{"id":99,"date":"2024-06-14T06:07:37","date_gmt":"2024-06-14T03:07:37","guid":{"rendered":"https:\/\/dreamscasinonodepositbonuscodes.icu\/2024\/06\/14\/codere-online-reports-strong-q1-2023-results-and-positive-outlook\/"},"modified":"2024-06-17T13:10:30","modified_gmt":"2024-06-17T10:10:30","slug":"codere-online-reports-strong-q1-2023-results-and-positive-outlook","status":"publish","type":"post","link":"https:\/\/dreamscasinonodepositbonuscodes.icu\/2024\/06\/14\/codere-online-reports-strong-q1-2023-results-and-positive-outlook\/","title":{"rendered":"Codere Online Reports Strong Q1 2023 Results and Positive Outlook"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/JGrEiH0RI4Y\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Codere Online&#8217;s recently published financial report for the first quarter of 2023 reveals substantial expansion and a promising forecast for the remainder of the year. The firm experienced a 57% surge in overall earnings, attaining \u20ac37.6 million, contrasted with the corresponding timeframe in the previous year. This remarkable accomplishment was propelled by an exceptional 55% increase in net gaming revenue, reaching \u20ac39.5 million.<\/p>\n<p>Mexico stood out as a top achiever, exhibiting a 75% leap in net gaming revenue, hitting \u20ac17.6 million. This triumph can be partially credited to Codere Online&#8217;s calculated expenditures related to the World Cup, which considerably broadened their clientele. The organization also emphasized the effectiveness of its cross-promotion strategies between sports wagering and casino offerings, with the latter representing 53% of the total net gaming revenue.<\/p>\n<p>Despite a net deficit of \u20ac1.3 million for Q1 2023, this signifies a considerable enhancement compared to the \u20ac10.1 million loss documented in the parallel period last year. Moreover, Codere Online projects attaining positive EBITDA by the conclusion of the fiscal year.<\/p>\n<p>Beyond the robust financial performance, Codere Online has undergone managerial adjustments. Aviv Sher has assumed the role of CEO and has promptly executed a sequence of strategic actions, encompassing vital designations such as Deborah Guivisdalsky as Chief Operating Officer. These modifications, combined with the company&#8217;s venture into fresh territories like the Mendoza region in Argentina, indicate a phase of vigorous growth and evolution for Codere Online. <\/p>\n<p>Prior to his role at Codere Online, Guivisdalsky cultivated his skills as a VIP Manager at Ladbrokes in Gibraltar. <\/p>\n<p>Oscar Iglesias, the Chief Financial Officer of Codere Online, conveyed his contentment with the company&#8217;s robust revenue expansion for the quarter. He was especially heartened by the notable enhancement in adjusted EBITDA, emphasizing their calculated decrease in marketing expenditures as a contributing element. This action, he stressed, is a component of a broader strategy to propel sustainable growth and generate value for their stakeholders.<\/p>\n<p>Looking forward, Codere Online maintains confidence in attaining its net gaming revenue objective of \u20ac140-150 million for the year. While the adjusted EBITDA target range persists at -\u20ac20 to -\u20ac30 million, the company&#8217;s strong first-quarter results have bolstered their positive outlook. They now project reaching the upper limit of that range and are well-situated to achieve favorable EBITDA and cash flow for the entirety of 2024. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Codere Online&#8217;s recently published financial report for the first quarter of 2023 reveals substantial expansion and a promising forecast for the remainder of the year. The firm experienced a 57%&hellip;<\/p>\n","protected":false},"author":48,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Codere Online Q1 2023: Soaring Revenues &amp; Growth \ud83d\ude80<\/title>\n<meta name=\"description\" content=\"Codere Online explodes in Q1 2023 with a 57% surge in revenue! 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