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Codere Online Reports Financial Results for the Second Quarter 2023

Published

2 years ago

September 1, 2023

Wladimir P.

codere-online-reports-financial-results-for-the-second-quarter-2023

Reading Time: 3 minutes

Total revenue was €37.1 mm in Q2 2023, while net gaming revenue^[1] was €39.1 mm in the period, 35% and 34% above those from Q2 2022, respectively.
Mexico revenue was €16.2 mm in Q2 2023, while net gaming revenue was €18.0 mm in the period, 51% above of Q2 2022.
Spain revenue (and net gaming revenue) reached €17.5 mm in Q2 2023 (24% above Q2 2022).
Net loss was €1.7 mm in Q2 2023 versus a net loss of €6.7 mm in Q2 2022.
Total cash position of over €45 mm as of June 30, 2023.
Increasing full year 2023 net gaming revenue and Adjusted EBITDA outlook to €150-160 mm and negative €15-25 mm, respectively, and reiterating plan to be EBITDA and cash flow positive for the full year in 2024.

Madrid, Spain and Tel Aviv, Israel, August 31, 2023 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO

/ CDROW, “the Company”), a leading online gaming operator in Spain and Latin America, has released its financial results for the second quarter ended June 30, 2023.

Attached are the main financial and operating metrics of the period.

Aviv Sher, CEO of Codere Online, stated, “We’re glad to present a strong set of second quarter results and to continue building upon the momentum from the first quarter. Our net gaming revenue grew 34% to €39 million, in line with the level from the first quarter despite the seasonal decline in sporting events. Our casino product, which has been a strategic priority for some time, contributed 54% of our revenue in the period”.

Mr. Sher further added, “Mexico posted impressive top line growth of 51% in the second quarter, reaching €18.0 million and surpassing Spain for the first time since launching operations in the country. In Spain, net gaming revenue grew by an equally impressive 24% to €17.5 million.”

Oscar Iglesias, CFO of Codere Online, stated, “We continue delivering strong revenue growth, despite a lower level of marketing investment, on the back of strong brand recognition, higher quality customers and continued improvement in our product offering. This has allowed us to reduce our Adjusted EBITDA loss by more than half to negative €4.5 million in the second quarter.”

Mr. Iglesias further added, “We feel very encouraged by first half results, which continue to exceed our original expectations, and now expect to generate between €150-160 million of net gaming revenue in 2023, a 7% increase at the midpoint versus our prior outlook. In regards to Adjusted EBITDA, we expect to deliver negative €15-25 million, and believe we are well on track to deliver positive EBITDA and cash flow for the full year in 2024.”

Recent Events

Board Member Appointments:

In its meeting held on August 30, 2023, our Board of Directors appointed Gonzaga Higuero as a new member, replacing Daniel Valdez as one of five directors nominated by Codere Newco S.A.; o Mr. Higuero was recently appointed CEO of Codere Group and brings an extensive experience in top management positions, leading refinancing processes, turnarounds and acquisitions, both in Europe and Latam;

o The Company thanks Mr. Valdez for his valuable contribution to the Board over his nearly two years of service and for his unwavering support of the Company and its management team;

In our Annual General Meeting held on June 22, 2023, Michal Elimelech was appointed as a new member of our Board of Directors, replacing Oscar Iglesias as one of five directors nominated by Codere Newco S.A. Mr. Iglesias will continue working in his current executive role as CFO of Codere Online.

SBC Awards:

We have been invited to participate in the SBC Awards that will take place on September 21, 2023, in Barcelona, and have been nominated in the following categories:o Best affiliate program; o Southern European operator of the year; o Sportsbook operator of the year.

Spanish Retail Withdrawal Fraud:

We recently became aware of a successful fraud committed against the Company in Spain, related to a series of withdrawals totaling €0.5 million made by a customer from his online account in a third-party retail gaming hall (i.e. affiliate). An investigation is underway and the Company will be pursuing a recovery of the misappropriated funds.

Conference Call Information

Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, August 31, 2023. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com . A recording of the webcast will also be available following the conference call.

