Codere Online Luxembourg, S.A. released its preliminary unaudited financial results for the second quarter ended June 30, 2025, on July 31, 2025. The company reported net gaming revenue (NGR) of €54.8 million, which was slightly above the prior year period despite facing headwinds across most markets.
Mexico demonstrated strong underlying trends, with NGR growing 23% in local currency, and the portfolio of active customers in the country increased by 36% compared to Q2 2024. This growth occurred despite a significant 19% devaluation of the Mexican peso during the quarter.
With the first half of the year concluded, Codere Online reiterated its 2025 guidance, expecting net gaming revenue between €220 million and €230 million and Adjusted EBITDA in the range of €10 million to €15 million. This reaffirmation signals management's confidence in achieving its financial targets despite ongoing challenges.
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