Codere raises Q3 2026 adjusted EBITDA 39% to €65.4m
Results1 min read
Grupo Codere reported third-quarter 2026 gaming revenue of €344m, up 6% year on year, while adjusted EBITDA rose 39% to €65.4m. Online gaming revenue increased 30% to €67.1m, and online adjusted EBITDA reached €11.3m, compared with €6.2m a year earlier.
Grupo Codere reported gaming revenue of €344m in Q3 2026, up 6% from a year earlier. Adjusted EBITDA rose 39% to €65.4m in the quarter. Gaming revenue is the total amount wagered by customers less winnings paid out.
At constant exchange rates, revenue rose 5% and adjusted EBITDA increased 35%. The company said operating improvements in Mexico and performance in Argentina, Spain and online drove the increase in profitability.
Online gaming revenue rose 30% to €67.1m in Q3 2026 from the same quarter a year earlier. Online adjusted EBITDA was €11.3m, compared with €6.2m a year earlier.
Retail adjusted EBITDA reached €54 million for the quarter, a 32% increase, the company reported. On a rolling twelve-month basis, retail adjusted EBITDA reached €210.7 million at the end of September, up 23% year on year after eight consecutive quarters of growth.
Codere had €136.9m in liquidity at 30 September, comprising €71.3m in retail and €65.6m at Codere Online.