The opposite effect of currencies has produced a slight decrease in turnover (5.4%). However, at a constant exchange rate, the Group's revenues increased by 11.2% compared to 2017. In addition, the final result was affected by the non-recurring extraordinary expenses generated by the change in the management team.
In Spain, Codere increased its turnover by 17.3% to 51.3 million euros, due in particular to the company's growth in online and face-to-face sports betting, among other factors.
In addition, Codere reported that the number of machines has increased 2.4%, to 56,571, compared to 55,263 in the same period of 2017. This growth has been led by Spain (5.1%), Mexico (4, 4%) and Italy (1.0%).
Vicente Di Loreto, CEO of Codere, commented: "As a great company, we are exposed to the fluctuations of currencies in the markets where we operate, but that does not affect our capacity for organic growth and development. This first quarter is only the beginning of a new stage, and we are already demonstrating operational improvements and results above expectations, thanks to the support and collaboration of the management team and all our employees."
Source: GMB
