Codere Online lifts gaming win 30% on Mexico but flags single-digit Q4 growth

Codere Online kept its 2026 guidance after a strong third quarter driven by Mexico, despite sharply higher gaming taxes. Management expects growth to slow to single digits in the fourth quarter, while its parent weighs selling the online unit on its own. Codere Online’s third-quarter growth came largely from Mexico. A 2026 fiscal package passed by Mexico’s Senate lifts the online gambling tax there to 50%, up from 30%. Total revenue reached €62.6m, up 31%. Spain contributed revenue of €24.8m, up 13%. Mexico contributed €32.9m, up 37%. Casino made up 67% of gaming win and sports betting 33%.