Codere Online announced its financial results for the second quarter of 2026 on July 30. The operator recorded a net gaming revenue of €69.4m, marking a 27 percent increase compared to the same period last year.
Total revenue for the quarter ending June 30 reached €64.4m. Growth was driven by core markets, with Spain generating €27.6m and Mexico contributing €36.1m. Both regions showed double-digit year-on-year growth of 25 percent and 24 percent respectively.
Profitability and Cash Position
Adjusted EBITDA for the quarter stood at €5.8m, an increase of €3.5m year on year. Over the first six months of 2026, the company's total net gaming revenue reached €133.8m, representing a 20 percent rise. CFO Marcus Arildsson noted that the company closed June with approximately €63m in cash and no financial debt.
CEO Aviv Sher attributed the results to broad-based performance across markets and increased customer engagement during the World Cup. The company described the quarter as its strongest performance to date, with profitability rising despite continued investment in growth.