{"id":10755,"date":"2026-05-11T22:25:26","date_gmt":"2026-05-11T22:25:26","guid":{"rendered":"https:\/\/casino-online-best.com\/index.php\/2026\/05\/11\/codere-online-q1-net-gaming-revenue-hits-e64-4-million\/"},"modified":"2026-05-11T22:25:26","modified_gmt":"2026-05-11T22:25:26","slug":"codere-online-q1-net-gaming-revenue-hits-e64-4-million","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2026\/05\/11\/codere-online-q1-net-gaming-revenue-hits-e64-4-million\/","title":{"rendered":"Codere Online Q1 Net Gaming Revenue Hits \u20ac64.4 Million"},"content":{"rendered":"<div>\n<p>Codere Online opened 2026 with record quarterly net gaming revenue and a return to profit, helped by stronger results in Spain and Mexico.<\/p>\n<hr>\n<p><em><strong>Good to Know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Net gaming revenue reached \u20ac64.4 million, up 13% year over year.<\/strong><\/em><\/li>\n<li><em><strong>Adjusted EBITDA rose to \u20ac6.0 million, up \u20ac4.2 million from Q1 2025.<\/strong><\/em><\/li>\n<li><em><strong>Net income reached \u20ac7.0 million after a \u20ac0.7 million loss one year earlier.<\/strong><\/em><\/li>\n<\/ul>\n<hr>\n<p>Codere Online kept its 2026 guidance unchanged after posting its strongest first quarter to date.<\/p>\n<p>For the three months ended March 31, 2026, total revenue reached \u20ac60.3 million, or $71.1 million. Net gaming revenue climbed to \u20ac64.4 million, or $75.9 million, a 13% increase from Q1 2025.<\/p>\n<h2>Spain And Mexico Lift Codere Online Earnings<\/h2>\n<p>Mexico remained the largest contributor. Revenue reached \u20ac30.4 million, or $35.8 million, while net gaming revenue increased 13% to \u20ac34.6 million, or $40.8 million. 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Revenue and net gaming revenue both reached \u20ac25.5 million, or $30.1 million, up 16% from a year earlier. Codere Online said the Spanish performance continued the stronger trend seen during the second half of 2025.<\/p>\n<p>CEO Aviv Sher said:<\/p>\n<p><em>\u201cWe delivered a very strong start to 2026, achieving record quarterly net gaming revenue of \u20ac64.4 million (US$75.9 million), up 13% year-on-year. In Spain, performance accelerated meaningfully, with net gaming revenue growing 16%, reflecting a clear continuation and acceleration of the positive trends we began to see in the second half of 2025, particularly in the fourth quarter. Mexico also continued to deliver double-digit growth on the back of a 20% increase in the number of active customers\u201d.<\/em><\/p>\n<p>Profit also improved. Adjusted EBITDA reached \u20ac6.0 million, or $7.1 million, up \u20ac4.2 million from the prior year. Net income came in at \u20ac7.0 million, or $8.2 million, compared with a \u20ac0.7 million loss in Q1 2025.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Chief Financial Officer Marcus Arildsson called the quarter <em>\u201ca clear step forward in profitability,\u201d<\/em> pointing to stronger earnings and a solid cash position.<\/p>\n<p>Codere Online still expects 2026 net gaming revenue of \u20ac235 million to \u20ac245 million, or $276.9 million to $288.8 million. Adjusted EBITDA guidance remains between \u20ac15 million and \u20ac20 million, or $17.7 million to $23.6 million.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/codere-online-q1-net-gaming-revenue-hits-e64-4-million\/\">Codere Online Q1 Net Gaming Revenue Hits \u20ac64.4 Million<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Codere Online opened 2026 with record quarterly net gaming revenue and a return to profit, helped by stronger results in Spain and Mexico. Good to Know Net gaming revenue reached \u20ac64.4 million, up 13% year over year. Adjusted EBITDA rose to \u20ac6.0 million, up \u20ac4.2 million from Q1 2025. Net income reached \u20ac7.0 million after [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-10755","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/10755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=10755"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/10755\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=10755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=10755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=10755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}