TLDR Codere Online reported record Q2 2026 results, with net gaming revenue of €69.4 million, up 27% year over year Spain revenue grew 25% and Mexico revenue grew 24% during the quarter The company swung to a net profit of €5.6 million from a net loss the year before Codere Online raised its full year 2026 revenue and EBITDA guidance The 2026 World Cup helped bring in close to 40,000 new customers
Codere Online has released its financial report for the second quarter of 2026. The company posted its best quarterly results to date.
Net gaming revenue reached €69.4 million for the six months ending June 30. That figure was 27% higher than the same period last year.
Total revenue for the period came in at €64.4 million. The company said growth was strong across its main markets.
Profit also improved during the quarter. Adjusted EBITDA rose to €5.8 million.
Codere Online reported a net profit of €5.6 million for the first half of 2026. This compares to a net loss of €3.1 million in the same period last year.
The company ended June with €62.6 million in cash. It also reported no financial debt.
Spain and Mexico Drive Growth
Spain remained one of Codere Online’s top markets. Net gaming revenue there grew 25% to €27.6 million.
Mexico also posted strong numbers. Net gaming revenue in Mexico reached €36.1 million, a 24% increase from the year before.
CEO Aviv Sher said the second quarter showed even stronger growth than the first. He pointed to the World Cup as a factor in customer activity.
Sher said the growth was seen across the company’s core markets. He added that the business is showing strong momentum.
Company Raises Full Year Guidance
After the record quarter, Codere Online raised its guidance