Codere Online Luxembourg Reports Record Q2 Earnings Amid Strong Growth
Codere Online Luxembourg reported record second-quarter net gaming revenue of €69.4 million, up 27% year over year in 2026, driven by strong performance in Spain and Mexico as well as increased activity during the World Cup. Adjusted EBITDA rose to €5.8 million from €2.3 million a year earlier, with an expanded margin of 8.4%. The company also noted improved customer metrics, including a 12% increase in monthly active customers and a significant rise in first-time depositors. The CEO attributed part of the success to strategic marketing around the World Cup without major investments in broadcasts. Codere Online raised its full-year revenue guidance to €255 million–€265 million, with adjusted EBITDA expected between €20 million and €25 million. The company ended Q2 with approximately €63 million in cash and no financial debt, while considering potential acquisitions or market expansions. Spain contributed the most significant revenue growth at nearly 25%, followed by Mexico’s 24%. Colombia also showed a rebound after earlier challenges.
Topics: customer_metrics ebitda online_gaming revenue_growth