Codere, a gaming enterprise, experienced a remarkably robust third quarter in 2022. Their earnings from gaming surged by 54% in contrast to the corresponding period the previous year, attaining an impressive €30.6 million (equivalent to roughly $31 million). This notable expansion was primarily driven by their flourishing sports wagering activities, which significantly surpassed projections.
Mexico emerged as a standout performer, with gaming income there soaring by 82%. Notably, even in Spain, where certain marketing limitations are in effect, they still achieved a commendable 29% rise, surpassing their own anticipations.
Looking forward, Codere maintains a highly optimistic outlook for the remainder of the year, particularly with the FIFA World Cup on the horizon. They express confidence in reaching the upper range of their revenue objectives, targeting a figure between €115 and €120 million. Additionally, they are setting their ambitions on Argentina, where they are actively striving to establish a prominent presence in the market.
Codere continues its expansion into Argentina! They’ve received initial authorization to establish operations in the Córdoba region and are targeting a launch within 2023.
admin