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/Mis Actual Consensu

s s

Estimate

Q3 Miss EUR 47.7 EUR

Revenue mln 55.82

mln (4

Analysts

)

Q3 Net Miss EUR 1.40 EUR 2.73

Income mln 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 ( CDRO ) 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:

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(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.)