Codere Online (CDRO) Achieves 13% Revenue Growth in Q1 2026

AI Summary

Codere Online Luxembourg (NASDAQ:CDRO) reported a 13% year-over-year increase in net gaming revenue (NGR) for Q1 2026, totaling EUR 64.4 million. Significant growth was driven by Spain and Mexico, with Spain contributing EUR 20.5 million and Mexico EUR 34.6 million, representing 16.4% and 13.4% growth, respectively. Adjusted EBITDA rose to EUR 6.0 million, up from EUR 1.8 million a year earlier, improving the EBITDA margin to around 9%. The company's performance reflects robust market conditions and operational efficiencies despite a challenging operating environment.