Codere Online Boosts Revenue and Raises Full-Year Outlook on World Cup Momentum
Event summary
- Codere Online reported Q2 2026 net gaming revenue of €69.4 million, up 27% year-over-year.
- Adjusted EBITDA reached €5.8 million, more than doubling from Q2 2025.
- Total cash position stood at €62.6 million with no financial debt as of June 30, 2026.
- The company raised its full-year outlook for net gaming revenue to €255-265 million and Adjusted EBITDA to €20-25 million.
The big picture
Codere Online's strong Q2 2026 results highlight the company's ability to capitalize on major sporting events like the World Cup, driving significant revenue growth. The raised full-year outlook reflects broader industry trends of increasing digital engagement in online gaming and sports betting. As the company continues to invest in growth, its strategic focus on core markets in Spain and Latin America positions it for sustained expansion.
What we're watching
- Sustainable Growth
- Whether Codere Online can maintain its accelerated growth trajectory beyond the World Cup boost.
- Market Expansion
- The pace at which the company can expand its presence in Latin America and other core markets.
- Regulatory Compliance
- How changes in online gaming regulations could impact Codere Online's operations and financial performance.
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