Industry News
Revenues drop for Codere during third quarter

Codere, the Spain based gambling company, has suffered a dip in revenue in its recently released financial results for the third quarter.
The companies’ income dipped by 8.2 per cent to touch €1.1bn. The reason for fall is the decreased revenues from Argentina because of the devaluation of the Argentine peso against the euro. Inflation in the South American country reached more than 100 per cent. The revenues from Spain and Italy, however, were improved.
Adjusted EBITDA for the nine months rose slightly to €203.6m.
The company said that its European activities had helped, contributing €404.4m to the turnover, mainly in sports betting online and retail in Spain. The net result in the third quarter showed a net loss of €55m.
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