Online gambling operator Codere's Q3 revenue misses estimates

Codere Online Luxembourg SA

17/11/2025 12:43

Overview

Codere Online Q3 2025 revenue misses analyst expectations

Net gaming revenue flat in Q3 2025, despite currency headwinds in Mexico

Company repurchased $1.7 mln shares, buyback plan increased to $7.5 mln

Outlook

Codere Online maintains 2025 net gaming revenue outlook of €220-230 mln

Company expects 2025 Adj. EBITDA of €10-15 mln

Result Drivers

MEXICO CUSTOMER GROWTH - Active customer base in Mexico grew by 39% despite currency devaluation and low sports betting margins

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
EUR 47.7 mln
EUR 55.82 mln (4 Analysts)
Q3 Net Income
Miss
EUR 1.40 mln
EUR 2.73 mln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the casinos & gaming peer group is "buy"

Wall Street's median 12-month price target for Codere Online Luxembourg SA is $10.00, about 43.1% above its November 14 closing price of $5.69

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 26 three months ago

Press Release: ID:nGNEb0RDM8

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)