Codere Online has recorded net gaming revenue of 69.4 million euros during the second quarter of 2026, representing a 27% increase compared to the same period last year.
The Spanish company has reported total revenue of 64.4 million, 25% more than in the second quarter of 2025. Meanwhile, adjusted Ebitda stood at 5.8 million, above the 2.3 million obtained the previous year.
By market, Spain contributed 27.6 million in revenue, up 25%, while Mexico remains the business’s growth engine, with 36.1 million, representing a year-on-year increase of 24%. The rest of the international operations, which include Colombia, Panama and Argentina, added 5.7 million, a 54% rise compared to 2025.
“After a solid start to the year, the second quarter showed greater acceleration and marked our best quarterly performance to date. Net gaming revenue reached 69 million, 27% more than the previous year, thanks to the additional boost that the 2026 FIFA World Cup provided to activity and customer engagement,” said Aviv Sher, CEO of Codere Online.
“This performance was widespread across our main markets and we are very pleased with the momentum we are seeing in the business,” he added.
The monthly average of active players has grown by 12% to 173,000. Spain recorded 54,400 active players, while Mexico totaled 88,200. The company’s other markets reported 30,400 users, up 54% compared to the same period of 2025.
The 2026 FIFA World Cup has boosted sales during the second quarter. According to Codere Online, the number of unique users exceeded that recorded during Qatar 2022 by 56%, except in Colombia. The company gained nearly 40,000 new customers during the competition.
Bets on the World Cup reached 63 million, a 180% increase compared to 2022. Net gaming revenue more than doubled, despite relatively good results for customers.
In the first half of the year, net gaming revenue rose 20%, to 133.8 million. Ebitda went from 4.1 to 11.9 million, while net profit reached 5.6 million euros, reversing the losses of 3.1 million recorded a year earlier.
Codere Online ended June with no financial debt and total cash of 62.6 million. Marcus Arildsson, the company’s CFO, indicated that these results represent a “step forward in financial performance” that has been achieved alongside investment in growth. Given the business performance in the first half of the year, management has revised its forecasts for the close of 2026 upward. The new net gaming revenue target stands between 255 and 265 million, while the adjusted Ebitda forecast has been raised to a range of between 20 and 25 million.