Latest News
Codere Online Reports Financial Results for the First Quarter 2024
Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited[2] financial results for the quarter ended March 31, 2024.
Aviv Sher, CEO of Codere Online, commented on the results, “We are off to a strong start in 2024, with net gaming revenue of €53 million in the first quarter, 34% above that of last year and once again our highest ever quarterly figure. Our focus on Mexico and Spain continues to yield impressive results, with net gaming revenue in Mexico growing by 51% in the first quarter to nearly €27 million. In Spain, meanwhile, net gaming revenue grew by 21% to over €22 million. In both markets, our targeted marketing efforts allowed us to grow our active customer base by c. 25% as a result of the acquisition of higher quality customers (i.e. lower churn) but also with an increased spend per active.”
Oscar Iglesias, CFO of Codere Online, stated, “Once again, top line growth exceeded our expectations in the first quarter, with Mexico continuing to put distance on Spain as our largest market by revenue. We are particularly excited, however, to see Mexico now also contributing positive Adjusted EBITDA for the first time. This, together with a strong performance by Spain, allowed us to generate €1.7 million in total Adjusted EBITDA in the first quarter, which represents a significant step towards achieving our full year profitability targets.”
Mr. Iglesias further added, “On the back of this strong performance in the first quarter and based on recent trading activity, we now expect to generate between €195-210 million of net gaming revenue in 2024, and reaffirm that we expect to generate positive Adjusted EBITDA and cash flow for the full year in 2024.”
Recent Events
Launch in Mendoza
· Subject to obtaining final regulatory authorization, we expect to launch operations in the Province of Mendoza over the coming weeks.
· Mendoza is the 5th most populated province in Argentina with over 2 million people.
· This launch will further increase our presence in the country, where we started operations in the City of Buenos Aires in December 2021, and continue pursuing a license in the Province of Buenos Aires.
Rayados Renewal
· On March 15, 2024, Codere Online agreed to extend its relationship with the Monterrey Rayados Football Club as its Official Betting Partner for the next four seasons.
· With this renewal, Codere Online also became the Main Sponsor of the women’s team, Rayadas.
· Codere Online expects to continue to deliver on its growth plan in Latin America, relying on this and other sponsorships and local activations.
Board Appointment
· On April 9, 2024, the Board of Directors of Codere Online appointed Daniel Valdez as a member of the Board and the Audit Committee.
· Mr. Valdez previously served as a member of the Board between the consummation of the business combination in November 2021 and August 2023.
The post Codere Online Reports Financial Results for the First Quarter 2024 appeared first on European Gaming Industry News.
![](https://eegaming.org/wp-content/uploads/2022/01/EEGaming-Logo-1.png)
Latest News
Soft2Bet Invest Wins the “Outstanding Contribution to Gaming 2024” Award at SiGMA East Europe
Soft2Bet is delighted to announce that its Soft2Bet Invest venture has won the Outstanding Contribution to Gaming 2024 award at this year’s SiGMA East Europe taking place this week in Budapest, Hungary.
The award celebrates executives and organisations that make significant impacts on the industry through technical innovation, advocacy or mentoring and investments. Winning the “Outstanding Contribution to Gaming 2024” award for this category is therefore fantastic recognition of Sof2Bet’s work and efforts in the field.
Soft2Bet Invest launched a €50m iGaming Innovation Fund to support innovative iGaming and casual gaming companies and provide financial and business support to entrepreneurs. It reaches across the corporate spectrum and is open to growth-stage and/or mature companies that are harnessing pioneering technologies in casual gaming, AI, traffic differentiators or behavioural-UX analytics.
Launched in 2024, Soft2Bet Invest has already attracted major interest from iGaming startups and visionaries wanting to innovate and revolutionise the sector. Its investment bracket ranges from €500K to €1m per individual project, with the investment strategy to be discussed on a case-by-case basis.
Martin Collins, Chief Business Development Officer at Soft2Bet, commented: “Winning this award is highly rewarding since we launched Soft2Bet Invest just this year. It shows the hunger there is among our industry peers for a specialist investment fund that can harness the energy within iGaming and turn entrepreneurial dreams into realities. Soft2Bet’s focus has always been innovation, of spirit, business and technology, and this award recognises those qualities. We’re truly delighted to have won it!”
The post Soft2Bet Invest Wins the “Outstanding Contribution to Gaming 2024” Award at SiGMA East Europe appeared first on European Gaming Industry News.
Latest News
Tusk Casino Celebrates Trace’s R2.3 Million Jackpot Victory
Tusk Casino proudly announces another thrilling win for one of its players, Trace, who secured an impressive R2.3 Million on the Secrets of Cleopatra slot, crafted by PG Soft. This notable win is proof of the exciting potential of Tusk Casino, supported by www.SouthAfricanCasinos.co.za, the leading online gambling guide for South African players.
Trace’s Winning Moment at Tusk Casino
Trace’s victory highlights the engaging and lucrative nature of Tusk Casino’s extensive game selection. Secrets of Cleopatra, renowned for its captivating gameplay, proved to be a game-changer for Trace. His winning journey began with SouthAfricanCasinos.co.za, South Africa’s top portal for mobile casinos and gambling insights, which has consistently guided players to secure and enjoyable online gambling experiences since 2003.
