Codere Online reported preliminary unaudited Q3 2026 revenue of €62.6m, up 31% year on year, while adjusted EBITDA increased 45% to €4.2m. Gaming Win, the operating measure the company now uses in place of Net Gaming Revenue, rose 30% to €67.1m.
Mexico drives growth
Mexico generated €32.9m of revenue, up 37%, and €37.2m of Gaming Win, up 39%. Spain contributed €24.8m of revenue and Gaming Win, both 13% higher year on year. Average monthly active players across the group rose 5% to 166,800, although Mexico's average monthly active player count fell 3% to 85,600.
For the first nine months, revenue reached €187.3m and net income was €11.1m, compared with a €1.7m loss a year earlier. Codere reported €65.6m in cash and no financial debt at 30 September. It maintained full-year guidance of €255m–€265m in Gaming Win and €20m–€25m in adjusted EBITDA.