Macau’s monthly gaming revenue rose 19% in June, exceeding analyst expectations as visitors poured in to the world’s biggest gambling hub for Cantonese pop concerts and other entertainment offerings https://t.co/vaCNNgfsve ...

Solid Half-Year Income in a period of significant growth investments Turnover: € 233.3 M (+5.7 %)EBITDA: € 55.3 M compared to 41.0 €M at 1st Half-year 2024Net Income: € 12.6 M compared to € 7.1 M at 1st Half-year 2024Financial situation: gearing of 0.5x and leverage of 2.4x Paris, 24th June 2025, 06:00 p.m. - During its meeting held on the 24th June 2025 and after having reviewed the management report of Groupe Partouche Executive Board, the Supervisory Board examined the audited accounts of the 1st half-ye ...

Solid growth in turnover in the first half of 2025:+5.7 % at € 233.3 MKey step towards exiting Financière Partouche safeguard plan Paris, 10th June 2025, 06:00 p.m. Groupe Partouche European leader in gaming, published this day its consolidated turnover for the 2nd quarter of fiscal year 2025 (February 2025 - April 2025) together with its consolidated turnover in the first half of 2025 (November 2024 – April 2025). Sustained activity in the first half of 2025 with a turnover up +5.7% to € 233.3 M The 1st ha ...

Financial Data and Key Metrics Changes - The company reported net gaming revenue of €57 million for Q1 2025, an 8% increase compared to Q1 2024 [10][13] - Adjusted EBITDA was €1.8 million, marking the fifth consecutive quarter of positive adjusted EBITDA at the consolidated level [13][14] - On a constant currency basis, net gaming revenue would have been €62 million, reflecting a 17% increase year-on-year [11][14] Business Line Data and Key Metrics Changes - The casino segment contributed 61% to total net gaming revenue, driven by a 13% increase in average monthly active users [11] - In Mexico, net gaming revenue grew 15% to €30.5 million, while in Spain, it remained flat at €22 million [13][16] - The average monthly spend per active customer decreased by 5% to €118 [11] Market Data and Key Metrics Changes - The Mexican peso devalued by over 16% in Q1 2025, impacting net gaming revenue by €5 million [16] - The number of average monthly active customers in Mexico increased by 31% year-on-year to 82,000 [17] - In Spain, the number of active customers rose by 4% year-on-year, reaching 52,000 [15] Company Strategy and Development Direction - The company is focusing on optimizing customer acquisition channels, particularly in Mexico, where growth opportunities remain compelling [17] - There is an ongoing effort to adapt promotional strategies in Spain to improve customer quality and retention [15][36] - The company plans to maintain its investment in Mexico while cautiously exploring opportunities in other markets like Panama and Argentina [48][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by currency fluctuations but expressed confidence in meeting full-year guidance for net gaming revenue between €220 million and €230 million [19] - The company expects a difficult comparison for Q2 results but anticipates less impact thereafter as they lap significant devaluation from the previous year [17] - Management is optimistic about resuming growth in Spain, supported by positive trends observed in recent months [65][66] Other Important Information - The company has initiated a share buyback plan of up to $5 million, with approximately $5 million already spent on repurchasing shares [12] - The company is currently under a mandatory monitoring period by NASDAQ but expects to resolve compliance issues soon [6][10] Q&A Session Summary Question: What is driving the decrease in customer acquisition cost despite increased user acquisition? - Management indicated that testing new traffic sources led to reduced CPA and higher first-time depositors, although the revenue impact was lower than expected [25][28] Question: What is the impact of competition on Spain's revenue growth? - Management confirmed that the reintroduction of welcome bonuses and increased competition are primary drivers for flat revenue growth in Spain [34][36] Question: How does the company view investment opportunities in other markets? - Management noted improvements in Panama and a cautious approach in Colombia, with plans to increase investment in Mexico [46][48] Question: Will Spain return to revenue growth for the rest of the year? - Management expressed confidence in resuming growth in Spain, supported by positive signals from KPIs [65][66] Question: What are the dynamics of the share repurchase program? - Management clarified that the board approved a $5 million buyback plan within a broader $10 million shareholder authorization [81][82] Question: Is there any progress on the Argentina license acquisition? - Management indicated that there has been no significant progress on the Argentina license acquisition due to pricing issues [84]

