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Codere Online Reports Financial Results for the First Quarter 2024

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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.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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SPAYZ.io expands payment network across Asia, Africa, and the Middle East

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SPAYZ.io, a global payment service provider has expanded its payment network to four new countries across Asia, Africa and the Middle East, with new payment integrations in Turkey, Egypt, South Africa, and Tanzania.

Merchants in Turkey can access Havale bank for pay-in and payout transactions. In Egypt and Tanzania, SPAYZ.io has introduced Mobile Money solutions, supporting the growing demand for mobile-first financial services. Finally, in South Africa, the company has rolled out EFT bank transfer capabilities, providing a reliable and widely adopted payment method for local and international merchants.

Looking to Q4 2025, SPAYZ.io will be launching services in the United Arab Emirates and Singapore. In the UAE, merchants will soon be able to utilize bank transfer options for both pay-in and payout transactions, supporting the region’s dynamic and digitally driven economy. In Singapore, SPAYZ.io will offer PayNow for pay-ins and bank transfers for payouts, aligning with the country’s advanced financial infrastructure and consumer preferences for fast, secure digital payments.

SPAYZ.io will be exhibiting at SIGMA Rome to discuss its current and future payment solutions, including these new launches, as it plans for a host of new announcements in the coming months. Partners, merchants, and industry leaders can visit Booth 6007 at Fiera di Roma from 3rd to 6th November 2025, to find out more and discuss opportunities for collaboration.

Tatjana Meluskane, Chief Commercial Officer, commented: “We’re not just watching the rise of digital payments in Africa, we’re proudly  helping to shape it. These are still cash driven economies, where the potential of digitalisation and online payments has not been realised.

“At SPAYZ.io, our mission is to bridge that gap with infrastructure that’s not only fast and secure, but trusted. What we’re seeing now is a tipping point – mobile-first ecosystems, agent networks, and real-time bank rails are converging to redefine the payments sector. We look forward to discussing with our partners at SIGMA Rome.”

You can schedule meetings with SPAYZ.io at SIGMA Rome by emailing [email protected].

 

The post SPAYZ.io expands payment network across Asia, Africa, and the Middle East appeared first on European Gaming Industry News.

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Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major

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Sixteen Teams Locked In for the BLAST Rainbow Six Munich Major

8–16 November 2025 | BMW Park Arena, Munich

The countdown to the BLAST Rainbow Six Munich Major is officially on as the 16 qualifying teams from around the world have been confirmed and are set to battle it out from 8–16 November 2025.

The Major marks the final stop of the 2025 season before the Six Invitational in February next year and will see the world’s best Rainbow Six Siege teams compete for championship glory, crucial Global Standings points and a share of the $750,000 prize pool.

The action kicks off 8–13 November behind closed doors, before culminating in front of a live audience at BMW Park Arena from 14–16 November, as fans bring the noise for three days of top-tier Rainbow Six esports.

The 16 teams competing in Munich:

  • Team Secret
  • Team Falcons
  • Team BDS
  • G2 Esports
  • FaZe Clan
  • FURIA Esports
  • Ninjas in Pyjamas
  • w7m Esports
  • Spacestation Gaming
  • Shopify Rebellion
  • M80
  • Wildcard
  • Dplus
  • CAG Osaka
  • Weibo Gaming
  • Enterprise Esports

With high stakes, fierce rivalries and the final Major title of the year on the line, all eyes turn to Munich as the stage is set for an unforgettable week of competition.

Limited tickets are still available – eventim.de/en/event/blast-r6-major-munich-2025-bmw-park-20359451/?srsltid=AfmBOopQhyzSgQxb_US-Zn88vxsiuTymssx09erEQ1eVWWymEFEnisHf

Fans can grab tickets to experience the electric atmosphere live at BMW Park Arena, watch the world’s top teams battle it out for the final Major crown of 2025, and celebrate the very best of global Siege esports.

The post Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major appeared first on European Gaming Industry News.

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Cubeia expands Originals Studio with Turbo Crash launch

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Cubeia, a Sweden-based iGaming software solutions provider, has unveiled the latest addition to its Originals Studio, Turbo Crash – a fast-paced, adrenaline-fuelled game designed to test players’ instincts.

Turbo Crash challenges players to make the ultimate risk-versus-reward decisions in search of astronomical returns. Players place their bets and watch the multiplier soar higher and higher – but timing is everything. It’s possible to cash out at any moment with a single click and every round can be verified for total transparency and trust thanks to its Provably Fair design.

Turbo Crash continues Cubeia’s Originals Studio mission to create operator-first, fully brandable games inspired by its Operator-Up philosophy – built from the ground up around what operators and their players need.

Cubeia’s investment in gamification and community-driven features is reflected in its latest release with challenges, achievements, and duels all available to bring players closer together.

A very successful first year for Cubeia Originals has validated this approach, and with Turbo Crash, the company is setting the pace for what an Originals experience can become as it scales the portfolio further.

Cubeia’s Head of Sales, Caroline Björkman, said: “Launching Turbo Crash as we approach our first anniversary is the perfect way to celebrate how well Originals Studio has established itself in the market. In less than a year, we’ve launched ten distinctive titles – from Mines and Crash to Turbo Crash – and built a portfolio that operators can rely on and players genuinely enjoy.”

The post Cubeia expands Originals Studio with Turbo Crash launch appeared first on European Gaming Industry News.

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