Italy and Mexico help Codere to strong Q3 figures
Spanish operator sees operating revenue rise as it prepares to apply for an online licence in its home territory.
Spanish operator Codere, that is due to apply for a Spanish licence in the next few days, has seen its operating revenue climb by 17.5% to 145.4m in the three months to 30 September 2011, after strong growth in Italy and Mexico, the company has announced.
The Spanish operator’s Italian revenues grew by 86.9% due to the roll-out of VLTs and the consolidation of its acquisitions in the territory, while an increase in the net win per machine per day in Mexico helped push revenues from 56.6 to 75.1m.
Total net income for the quarter was 21.9m, compared to a loss of 6.6m in 2010, however this growth was offset by a 14% decrease in Spanish revenue, attributed to a decrease in machine and bingo hall revenues and poor economic conditions, despite an increase in sports betting income.