{"id":145,"date":"2024-06-16T11:08:16","date_gmt":"2024-06-16T08:08:16","guid":{"rendered":"https:\/\/slotsgardennodepositbonuscodes.icu\/2024\/06\/16\/codere-online-starts-2023-strong-with-soaring-revenue-and-leadership-changes\/"},"modified":"2024-06-20T17:14:45","modified_gmt":"2024-06-20T14:14:45","slug":"codere-online-starts-2023-strong-with-soaring-revenue-and-leadership-changes","status":"publish","type":"post","link":"https:\/\/slotsgardennodepositbonuscodes.icu\/2024\/06\/16\/codere-online-starts-2023-strong-with-soaring-revenue-and-leadership-changes\/","title":{"rendered":"Codere Online Starts 2023 Strong with Soaring Revenue and Leadership Changes"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/H3kJtMELiEY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A major contender in the digital gaming world, Codere Online, experienced a bustling commencement to 2023 within Spain and Latin America.  The company opted for a strategic withdrawal from the Cordoba region while simultaneously securing a presence in the up-and-coming Mendoza territory.  These developments coincided with a reported 57% surge in earnings, reaching \u20ac37.6 million ($41.1 million) within the initial quarter.<\/p>\n<p>Much of this triumph can be linked to their assertive promotional efforts during the World Cup. This strategy yielded a significant influx of fresh patrons, particularly within their primary Spanish and Mexican markets.  These newcomers remained engaged, sustaining the positive trajectory throughout the first quarter.  Codere Online&#8217;s offerings extend beyond sports wagering; they&#8217;ve successfully captivated players with their casino options, which now constitute over half (53%) of their gaming income.<\/p>\n<p>The financial outlook appears bright, with a considerably reduced net deficit (\u20ac1.3 million) in contrast to the same period the previous year (\u20ac10.1 million).  They&#8217;re even projecting profitability (positive EBITDA) by year&#8217;s end.<\/p>\n<p>Notable shifts have occurred within the leadership structure, with Aviv Sher assuming the CEO position and Deborah Guivisdalsky taking on the critical COO role.  With a robust start to the year and a refreshed leadership team, Codere Online appears well-positioned for sustained expansion. <\/p>\n<p>Prior to assuming a crucial position at Codere Online, Guivisdalsky cultivated his expertise overseeing high-value clientele at Ladbrokes in Gibraltar.<\/p>\n<p>Oscar Iglesias, the Chief Financial Officer of Codere Online, expressed particular enthusiasm regarding the company&#8217;s recent achievements. &#8220;We are delighted with the robust revenue expansion this quarter, and even more so with the substantial enhancement in adjusted EBITDA,&#8221; he stated. He attributed a portion of this triumph to a reduction in marketing expenditures during the quarter, emphasizing their dedication to sustainable growth for their investors.<\/p>\n<p>Looking forward, Iglesias forecasted net gaming revenue to range between \u20ac140 million and \u20ac150 million for the entire year. While they anticipate an adjusted EBITDA deficit between \u20ac20 million and \u20ac30 million, their impressive first-quarter performance has them targeting the upper limit of that projection.  Moreover, they are confident about attaining positive EBITDA and cash flow for the entirety of 2024. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major contender in the digital gaming world, Codere Online, experienced a bustling commencement to&#8230;<\/p>\n","protected":false},"author":86,"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 Sees 57% Revenue Surge<\/title>\n<meta name=\"description\" content=\"Codere Online kicks off 2023 with a 57% revenue surge, hitting \u20ac37.6 million in Q1. Strategic moves in Spain and Latin America fueled growth. 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