Codere Online files 2024 annual report with the SEC
The company affirms it is now in compliance with the Nasdaq Listing Rule.
Key Points
- The filed report is for the 2024 fiscal year
- Codere said by filing this report, a previously requested delisting determination hearing is no longer needed
Codere Online Luxembourg, S.A. has filed its annual report on form 20-F with the US Securities and Exchange Commission (SEC) for the 2024 fiscal year, which ended December 31.
The company currently has iGaming operations in Latin America and Spain.
Codere said it believes by filing this report, the company has regained compliance with the Nasdaq Listing Rule 5250(c)(1).
Codere said in a statement, “As a result, the company believes that the hearing requested on May 22 to review the delisting determination received on May 16 will no longer be necessary. The company awaits Nasdaq’s formal confirmation that it has evidenced full compliance with the rule.”
Codere Online recently shared its financial and business results for the first quarter of 2025, highlighting the results of its operations in Mexico.
Revenue from its operations in Mexico reached $30.9m in the first quarter. Net gaming revenue for the Mexican region grew by 15% year-over-year and reached nearly $31.2m in Q1.
Overall company revenue totaled $60.8m in the first quarter, while total company net gaming revenue reached $63.8m. By the end of the quarter, the company reported a total cash position of $46.8m. Codere’s first quarter ended March 31.
Company shareholders recently greenlighted the repurchase of up to $1m of Codere Online’s ordinary shares over a one-year period, for a total investment of up to $5m. This was approved by the company’s Board of Directors in March.
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