Brevity was the order of the day at Codere Online’s May 7 earnings call. First-quarter results were reviewed and disposed of in 31 minutes. “We are very pleased with how we started 2026,” reported Chief Executive Aviv Sher.
Codere Online reported 183,000 monthly active users, a 14% increase, However, average spend per customer was down 1% at €177 (US$208) apiece. “This is consistent with a more-diverse and broader customer base,” Sher said.
During the quarter, the company saw 244,000 new registrations, of whom 90,000 became first-time depositors. The average cost of acquiring a player was €212 (US$249), a slight increase. Sher said customer value was a higher priority than sheer number of players.
According to Chief Finance Officer Marcus Arildsson’s charts, monthly average users were on the rise and costs of acquisition were generally diminishing. The €212 (US$249) acquisition cost, he said, “reflects a more competitive start to the year.”
