Industry News
Codere Online Reports Financial Results for the Third Quarter 2023

Codere Online (Nasdaq: CDRO / CDROW, “the Company”), a leading online gaming operator in Spain and Latin America, has released its financial results for the third quarter and nine month period ended September 30, 2023.
Below are the main financial and operating metrics of the period.
Quarter ended September 30 | Nine Months ended September 30 | ||||||
2022 | 2023 | Chg. % | 2022 | 2023 | Chg. % | ||
Net Gaming Revenue (EUR mm) 1 | |||||||
Spain | 14.9 | 18.9 | 27% | 42.2 | 54.9 | 30% | |
Mexico | 12.9 | 21.0 | 63% | 34.8 | 56.6 | 63% | |
Colombia | 1.9 | 1.8 | (5%) | 5.6 | 6.2 | 11% | |
Other | 0.9 | 1.5 | 67% | 2.7 | 4.1 | 52% | |
Total | 30.6 | 43.2 | 41% | 85.2 | 121.8 | 43% | |
Avg. Monthly Active Players (000s) 2 | |||||||
Spain | 35.2 | 41.0 | 16% | 37.1 | 40.6 | 10% | |
Mexico | 37.4 | 51.8 | 39% | 34.3 | 50.3 | 46% | |
Colombia | 24.2 | 22.7 | (6%) | 25.4 | 24.7 | (3%) | |
Other | 7.5 | 9.0 | 20% | 6.8 | 9.1 | 34% | |
Total | 104.3 | 124.5 | 19% | 103.6 | 124.7 | 20% |
Aviv Sher, CEO of Codere Online, stated, “We’re very pleased with our performance in the third quarter and to be presenting another set of impressive results. This quarter we not only posted significant net gaming revenue growth of 41% to €43 million, but also took a significant step in our path to profitability with break even Adjusted EBITDA in the period. It was a solid quarter for sports betting, with the return of the major sporting events, but also for our casino product, which contributed 58% of our revenue in the period.”
Mr. Sher further added, “Mexico continued to exceed our expectations with revenue growth of 63% in the third quarter, reaching €21.0 million and consolidating its position as our largest market (by revenue) ahead of Spain, where net gaming revenue also grew by an impressive 27%, to €18.9 million.”
Oscar Iglesias, CFO of Codere Online, stated, “Our third quarter results have shown that the combination of a strong brand, high-quality customer acquisitions and an attractive product offering has allowed us to deliver not only strong top line growth but also a significant improvement in profitability, with our first quarter of breakeven Adjusted EBITDA less than two years following our U.S. listing.”
Mr. Iglesias further added, “Based on these strong results and recent trading activity, we now expect to generate between €155-165 million of net gaming revenue and negative €10-18 million in Adjusted EBITDA in 2023, and reaffirm that we expect to generate positive Adjusted EBITDA and cash flow for the full year in 2024.”
Reconciliation of Revenue (IFRS) to Net Gaming Revenue (non-IFRS)
Quarter ended September 30 | Nine Months ended September 30 | ||||||
Figures in EUR mm | 2022 | 2023 | Chg. % | 2022 | 2023 | Chg. % | |
Total | |||||||
Revenue | 28.9 | 41.1 | 42% | 80.1 | 115.7 | 44% | |
(+) Accounting Adjustments3 | 1.7 | 2.2 | 29% | 5.1 | 6.1 | 20% | |
Net Gaming Revenue | 30.6 | 43.2 | 41% | 85.2 | 121.8 | 43% | |
Spain | |||||||
Revenue | 14.9 | 18.9 | 27% | 42.2 | 54.9 | 30% | |
(+) Accounting Adjustments3 | – | – | n.m. | – | – | n.m. | |
Net Gaming Revenue | 14.9 | 18.9 | 27% | 42.2 | 54.9 | 30% | |
Mexico | |||||||
Revenue | 11.4 | 18.8 | 65% | 31.0 | 50.7 | 64% | |
(+) Accounting Adjustments3 | 1.4 | 2.3 | 64% | 3.8 | 5.9 | 55% | |
Net Gaming Revenue | 12.9 | 21.0 | 63% | 34.8 | 56.6 | 63% | |
Colombia | |||||||
Revenue | 1.8 | 1.8 | – | 4.6 | 6.5 | 41% | |
(+) Accounting Adjustments3 | 0.1 | (0.1) | n.m. | 1.0 | (0.3) | (130%) | |
Net Gaming Revenue | 1.9 | 1.8 | (5%) | 5.6 | 6.2 | 11% | |
Other | |||||||
Revenue | 0.7 | 1.5 | 114% | 2.3 | 3.6 | 57% | |
(+) Accounting Adjustments3 | 0.2 | (0.0) | (100%) | 0.4 | 0.5 | 25% | |
Net Gaming Revenue | 0.9 | 1.5 | 67% | 2.7 | 4.1 | 52% |
Industry News
Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024

