Codere Online lauds Mexico performance ahead of Argentine debut

Codere Online lauds Mexico performance ahead of Argentine debut

Article brief provided by SBC News
  • Ted Menmuir, SBC News
September 1, 2022 9:10 PM
  • Ted Menmuir, SBC News
  • Argentina
  • Mexico
  • Igaming
  • Sports Betting

Codere Online has cited progress on its LatAm market initiatives, led by the acceleration of its Mexican market presence. Completing its second quarter on the US Nasdaq, Codere Online has registered Q2 net gaming revenues (NGR) of €29m [$29m], up 41% on comparative 2021 results of €21m.

Headline growth was attributed to its Mexican unit recording a period NGR of €12m, corresponding to an 86% increase on 2021 results of €6.5m.

Mexican growth was supported by the group maintaining its positive Spanish home-market momentum, which registered a 12% NGR increase to €14m (Q2 2021: €12m).

Further LatAm positives saw Codere Online’s Colombian unit register a 56% NGR increase to €2.2m (Q2 2021: €1.4m).