Codere Online sees 2023 net gaming revenue EUR 155M – EUR 165M

Oscar Iglesias, CFO of Codere Online, stated, “Our third quarter results have shown that the combination of a strong brand, high-quality customer acquisitions and an attractive product offering has allowed us to deliver not only strong top line growth but also a significant improvement in profitability, with our first quarter of breakeven Adjusted EBITDA less than two years following our U.S. listing. Based on these strong results and recent trading activity, we now expect to generate between EUR 155-165 million of net gaming revenue and negative EUR 10-18 million in Adjusted EBITDA in 2023, and reaffirm that we expect to generate positive Adjusted EBITDA and cash flow for the full year in 2024.”