“The second quarter was a standout quarter,” Codere Online CEO Aviv Sher said, leading off the company’s second-quarter earnings call. Codere leadership raised their full-year earnings guidance and touted across-the-board increases.
Codere revenues rose 27% and monthly active users were up 12% during the second quarter, which encompassed the early weeks of the Word Cup soccer tournament. The company reported 282,000 new-player signups and 108,000 first-time depositors.
“Performance was outstanding and materially about the 2022 tournament,” Sher said of World Cup-related action. “Net gaming revenue more than doubled over the 2022 World Cup.”
Added Chief Financial Officer Marcus Arildsson, “both Spain and Mexico gave outstanding performances,” and were the company’s primary drivers of revenue.
