Codere Online started Q1 2026 with stronger revenue and a return to profit – see more details:

• Codere Online reported net gaming revenue of EUR 64.4m in Q1 2026, compared to EUR 57.0m in Q1 2025. Total revenue reached EUR 60.3m during the period. Adjusted EBITDA also improved to EUR 6.0m from EUR 1.8m a year earlier.
• Spain posted net gaming revenue of EUR 25.5m in the quarter, up 16% year-on-year. Average monthly active players in the market increased to 59,000. The company said performance in Spain continued to build on trends seen in the second half of 2025.
• Mexico remained the group’s largest market by revenue. Net gaming revenue in the country rose 13% to EUR 34.6m, while active players increased 20% to 98,200. Total average monthly active players across the business reached 183,500 during Q1.
• Net income came to EUR 7.0m in the quarter, compared to a loss of EUR 0.7m in the same period last year. Codere Online ended March with EUR 56.2m in cash and no financial debt. Codere Online revenue growth also helped lift overall profitability during the quarter.
• CEO Aviv Sher said: “We delivered a very strong start to 2026, achieving record quarterly net gaming revenue of EUR 64.4 million, up 13% year-on-year.” The operator kept its full-year outlook unchanged, with expected net gaming revenue of EUR 235m to EUR 245m and adjusted EBITDA of EUR 15m to EUR 20m.

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