Arizona

Arizona Department of Gaming Reports $44.9 Million in Tribal Gaming Contributions for the Second Quarter of Fiscal Year 2026

Published

2 hours ago

January 8, 2026

GamingAmericas.com

arizona-department-of-gaming-reports-$44.9-million-in-tribal-gaming-contributions-for-the-second-quarter-of-fiscal-year-2026

The Arizona Department of Gaming (ADG) announced today $44,891,270 in tribal gaming contributions to the Arizona Benefits Fund for the second quarter of Fiscal Year (FY) 2026. This represents an approximate 5.6 percent increase when compared to the same quarter of FY 2025.

“The financial support that tribal gaming provides the state of Arizona continues to power local and statewide needs that are vital to healthy and safe communities,” said Jackie Johnson, Director of the ADG. “With nearly $45 million in tribal gaming contributions in the most recent period, the Department is proud to ensure the continuation of important revenue streams that positively impact Arizonans.”

The Arizona Benefits Fund receives 88 percent of tribal gaming contributions, providing significant dollars to support instructional improvement for schools, trauma and emergency care, tourism, and wildlife conservation throughout the state. If interested in viewing the cumulative tribal gaming contributions by year, please visit our reports webpage: gaming.az.gov/resources/reports.

Tribal gaming contributions to the Arizona Benefits Fund for the second quarter of the State’s FY 2026 are as follows:

Instructional Improvement Fund/Education………………………………………………..$22,373,810

Trauma and Emergency Services Fund………………………………………………………..$11,186,905

Arizona Department of Gaming Operating Costs………………………………………….$4,040,214

Arizona Wildlife Conservation Fund……………………………………………………………$3,196,258

Tourism Fund…………………………………………………………………………………………..$3,196,258

Problem Gambling Education, Treatment and Prevention……………………………..$897,825

Total: Tribal Gaming Contributions to the Arizona Benefits Fund……………………..$44,891,270

Per the Arizona Tribal-State Gaming Compact, the remaining 12 percent is distributed by the tribes to the cities, towns, and counties of their choosing for community services and public safety programs for local governments. Since FY 2004, cumulative contributions have totaled approximately $2.5 billion, benefitting both the state and its cities, towns, and counties.

Currently, there are 26 Class III casinos in Arizona, which ADG regulates in partnership with Arizona tribes. For more information, view our tribal gaming webpage: gaming.az.gov/tribal-gaming-page.

The post Arizona Department of Gaming Reports $44.9 Million in Tribal Gaming Contributions for the Second Quarter of Fiscal Year 2026 appeared first on Americas iGaming & Sports Betting News.

888.it

R. Franco Digital Shortlisted for Casino Platform Excellence at EGR Europe Awards 2026

Published

12 hours ago

January 8, 2026

Wladimir P.

r.-franco-digital-shortlisted-for-casino-platform-excellence-at-egr-europe-awards-2026

R. Franco Digital, the leading Spanish iGaming provider, has been officially shortlisted for Casino Platform Supplier of the Year at the prestigious EGR Europe Awards 2026. The nomination recognizes a landmark year for the company, characterized by the explosive growth of its IRIS Open Omnichannel Platform and a major commercial breakthrough into the Italian market.

The winners will be announced during a gala ceremony on February 18, 2026, at the Hilton Malta, where the industry’s top-tier operators and suppliers gather to celebrate European gaming excellence.

IRIS: The Engine of Omnichannel Growth

The core of R. Franco Digital’s success lies in its IRIS platform, a highly scalable, multi-jurisdictional solution that unifies casino, sports betting, and retail management.

IRIS Platform Milestones (2025-2026):

Jurisdictional Reach: Certified in 6 jurisdictions and operational in over 10 regulated markets.
Content Depth: Seamlessly integrated with over 1,600 games from global third-party providers.
Operational Stability: Provides 24/7 multilingual support and advanced real-time analytics for operators.
Commercial Momentum: Secured 50+ new operator partnerships and entered three new markets within the last 12 months.

