Regained NASDAQ Compliance
Codere Online confirmed compliance with all applicable NASDAQ listing requirements following the filing of their 2023 and 2024 annual reports, eliminating uncertainty around their continuity as a publicly traded company.
Increased Net Gaming Revenue (NGR) in Constant Currency
Despite a flat EUR 55 million in NGR, constant currency terms would have shown nearly EUR 61 million, a 12% increase over the prior year period.
Growth in Active Customers and First-Time Depositors
The average monthly active customers increased by 7%, and the company acquired 78,000 first-time depositors, a 7% increase from the previous year.
Positive Adjusted EBITDA
Adjusted EBITDA was positive EUR 2.3 million, with a notable contribution from the Spanish market, showing a 5% increase over the prior year.
Successful Cost Management
Overall cost control contributed to a EUR 1 million increase in adjusted EBITDA compared to Q2 2024.
Improved Cash Flow Position
The company generated over EUR 5 million in cash flow for the first half of 2025, despite a negative FX impact.