{"id":357,"date":"2024-06-18T04:28:35","date_gmt":"2024-06-18T01:28:35","guid":{"rendered":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/18\/codere-reports-strong-q3-2022-results-with-54-revenue-surge\/"},"modified":"2024-06-20T16:58:53","modified_gmt":"2024-06-20T13:58:53","slug":"codere-reports-strong-q3-2022-results-with-54-revenue-surge","status":"publish","type":"post","link":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/18\/codere-reports-strong-q3-2022-results-with-54-revenue-surge\/","title":{"rendered":"Codere Reports Strong Q3 2022 Results with 54% Revenue Surge"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/TnLEoLDKf7k\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A gaming firm, Codere, has announced a robust third quarter in 2022, achieving a 54% year-over-year surge in net gaming revenue, reaching \u20ac30.6 million (approximately US$31 million). This signifies substantial expansion compared to the \u20ac19.8 million generated during the corresponding period last year.<\/p>\n<p>The company&#8217;s positive results in the third quarter contributed to a favorable nine-month period concluding on September 30th.  The total net gaming revenue for the year thus far attained \u20ac85.2 million, marking a 40% rise from the \u20ac61 million documented in the same timeframe in 2021.<\/p>\n<p>Despite the encouraging revenue figures, Codere did disclose a net loss of \u20ac11.6 million for the quarter, resulting in year-to-date losses of \u20ac28.4 million.  Nevertheless, the company maintains a solid cash reserve of \u20ac72 million.<\/p>\n<p>Moshe Edree, Chief Executive Officer of Codere Online, attributed the company&#8217;s Q3 achievements to the &#8220;exceptional results&#8221; of its internet gaming activities. He emphasized the particularly remarkable performance in the Mexican market, where net gaming revenue escalated by a noteworthy 82%.  Even within Spain, where marketing limitations exist, Codere surpassed projections with a 29% revenue growth.<\/p>\n<p>Looking forward, Codere Online expresses positivity regarding the final quarter of the year, especially with the approaching FIFA World Cup.  CFO Oscar Iglesias conveyed confidence in reaching the higher range of their full-year net gaming revenue projections, narrowing the estimated span to between \u20ac115 million and \u20ac120 million. The company also conveys enthusiasm about the possibilities within the Argentinian market and aspires to become a prominent operator in the nation. <\/p>\n<p>Codere verified receiving the green light to conduct business within Argentina&#8217;s Cordoba region. The company plans to launch operations there at some point in 2023. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A gaming firm, Codere, has announced a robust third quarter in 2022, achieving a 54% year-over-year surge in net gaming revenue, reaching \u20ac30.6 million (approximately US$31 million). This signifies substantial expansion compared to the \u20ac19.8 million generated during the corresponding period last year. The company&#8217;s positive results in the third quarter contributed to a favorable [&hellip;]<\/p>\n","protected":false},"author":7,"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 Reports Soaring Q3 Revenue: 54% YoY Growth!<\/title>\n<meta name=\"description\" content=\"Gaming giant Codere just dropped its Q3 2022 report, and things are looking up! Net gaming revenue skyrocketed by 54% year-over-year. 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