TLDR Codere Online reported second quarter net gaming revenue of €69.4 million, up 27% year-on-year. Spain, Mexico and other markets all posted double digit or higher revenue growth. Average monthly active players rose 12% to 173,000 during the quarter. Adjusted EBITDA more than doubled to €5.8 million compared to the same period last year. The company raised its full year 2026 revenue and EBITDA guidance following the results.
Codere Online has released preliminary unaudited results for the second quarter ended June 30, 2026. The company reported its strongest quarterly performance to date.
Net gaming revenue reached €69.4 million during the quarter. That marks a 27% increase from €54.8 million in the same period last year.
Growth came from every region the company operates in. Spain generated €27.6 million, up 25% from a year earlier.
Mexico contributed €36.1 million, a 24% increase. Other markets combined for €5.7 million, up 54%.
For the first six months of 2026, net gaming revenue totaled €133.8 million. That represents 20% growth compared to the first half of 2025.
Player Numbers Climb Across Markets
Average monthly active players grew to 173,000 in the second quarter. That is a 12% rise from the prior year.
Spain recorded 54,400 average monthly active players, up 11%. Mexico reached 88,200 players, growing 3%.
Smaller markets outside Spain and Mexico saw the largest jump. Active players there rose 54% to 30,400.
Across the first half of the year, average monthly active players increased 13% to 178,300.
CEO Aviv Sher said the second quarter showed acceleration after a strong start to the year. He credited the World Cup with adding to customer activity and engagement.
CFO Marcus Arildsson said net gaming revenue was around €15 million above the prior year period. He said adjusted EBITDA reached approximately €6 million,