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Revenues drop for Codere during third quarter

George Miller
November 14, 2018
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Revenues drop for Codere during third quarterReading Time: 1 minute

 

Codere, the Spain based gambling company, has suffered a dip in revenue in its recently released financial results for the third quarter.

The companies’ income dipped by 8.2 per cent to touch €1.1bn. The reason for fall is the decreased revenues from Argentina because of the devaluation of the Argentine peso against the euro. Inflation in the South American country reached more than 100 per cent. The revenues from Spain and Italy, however, were improved.

Adjusted EBITDA for the nine months rose slightly to €203.6m.

The company said that its European activities had helped, contributing €404.4m to the turnover, mainly in sports betting online and retail in Spain. The net result in the third quarter showed a net loss of €55m.


Source: Latest News on European Gaming Media Network

George Miller

George Miller

George Miller began his career in content marketing before joining the HIPTHER team in 2016 as an Editor and Content Manager. His ability to distill complex regulatory data into newsworthy B2B content led to his appointment as Head of Content in 2017.…

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At the heart of the ever-evolving gaming and technology sectors lies EEGaming.org, a premier B2B platform and the definitive Intelligence Hub for industry leaders. As a flagship publication of HIPTHER, we bridge the gap between regional heritage and global innovation, redefining how the industry connects, informs, and inspires.

Expertise & Evolution – More Than Just News

Reaching a vast network of decision-makers, EEGaming.org goes beyond the headlines to deliver high-stakes intelligence and strategic foresight. From the intricacies of European regulations to the rapid evolution of global tech, we provide comprehensive coverage across the verticals that drive the industry:

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Our impact extends far beyond the digital page. EEGaming.org is a proud host of virtual meetups and industry-leading conferences that spark dialogue, foster collaboration, and drive innovation. Through detailed reports and live events, we create a space where operators, suppliers, regulators, and professional services come together to shape the future of gaming.

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