SouthAfricanCasinos.co.za: Gateway to Winning Opportunities
As a premier guide for mobile casinos enthusiasts, SouthAfricanCasinos.co.za has earned the trust of countless players. Trace, after his significant win, commented, “Coming across Tusk Casino thanks to SouthAfricanCasinos.co.za was a turning point.” His experience mirrors that of many others who have benefited from the platform’s professional advice and well-researched recommendations.
About Tusk Casino
With its sophisticated design and user-friendly interface, Tusk Casino features an extraordinary collection of over 3000 online slot games from renowned developers worldwide. This online casino is dedicated to offering an outstanding gaming experience, highlighted by its impressive free no deposit casino bonus offerings and extensive game variety. Licensed by the Government of Curacao, Tusk Casino promises a safe, engaging, and highly rewarding online gaming environment for all South African players.
A Bright Future for Online Gambling in South Africa
Thanks to the support from SouthAfricanCasinos.co.za, Tusk Casino reaffirms its position as a leading venue for safe and exciting online gaming. This partnership provides players with the most up-to-date information and prime gambling opportunities, ensuring a secure and enjoyable experience for all participants.
About SouthAfricanCasinos.co.za
SouthAfricanCasinos.co.za, South Africa’s largest and most reputable online casinos south africa and gambling guide has been offering top-notch casino recommendations and detailed gambling insights for ZAR casino players since 2003. It remains a vital resource for players looking for secure, high-quality, and rewarding online gambling experiences.
Trace’s impressive win at Tusk Casino not only transforms his life but also underscores the exciting possibilities available through SouthAfricanCasinos.co.za and Tusk Casino, marking a significant moment in the South African online gambling landscape.
The post Tusk Casino Celebrates Trace’s R2.3 Million Jackpot Victory appeared first on European Gaming Industry News.
Latest News
Atlaslive Celebrates Multiple Nominations for EIGE 2024, Including Best Marketing Campaign
Atlaslive, a B2B software provider delivering high-quality solutions for the iGaming industry, has been shortlisted in all four of its nominated categories for the upcoming European iGaming Excellence (EIGE) Awards 2024. This recognition underscores Atlaslive’s commitment to innovation, excellence, and leadership in the iGaming industry.
The nominations include:
- Best Marketing Campaign: Our rebranding campaign has been recognized for its strategic approach and impact, reflecting Atlaslive’s dynamic evolution and our continuous efforts to connect more deeply with our partners.
- Best eSports Betting Provider: This nomination highlights our cutting-edge eSports offerings, which are designed to meet the growing demand for immersive and reliable eSports betting experiences.
- Innovation in iGaming Technology: At Atlaslive, we thrive on challenges and excel in high-pressure, high-traffic moments. Our peak performance technology, which ensures seamless operations even during the most demanding periods, has earned us a spot in this category.
- Best iGaming Supplier: Being recognized as one of the leading suppliers in the iGaming industry is a testament to our comprehensive and scalable solutions, which continue to set new standards for reliability and excellence.
The final vote for the EIGE 2024 Awards will take place during the European Gaming Congress, held on October 15-16, 2024, in Warsaw. Atlaslive is proud to attend as an industry leader, contributing its expertise in two key panel discussions:
- The Future of Esports: Opportunities and Challenges – October 15
- Optimizing Sportsbook Operations for Enhanced Performance – October 16
Atlaslive’s CEO, Maxim Slobodyanyuk, commented, “Our success is built on a foundation of relentless innovation and a deep understanding of the iGaming landscape. Every solution we develop is designed with our partners’ growth and success in mind, ensuring they have the tools they need to thrive in a competitive market. These nominations validate our strategic direction and the trust our partners place in us. We’re not just reacting to industry trends; we’re actively shaping the future of iGaming. By staying ahead of technological advancements and continuously refining our offerings, we aim to lead the industry in delivering exceptional value. Our vision is clear: to be the go-to partner for businesses seeking not only cutting-edge technology but also a collaborative and forward-thinking approach to long-term success.”
Join Atlaslive as the company shares insights and shapes the future of iGaming.
The post Atlaslive Celebrates Multiple Nominations for EIGE 2024, Including Best Marketing Campaign appeared first on European Gaming Industry News.
-
Latest News2 months ago
NAVI, FaZe Clan and Team Vitality players star in a new BLAST Premier video series in collaboration with GG.BET
-
Latest News2 months ago
-
Latest News2 months ago
Revenant Esports crowned champions of OMEN VALORANT Challengers South Asia Split 2; to represent South Asia at VCT Ascension: Pacific
-
Latest News3 months ago
PG Soft launches infectious Zombie Outbreak title
-
Latest News3 months ago
Axel Hefer new CEO of Tipico
-
Latest News2 months ago
Week 27/2024 slot games releases
-
Latest News3 months ago
Ronaldinho Spins Live on Betano
-
Latest News2 months ago
BetConstruct and Evolution Unveil New Dedicated Game Show – FTN Crazy Time
You must be logged in to post a comment Login