{"id":99,"date":"2024-06-14T06:04:04","date_gmt":"2024-06-14T03:04:04","guid":{"rendered":"https:\/\/newnodepositcasinos.icu\/2024\/06\/14\/codere-online-reports-strong-q2-2022-results-despite-regulatory-headwinds\/"},"modified":"2024-06-17T13:09:57","modified_gmt":"2024-06-17T10:09:57","slug":"codere-online-reports-strong-q2-2022-results-despite-regulatory-headwinds","status":"publish","type":"post","link":"https:\/\/newnodepositcasinos.icu\/2024\/06\/14\/codere-online-reports-strong-q2-2022-results-despite-regulatory-headwinds\/","title":{"rendered":"Codere Online Reports Strong Q2 2022 Results Despite Regulatory Headwinds"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/mPo-LncvGcU\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Codere Online, an iGaming firm with operations in Spain, Mexico, and Colombia, announced robust financial results for the second quarter of 2022.  The company&#8217;s total revenue climbed to \u20ac27.4 million, a 36% surge compared to the corresponding period in the prior year. This expansion was driven by an especially remarkable showing in Mexico, where revenue nearly doubled on a year-over-year basis.  Despite the implementation of new marketing regulations in Spain, the company still witnessed a 12% revenue increase in the region.  Codere Online&#8217;s net gaming revenue also experienced a substantial rise, reaching \u20ac29.2 million, representing a 41% upswing.  This accomplishment is partially attributed to a rapid expansion of their clientele.  Codere Online drew in 29% more customers compared to the preceding year, approaching nearly 10.5 million monthly active users.  Significantly, almost 8.5 million customers placed their initial deposit, a 47% leap compared to the second quarter of the previous year.  Although the company recorded a net loss, it was considerably smaller than the previous year, decreasing from \u20ac16.8 million in Q2 2021 to \u20ac6.7 million in Q2 2022.  In summary, Codere Online possesses a strong cash reserve of \u20ac85 million and maintains a very positive outlook on its future possibilities. <\/p>\n<p>Revenue increases were already becoming apparent this year, with their gaming sector experiencing a robust second quarter.&#8221;<\/p>\n<p>This follows the online platform company&#8217;s disclosure of a \u20ac700,000 online fraud incident.  In an attempt to recoup the funds, Coderes absorbed a one-time, pre-tax expense of \u20ac700,000. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Codere Online, an iGaming firm with operations in Spain, Mexico, and Colombia, announced robust financial results for the second quarter of 2022. The company&#8217;s total revenue climbed to \u20ac27.4 million,&hellip;<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Codere Online Q2 2022: Revenue Soars 36%!<\/title>\n<meta name=\"description\" content=\"Codere Online reports booming Q2 revenue, fueled by impressive growth in Mexico. 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