The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.
In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.
Dijana Radunović, General Manager at AskGamblers, said: “It’s amazing to see the trust players put in us year after year, and we’re able to repay them by helping them recover their funds from operators or solve other related issues. We’ve had another successful year, with a few records broken and amazing milestones achieved and we can’t wait to see what lies in store in the years ahead.”
The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.
Asia
DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards

DigiPlus Interactive Corp. (DigiPlus) has won seven honours – including five coveted gold awards – at the 2025 Asia-Pacific Stevie Awards. This milestone places DigiPlus among the most awarded companies in the region this year, spotlighting its strategic growth and transformative impact across digital entertainment, social development and investor relations.
The Asia-Pacific Stevie Awards are the only business awards Programme that recognises innovation across all 29 markets in the region. Widely regarded as the world’s premier business awards, the Stevie Awards represent a prestigious recognition of business excellence.
DigiPlus bagged five Gold Stevies for ‘Innovative Achievement in Growth’, ‘Innovation in Investor Relations’, ‘Excellence in Social Impact Companies’, ‘Innovation in Annual Reports’ and ‘Innovation in Corporate Websites’. The company also clinched Silver and Bronze Stevies for ‘Achievement in Product Innovation’ and ‘Innovation in Brand Renovation’ respectively.
At the core of these wins is DigiPlus’ commitment to innovation and digital transformation. From redefining the player experience through localised and immersive content, to launching a refreshed brand identity that resonates with a more connected and tech-savvy user base, DigiPlus has embraced a future-forward mindset. The company’s calculated investments in big data, cutting-edge technologies and stakeholder engagement have not only fueled business growth, but also opened inclusive pathways to digital participation through its social development arm, BingoPlus Foundation.
“This momentous victory at the Asia-Pacific Stevie Awards affirms DigiPlus’ emergence as a true powerhouse of innovation and progress, reshaping industry boundaries and redefining digital consumer engagement on a global scale. Through consistent growth and business performance, DigiPlus reaffirms its unwavering commitment to creating long-term value,” said DigiPlus Chairman Eusebio Tanco.
Winning entries in the Asia-Pacific Stevie Awards undergo a rigorous, multi-layered evaluation by an esteemed panel of judges composed of business and industry leaders across the region.
“The 12th Asia-Pacific Stevie Awards received an impressive array of outstanding entries. This year’s winners have clearly shown their dedication to innovation, and we commend their resilience and imaginative efforts,” said Maggie Miller, President of the Stevie Awards.
The post DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards appeared first on European Gaming Industry News.
Industry News
Amusnet Introduces “Tournaments” to Elevate Online Gaming Engagement

Amusnet has introduced its latest promotional tool designed to enhance player engagement and boost operators’ performance. Tournaments reinforces Amusnet’s commitment to excellence, ensuring that its global network of partners can thrive in a competitive landscape and enjoy sustained success in the ever-evolving online gaming industry. With an intuitive interface, customisable tournament formats and seamless integration, this powerful tool is set to upgrade the online gaming experience and increase retention.
This versatile promotional tool enables operators to create highly engaging, dynamic tournaments that captivate players and encourage continuous participation. Whether it’s a time-limited challenge, a leaderboard-driven contest or an exclusive high-stakes competition, the tool offers complete flexibility to tailor rules, prizes and winning criteria to any gaming audience.
By implementing Tournaments, operators can enhance retention, increase activity and upscale revenue with its key features:
• Quick & Easy Setup – Create tournaments seamlessly with intuitive tools.
• Customisable Rewards – Offer cash, free spins or exclusive prizes.
• Diverse Win Criteria – Set different conditions for varied gameplay styles.
• Seamless Integration – Effortless integration into the Amusnet system for a smooth experience.
• Increased Retention & Revenue – Drive higher engagement and bets with Recurring tournaments.
Designed to boost engagement, the tool empowers operators of any scale to run dynamic, competitive events, providing endless possibilities for exciting gameplay experiences. Tournaments can be easily accessed through the newly upgraded Client Portal, where operators can request activation via the dedicated Request Form. With a seamless and efficient interface, the portal ensures partners have everything they need to optimise their gaming offerings and drive long-term success.
The post Amusnet Introduces “Tournaments” to Elevate Online Gaming Engagement appeared first on European Gaming Industry News.
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