Codere boosts total revenue

Mexico and Uruguay gaming operations have boosted Codere’s total revenue.

Codere has revealed their latest report regarding the third quarter of the year, noticing that operations in Uruguay and Mexico have surpassed the previous expectations. The Spanish gaming company has been reporting positive results for a year, showing great increases in all Latin American regiosn and Spanish sports betting sector.

According to the report, Codere’s revenue grew 2.8 percent to €401.1 million in the third quarter of the year. The operations were compared with the same quarter of last year. The gaming company explained the growth was developed by operations in Spain, Uruguay and Mexico, “although there was weak revenue growth in Argentina and Italy and revenue reductions in Panama and Colombia.”

Meanwhile, Codere’s EBITDA has been adjusted to €68.4 million, 1.2 per cent down on last year, representing better results than expected. “The company operates 55,599 slots, up 0.7 per cent on the same quarter of last year, mainly through upturns in numbers in Italy but offset by Mexico. There are 144 gaming halls in the group and 173 sports betting shops, up from 151 in the same quarter of last year,” adds the statement.

Codere’s growth in Mexico has also delivered in a deal with Evolution Gaming, which entered into the Mexican market, where Codere is already the largest operator of gaming halls. Since February 1, Codere – Real Madrid´s Official Sports Bookmaker – has enriched its gaming offer in Mexico with online gaming through the website codere.mx.