Financial Data and Key Metrics Changes - The company reported net gaming revenue of €57 million, an 8% increase compared to Q1 2024 [9][12] - Adjusted EBITDA was €1.8 million, marking the fifth consecutive quarter of positive adjusted EBITDA at the consolidated level [12][13] - On a constant currency basis, net gaming revenue would have been €62 million, reflecting a 17% increase year-on-year [10][12] Business Line Data and Key Metrics Changes - The casino segment contributed 61% to total net gaming revenue, driven by a focus on this segment and a lower sports margin in Mexico [10] - In Mexico, net gaming revenue grew 15% to €30.5 million, while in Spain, it remained flat at €22 million [12][15] - The average monthly active users increased by 13%, while the average monthly spend per active customer decreased by 5% to €118 [10][12] Market Data and Key Metrics Changes - The Mexican peso devalued by over 16% in Q1 2025, impacting net gaming revenue by €5 million [15][17] - The number of average monthly active customers in Mexico rose to 82,000, a 31% increase year-on-year [16] - In Spain, the number of active customers increased by 4% year-on-year, reaching 52,000 [14] Company Strategy and Development Direction - The company is focusing on optimizing customer acquisition channels and maintaining its market position in Mexico, which is seen as a core market with significant growth potential [16][62] - The management is adapting promotional strategies in Spain to improve customer quality and retention amid a competitive landscape [14][35] - The company plans to continue investing in Mexico while remaining cautious in other markets like Colombia and Argentina due to regulatory challenges [46][52] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by currency fluctuations but expressed confidence in meeting full-year guidance for net gaming revenue between €220 million and €230 million [19][50] - The company expects a difficult comparison for Q2 results but anticipates less impact thereafter as they lap significant devaluation from the previous year [17] - Management is optimistic about the potential for revenue growth in Spain, despite current competitive pressures [64] Other Important Information - The company has initiated a share buyback plan of up to $5 million, with approximately $5 million already spent on repurchasing shares [11][83] - The company is currently under a mandatory monitoring period by NASDAQ but has regained compliance by filing its 2023 annual report [5][6] Q&A Session Summary Question: What is driving the decrease in customer acquisition cost despite increased user acquisition? - Management indicated that testing new traffic sources led to reduced customer acquisition costs, although the revenue impact from these new customers was lower than expected [24][27] Question: What is the impact of competition on revenue growth in Spain? - Management confirmed that the reintroduction of welcome bonuses and increased competition have affected revenue growth, but they are seeing positive trends from adjusted promotional strategies [32][35] Question: Are there plans to increase investments in other markets? - Management noted improvements in Panama and a cautious approach in Colombia, with potential for increased investment in Mexico due to upcoming events [46][52] Question: Will Spain return to revenue growth for the rest of the year? - Management expressed confidence in resuming revenue growth in Spain, supported by positive KPI signals [64][66] Question: What is the rationale behind the share repurchase program? - Management explained that the board approved a $5 million buyback plan within a broader shareholder authorization, allowing flexibility in execution [82][83] Question: Any updates on the Argentina license acquisition? - Management indicated that progress remains stalled due to pricing issues, but they are still open to opportunities [86]

Core Insights - Codere Online reported a strong start to 2025, with net gaming revenue reaching €57.0 million in Q1, an 8% increase year-over-year [3][5] - The company is on track to meet its 2025 net gaming revenue outlook of €220-230 million and adjusted EBITDA outlook of €10-15 million [4][5] Financial Performance - Total revenue for Q1 2025 was €54.3 million, with net gaming revenue at €57.0 million, reflecting an 8% increase compared to Q1 2024 [5][8] - In Mexico, net gaming revenue grew by 15% to €30.5 million, while Spain saw a slight decline to €21.9 million, down 2% [2][3] - The average monthly active players increased by 13% to 161.3 thousand, with significant growth in Mexico at 31% [2][3] Operational Metrics - The total cash position as of March 31, 2025, was €41.8 million [5] - The company repurchased $0.5 million of its shares under a $5.0 million share buyback plan [5][9] Compliance and Governance - Codere Online regained compliance with Nasdaq listing requirements as of May 15, 2025 [9] - The company is actively working to complete the audit of its 2024 financial accounts and expects to file the 2024 annual report by the end of May 2025 [9]

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Q4 2024 Earnings Call Transcript February 20, 2025 8:30 AM ET Company Participants Guillermo Lancha - Head of Investor Relations Aviv Sher - Chief Executive Officer Oscar Iglesias - Chief Financial Officer Conference Call Participants Jeffrey Stantial - Stifel Ryan Sigdahl - Craig-Hallum Capital Group Michael Kupinski - Noble Capital Markets Operator Good morning and welcome to Codere Online Fourth Quarter 2024 Results Conference Call. All lines have been placed ...