Performance Highlights: 4 Billion Game Rounds

R. Franco Digital’s games portfolio has seen a massive surge in engagement, bolstered by 20 new high-performance slot releases in 2025. Standout titles such as Strange Spins, Aphrodite, Zorro: Final Duel, Ovomon, and The Phantom contributed to a record-breaking year.

Metric	2025–2026 Achievement
Total Game Rounds	4 Billion+ across regulated markets
Revenue Growth	30% Increase during the judging period
New Content	20 New slot titles launched
Expansion	Debut in the Italian regulated market

Strategic Italian Market Entry

A major factor in the EGR shortlisting was R. Franco Digital’s successful entry into Italy. The provider rapidly localized its content to meet the specific demands of Italian players through tier-one partnerships:

Stanleybet.it: Launched 19 games, including the Italian-exclusive debut of Strange Spins.
888.it: Successfully rolled out the popular Super 7 3×3 title.

“We’re proud to be shortlisted for this award, which reflects the strength of our IRIS platform and the quality of the content we’ve delivered over the past year,” said Javier Sacristán Franco, International Business Director at R. Franco Digital. “Our team has worked hard to support operators with reliable, innovative solutions… we are delighted to see that effort recognised.”

The post R. Franco Digital Shortlisted for Casino Platform Excellence at EGR Europe Awards 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Big Hot Flaming Pots

Big Hot Flaming Pots: Tasty Treasures – Lightning Box Brings Land-Based Hit Online

Published

13 hours ago

January 8, 2026

Wladimir P.

big-hot-flaming-pots:-tasty-treasures-–-lightning-box-brings-land-based-hit-online

Light & Wonder has officially launched Big Hot Flaming Pots: Tasty Treasures, the digital debut of its highly successful land-based franchise. Developed by in-house specialist studio Lightning Box, this 3×5 slot offers 243 ways to win and a high-energy “three-pot” mechanic that has already become a staple on casino floors worldwide.

The game transitions the whimsical “dumpling-tossing” theme to online audiences, combining vibrant Asian-inspired aesthetics with a deep mathematical model designed for high-engagement sessions.

The Three-Pot Mechanic & Seven Feature Combinations

At the core of the gameplay is the persistent pot system. Landing specific colored coins fuels three separate pots—Yummy, Spicy, and Upsized. These pots can trigger individually or in any combination, leading to seven distinct bonus paths.

Feature Mode	Gameplay Enhancement
Yummy Mode	Increases the Hold & Spin respin counter from 3 to 4, significantly extending bonus life.
Spicy Mode	Introduces Chilli multipliers; landing a pepper adds its cash value to every symbol currently held on the board.
Upsized Mode	Unlocks a Dual Grid (two reel sets) for the Hold & Spin round, doubling the win potential.
Combined Modes	Triggering all three at once creates the “Mega Bonus,” featuring dual grids, 4 respins, and value-boosting peppers.

Innovation: The Stack N’ Hit Feature

Unlike traditional Hold & Spin mechanics where symbols simply lock until the round ends, Tasty Treasures introduces the Stack N’ Hit evolution.

Reel Clearing: When a vertical reel is filled with Bun symbols, the prizes are instantly collected, and the reel is cleared.
Persistent Respins: Clearing a reel creates open spaces for new prizes to land, allowing the bonus round to continue far longer than standard industry alternatives.
The Path to Grand: Each cleared reel activates a “Pepper Tracker” above it. Lighting up all five trackers awards the Grand Progressive Jackpot.

Jackpot Tiers & Base Game Depth

Operators benefit from a versatile math model that supports both consistent base-game performance and high-volatility jackpot chases.

Progressive Jackpots: Grand and Major tiers for life-changing win potential.
Fixed Jackpots: Minor and Mini tiers awarded through symbols landing during features.
Nudge Wilds: In the base game, Wild symbols can nudge to cover entire reels, assisting in achieving the 243-way payouts.

“Big Hot Flaming Pots: Tasty Treasures carries forward a brand that has already made its mark in land-based venues,” says Michael Maokhamphiou, Studio Director at Lightning Box. “This release offers operators a flexible, high-performing title that combines familiarity with fresh layers of engagement.”

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