Poker & eGaming News
Follow
Find tag "codere"
29.4K views | +0 today
Poker & eGaming News
Industry news about online real-money gambling
Curated by Carl Zide
Your new post is loading...
Your new post is loading...
Scooped by Carl Zide
Scoop.it!

Codere turnover 820 MEUR H1 2012, Yogonet

Codere turnover 820 MEUR H1 2012, Yogonet | Poker & eGaming News | Scoop.it

Turnover during the first half of 2012 totalled 819.7 million euros, 29.7% more than in 2011. The Gross Operating Profit, EBITDA, reached 155.5 million euros during the first
half of the year, representing an increase of 15.3% with respect to the previous year. In the second quarter 2012, EBITDA totalled 76.8 million euros, exceeding the company’s forecast for this period, which had estimated this figure at around 68-71 million euros.

 

In Argentina, turnover totalled 328.1 million euros, up 27.5% with respect to the previous year, while EBITDA amounted to 89 million euros. This growth stemmed primarily from an increase in the number of terminals, 11.1% more than in 2011, and from the average daily revenues obtained per machine, an increase of 18.5% in euros.

 

Other sources:

http://www.igamingbusiness.com/content/codere-first-half-turnover-rises

more...
No comment yet.
Scooped by Carl Zide
Scoop.it!

Codere Backs Spanish Betting Expansion, Daniel Macadam GamblingCompliance

Codere Backs Spanish Betting Expansion, Daniel Macadam GamblingCompliance | Poker & eGaming News | Scoop.it

Madrid-listed Codere intends to make betting the “cornerstone” of its Spanish strategy this year as it expands into online gambling in its home market, according to its chairman and chief executive.

 

The Madrid-based company has more than tripled the number of betting points in Spain to 708 over the last two years, albeit from a relatively small base, according to first-quarter results published on Friday.

 

The bingo, casino and betting company has filed around a dozen injunctions against the largest Spanish-facing online gambling operators with mixed success.

London-listed Sportingbet was forced to shutter its market-leading “miapuesta” sites in March, but attempts to do the same to PokerStars, Bwin and Betfair have so far failed.

 

Group revenues jumped 32 percent to €403.3m in the first quarter to help earnings before interest, tax, depreciation and amortisation (EBITDA) rise 17 percent to €78.9m. Codere has become increasingly reliant on its Latin American businesses, which accounted for 74 percent of revenues, and a whopping 86 percent of EBITDA, in the first quarter of 2012.

 

Q1 Revenues by Segment

Euros (€) Q1 2011 Q1 2012
Argentina 128.6m 160.4m
Mexico 52.7m 101.2m
Italy 46.8m 64.7m
Spain 43.6m 39.4m
Other Operations:
- Brazil 0.9m 1.0m
- Colombia 7.1m 8.3m
- Panama 21.4m 22.0m
- Uruguay 4.8m 6.1m

TOTAL 305.9m 403.3m

 

Other sources:

http://www.gamingintelligence.com/premium-news-and-archive/16011-strong-q1-revenue-growth-for-codere-despite-spanish-woes

more...
No comment yet.
Scooped by Carl Zide
Scoop.it!

Spanish Codere expands operations in Italy, Gaming Intelligence

Spanish Codere has acquired a 60 per cent holding in Italian DP SERVICE for an undisclosed amount. Codere said that the deal would enable the company to expand its product offering in Italy with an additional 2,000 gaming machines.

more...
No comment yet.
Scooped by Carl Zide
Scoop.it!

Success in LatAm offsets Codere’s Spanish decline, Robin Harrisson EGR Magazine

Success in LatAm offsets Codere’s Spanish decline, Robin Harrisson EGR Magazine | Poker & eGaming News | Scoop.it

Spanish operator Codere has seen its operating revenue rise significantly year-on-year in the three months ending 31 March 2012 after strong performance from its Latin American operations, but increased operating expenses and a decline in the group’s Spanish business, ahead of the issuing of licences on 1 June, has hit the company’s pre-tax profit.

 

Profit before tax fell 16% year-on-year, from €17.5m to €14.7m for the period, after operating expenses rose 36.5% to €363.2m. This came alongside a drop in Spanish revenues, which fell from €43.6m to 39.4m – down 9.6% on 2011.

 

The company has issued a series of injunctions against international operators looking to launch in the regulated Spanish market on the basis that such companies, including PokerStars and Sportingbet’s Spanish-facing Miapuesta brand, had an unfair advantage after offering egaming services pre-regulation without having to pay tax on their activities.

more...
No comment yet.