Codere, the leading Spanish gaming and betting company, recently reported record Q3 results and upgraded its 2023 forecasts. The company reported a total net revenue of €1.1 billion, up 8.2% from the same period last year. This was driven by strong growth in both its online and retail businesses.

In the online sector, net revenue rose by an impressive 25.2% to €303.4 million. This was driven by a strong performance in the company’s sports betting and casino offerings. In the retail sector, net revenue rose by 4.1% to €812.5 million. This was driven by a strong performance in the company’s gaming machines and bingo offerings.

The company also reported a strong increase in its EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). EBITDA increased by 11.2% to €221.7 million, driven by higher revenues and cost savings initiatives.

In addition to its strong financial results, Codere also upgraded its 2023 forecasts. The company now expects to generate net revenue of €2.4 billion and EBITDA of €400 million by 2023. This is an increase from its previous forecast of €2.2 billion and €370 million respectively.

Overall, Codere’s Q3 results and upgraded 2023 forecasts demonstrate the company’s strong performance and growth potential. The company’s focus on both its online and retail businesses has enabled it to capitalize on the growing demand for gaming and betting services. With its strong financial results and upgraded forecasts, Codere is well positioned to continue to grow and succeed in the years ahead.