Devaluation of the Mexican peso hurt Codere Online’s third-quarter results, reported 17 November. In constant currency, net gaming revenue was €51.6 million (US$59.8 million), up 3% from the prior year. After adjustment, however, it was flat.
Similarly, Mexico-only, net gaming revenue was up 5% in constant currency to €26.8 million (US$31.1 million), but flat when adjusted. The company narrowed its net loss for 2025 to €1.7 million (US$2.0 million), down from €3 million (US$3.5 million) in 2024’s first nine months.
In a statement, CEO Aviv Sher said, “our net gaming revenue reached €51.6 million (US$59.8 million) in the third quarter of 2025, in line with the prior year period.
In Mexico, our net gaming revenue was flat despite the 5% devaluation of the Mexican peso and the low sports betting margin on the back of customer-friendly results in September.”
