Codere Online ( (CDRO) ) has released its Q4 earnings. Here is a breakdown of the information Codere Online presented to its investors.
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Codere Online is a prominent online gaming operator based in Spain and Latin America, offering sports betting and online casino services as part of the larger Codere Group’s gaming operations.
In its latest earnings report for the fourth quarter and full year of 2024, Codere Online announced a 5% year-over-year increase in net gaming revenue for the fourth quarter, reaching €52.6 million. For the full year, net gaming revenue rose by 23% to €211.6 million, driven largely by strong performances in Spain and Mexico.
The company’s financial performance highlights include a turnaround from a net loss of €4.0 million in 2023 to a net income of €6.8 million in 2024, excluding non-cash variations in public warrants. Codere Online also reported a total cash position of €40.5 million as of December 31, 2024. The company has outlined a net gaming revenue outlook for 2025 of €220-230 million and an Adjusted EBITDA outlook of €10-15 million.
Further strategic moves include the authorization of a share buyback plan of up to $5.0 million, pending shareholder approval, reflecting management’s confidence in the company’s future performance.
Looking ahead, Codere Online is focused on continuing its growth trajectory and addressing challenges such as the newly introduced tax in Colombia, while maintaining its robust performance across key markets.
