Codere Online Q3 revenue surges 31% as Sher maintains conservative outlook

Codere Online CEO Aviv Sher said the company would maintain a conservative outlook despite growth in Mexico leading to a Q3 revenue surge of 31%. Codere Online announced its Q3 earnings on Thursday, displaying revenue growth of almost a third year-on-year to €62.6 million ($69.2 million). This was largely driven by the company’s performance in Mexico, its biggest market, with revenue there rocketing 37% year-on-year. Codere Online’s adjusted EBITDA of €4.2 million in Q3 was a 45% increase over the same period last year, while gaming win surged to €67.1 million, a 30% rise.