Core Insights - Codere Online reported record net gaming revenue of €224.1 million and Adjusted EBITDA of €13.8 million for FY 2025, indicating strong financial performance [1][4]. Financial Performance - For Q4 2025, net gaming revenue reached €60.7 million, a 15% increase compared to Q4 2024, with significant contributions from Mexico, where revenue grew by 31% [3][6]. - The average monthly active players increased to 177.2 thousand in Q4 2025, a 20% rise from the previous year, driven by a 43% increase in Mexico [3][4]. - Total revenue for Q4 2025 was €57.1 million, with a notable Adj. EBITDA of €6.7 million, up €4.8 million from Q4 2024 [6][11]. Regional Performance - In Spain, net gaming revenue for Q4 2025 was €24.5 million, a 7% increase year-over-year, while Mexico's net gaming revenue reached €32.8 million, marking a 31% increase [3][10]. - The "Other" category saw a decline in net gaming revenue, dropping 26% in Q4 2025 compared to the previous year [3][10]. Future Outlook - The company anticipates net gaming revenue for FY 2026 to be in the range of €235-245 million and Adjusted EBITDA between €15 million and €20 million [4][6]. - The management expressed optimism regarding growth trends in both Mexico and Spain, positioning the company well for future performance [4][6]. Recent Developments - Codere Online renewed its online gaming license in Colombia for five years, expiring in November 2030 [9]. - The company has repurchased 391 thousand shares for a total of $2.7 million under its share buyback plan [9].

Core Insights - Codere Online has launched a new iOS Poker application in Mexico, aiming to enhance its online gaming product offerings and meet customer demand [1][5] - The iOS Poker app is developed in partnership with Playtech, integrating with their player-vs-player (P2P) Poker network, which enhances user experience through real-time competition and increased liquidity [2][6] - The company has observed strong demand for Poker in Mexico, with over 1,300 unique active users per month, indicating the product's relevance and growth potential [4] Product Development - The new iOS Poker app features a stable interface, cash tables, multi-table tournaments, Sit & Go formats, and fast-paced modes, while also incorporating responsible gaming tools [5][6] - The launch of the Poker app is part of Codere Online's strategy to broaden its product offerings and improve user experience across key gaming verticals [6] Market Position - Codere Online operates in several core markets including Spain, Mexico, Colombia, Panama, and Argentina, leveraging its physical presence in Latin America to support its online business [8] - The partnership with Playtech allows Codere Online to provide access to one of the most competitive poker networks in the industry, enhancing its market position [6]

Core Viewpoint - Codere Online, a leading online gaming operator in Spain and Latin America, is set to release its fourth quarter 2025 results on February 26, 2026, at 8:30 AM US Eastern Time, followed by a conference call for discussion and business updates [1]. Company Overview - Codere Online Luxembourg, S.A. and its subsidiaries collectively operate as Codere Online, which was launched in 2014 as part of the Codere Group, a renowned casino operator [3]. - The company provides online sports betting and online casino services through its advanced website and mobile applications, operating primarily in Spain, Mexico, Colombia, Panama, and Argentina [3]. - Codere Group, the parent company, is a multinational entity focused on entertainment and leisure, with a significant presence in the private gaming industry across seven countries in Europe and Latin America [4].

Group 1 - Codere Online Luxembourg, S.A. is a leading online gaming operator in Spain and Latin America, participating in upcoming investor conferences [1] - Key management attendees for the conferences include CEO Aviv Sher, former CFO Oscar Iglesias, CFO Marcus Arildsson, and Head of Investor Relations Guillermo Lancha [1] - Codere Online was launched in 2014 as part of the Codere Group, offering online sports betting and casino services through its website and mobile applications [3] Group 2 - Codere Group is a multinational entertainment and leisure company with over four decades of experience in the private gaming industry, operating in seven countries across Europe and Latin America [4] - The company operates in core markets including Spain, Mexico, Colombia, Panama, and Argentina, with a strong omnichannel presence combining online and physical gaming [3][4] - Upcoming investor conferences include the Annual Craig-Hallum Online Gaming Conference on December 2, 2025, and the BTIG Digital GameDay on December 10, 2025, both held virtually [5]

Core Viewpoint - Codere Online has appointed Marcus Arildsson as the new Chief Financial Officer, succeeding Oscar Iglesias, who will assist in the transition and is expected to join the Board of Directors pending shareholder approval [1][5]. Company Overview - Codere Online is a leading online gaming operator in Spain and Latin America, offering online sports betting and casino services through its website and mobile applications [6]. - The company operates in key markets including Spain, Mexico, Colombia, Panama, and Argentina, and is part of the Codere Group, which has a strong physical presence in these regions [6][7]. Leadership Background - Marcus Arildsson brings over 25 years of international finance experience, having worked in investment banking and corporate finance, including significant roles at Lehman Brothers and Merrill Lynch [2]. - He has executed over €9 billion in cross-border M&A, IPO, and equity-linked transactions and has advised on more than €5 billion in M&A, debt, and equity transactions during his tenure at Arcano Partners [2]. - Arildsson has held CFO and executive roles at various companies, including Millenium Hospitality Real Estate, Sonae Sierra, and Ladorian [3]. Executive Statements - Arildsson expressed enthusiasm about joining Codere Online, highlighting the company's strong execution and vision [4]. - CEO Aviv Sher emphasized the value of Arildsson's leadership and experience in executing the company's plans, while also acknowledging Oscar Iglesias's contributions during the transition [5]. - Chairman Gonzaga Higuero welcomed Arildsson, noting his extensive experience in corporate finance and investment banking as a significant asset to the leadership team [5].

Core Points - Codere Online Luxembourg, S.A. will release its third quarter 2025 results on November 17, 2025, before 8:30 AM US Eastern Time [1] - A conference call will be held at 8:30 AM US Eastern Time on the same day to discuss the results and provide a business update [1] - Earnings press release and related materials will be available on Codere Online's website [2] Company Overview - Codere Online operates as a leading online gaming operator in Spain and Latin America, offering online sports betting and casino services [3] - The company was launched in 2014 as part of the Codere Group, which has a strong physical presence in Latin America [3] - Codere Group is a multinational entertainment and leisure company with over four decades of experience in the private gaming industry, operating in seven countries across Europe and Latin America [4]

Core Viewpoint - Codere Online's Chief Financial Officer, Oscar Iglesias, is stepping down for personal reasons, with his departure effective upon the completion of a transition to his successor or by December 31, 2025 [1][4] Company Transition - The Board of Directors plans to appoint Mr. Iglesias to the Board, where he previously served from 2021 to 2023, ensuring his continued involvement in the company's strategic direction [2] - The company has initiated a search for a new Chief Financial Officer to ensure a seamless transition [4] Contributions and Background - Mr. Iglesias has been with Codere Online since 2021 and has played a significant role in its growth, including leading the company through its successful public listing in 2021 via a merger with DD3 Acquisition Corp. II [3] - Prior to joining Codere Online, Mr. Iglesias spent six years at Codere Group, serving as Global Head of Corporate Development and Deputy CFO [3] Company Overview - Codere Online operates as a leading online gaming operator in Spain and Latin America, offering online sports betting and casino services through its website and mobile applications [5] - The company is part of Codere Group, a multinational group with a strong presence in the private gaming industry across seven countries in Europe and Latin America [6]

Core Insights - Codere Online reported a net gaming revenue of €54.8 million for Q2 2025, a slight increase of 1% compared to Q2 2024, with a 12% increase in constant currency terms [4] - The company experienced a net loss of €3.1 million in H1 2025, compared to a net loss of €0.2 million in H1 2024, primarily due to adverse exchange rate impacts [4][10] - The company maintains its net gaming revenue outlook for 2025 at €220-230 million and an Adjusted EBITDA outlook of €10-15 million [4][10] Financial Performance - Total revenue for Q2 2025 was €51.4 million, with net gaming revenue at €54.8 million, reflecting a 1% increase year-over-year [4][7] - In Mexico, net gaming revenue grew by 3% to €29.0 million in Q2 2025, with a 23% increase in local currency terms [4][7] - The average monthly active players increased by 7% to 155.1 thousand in Q2 2025 compared to the previous year [2] Market Dynamics - The company faced challenges in various markets but managed to grow its active customer base in Mexico by 36% compared to Q2 2024 [4] - The total cash position as of June 30, 2025, was €45.2 million, indicating a stable liquidity position [4] - The company has repurchased $0.7 million of its shares under a $5.0 million share buyback plan, which is set to expire on March 3, 2026 [9]

Core Insights - Codere Online strengthens its partnership with Club de Futbol Monterrey by becoming the main sponsor of Rayadas, a prominent women's team in Liga MX Femenil [1][5] - The Codere Online logo debuted on the Rayadas match-day jersey on July 13, 2025, during the Apertura 25 tournament [2] - The partnership aims to enhance the visibility of women's football in Mexico through various campaigns and fan experiences [4] Company Overview - Codere Online operates as a leading online gaming operator in Spain and Latin America, offering online sports betting and casino services [8] - The company has a strong presence in core markets including Spain, Mexico, Colombia, Panama, and Buenos Aires, Argentina [8] - Codere Group, the parent company, has over four decades of experience in the entertainment and leisure industry, operating in seven countries across Europe and Latin America [9] Sponsorship Details - The sponsorship includes branding on the Rayadas jersey and participation in key matches, such as the "Campeón de Campeonas" trophy [2][5] - Codere Online's commitment to women's sports is highlighted by its previous partnership with the men's team, Rayados, and its ongoing support for Rayadas [5][6] - The collaboration reflects shared values of equity and excellence, aiming to promote the growth of women's football [4][6]

Core Viewpoint - Codere Online Luxembourg, S.A. is set to release its second quarter 2025 results on July 31, 2025, at 8:30 AM US Eastern Time, followed by a conference call for discussion and business updates [1]. Company Overview - Codere Online operates as a leading online gaming operator in Spain and Latin America, offering online sports betting and casino services through its advanced website and mobile applications [3]. - The company is part of the Codere Group, which has a strong presence in the private gaming industry with operations in seven countries across Europe and Latin America [4]. - Codere Online was launched in 2014 and has established a significant omnichannel gaming presence, supported by the physical operations of Codere Group in Latin America [3][4]. Upcoming Events - The earnings press release and related materials will be available on Codere Online's website, and details for the conference call will also be accessible there [2]. - A recording of the conference call will be made available after the event [2].