{"id":264,"date":"2024-06-27T13:05:43","date_gmt":"2024-06-27T10:05:43","guid":{"rendered":"https:\/\/tashirodc.com\/2024\/06\/27\/codere-holds-onto-its-earnings-goal-despite-difficulties-in-argentina\/"},"modified":"2024-06-27T13:05:43","modified_gmt":"2024-06-27T10:05:43","slug":"codere-holds-onto-its-earnings-goal-despite-difficulties-in-argentina","status":"publish","type":"post","link":"https:\/\/tashirodc.com\/2024\/06\/27\/codere-holds-onto-its-earnings-goal-despite-difficulties-in-argentina\/","title":{"rendered":"Codere Holds onto its Earnings Goal Despite Difficulties in Argentina"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/YAbT_Epe9Oo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Codere Holds onto its Earnings Goal Despite Difficulties in Argentina &#8211; iGB<\/p>\n<p>In spite of the substantial devaluation of the Argentine Peso, Codere is keeping its profit targets for 2019. Argentina is a key area for the company.<\/p>\n<p>Codere Holds onto its Earnings Goal Despite Difficulties in Argentina<br \/>\nIn spite of the substantial devaluation of the Argentine Peso, Codere is keeping its profit targets for 2019. Argentina is a key area for the company.<\/p>\n<p>Earlier this month, the Peso dropped sharply after Peronist challenger Alberto Fernandez was projected to win the October election against pro-market incumbent Mauricio Macri in the preliminary elections.<\/p>\n<p>However, Codere stated that while its adjusted earnings projection for Argentina has been lowered from \u20ac67 million ($73.97 million) to \u20ac72 million to \u20ac61 million to \u20ac66 million since it released its first-quarter results in May, its overall EBITDA target stays the same, between \u20ac280 million and \u20ac290 million.<\/p>\n<p>Codere stated, &#8220;Despite the depreciation of the Argentine Peso, the group&#8217;s numbers remain stable due to the performance of markets such as Mexico and Uruguay surpassing expectations.&#8221;<\/p>\n<p>Specifically, adjusted EBITDA rose from \u20ac65 million to \u20ac70.3 million, an 8.2% year-on-year increase, despite a 29% decrease in Argentina from \u20ac24.4 million to \u20ac17.3 million over the same period. <\/p>\n<p>Codere emphasized that the robust performance of Mexico, Spain, Colombia, and Uruguay resulted in a 30.5% annual increase in group revenue outside Argentina in the second quarter, rising from \u20ac40.6 million to \u20ac53 million, suggesting a diminished reliance on the Argentine market.<\/p>\n<p>While Argentina&#8217;s revenue decreased by 27.2% annually in the second quarter, dropping from \u20ac109.9 million to \u20ac80 million, revenue outside the nation expanded by 3.3%, from \u20ac266.1 million to \u20ac274.9 million.<\/p>\n<p>Despite a 5.6% reduction in overall group revenue during the same period, falling from \u20ac376 million to \u20ac354.9 million, Codere highlighted that non-recurring expenses in the first half of 2019 were more than 50% lower than in the same period the previous year.<\/p>\n<p>Sign up for the iGaming News Newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Codere Holds onto its Earnings Goal Despite Difficulties in Argentina &#8211; iGB In spite of the substantial devaluation of the Argentine Peso, Codere is keeping its profit targets for 2019. Argentina is a key area for the company. Codere Holds onto its Earnings Goal Despite Difficulties in Argentina In spite of the substantial devaluation of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Codere Holds Firm on Earnings Despite Argentina Woes<\/title>\n<meta name=\"description\" content=\"Codere remains confident in its 2019 profit goals, even with the Argentine Peso\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tashirodc.com\/2024\/06\/27\/codere-holds-onto-its-earnings-goal-despite-difficulties-in-argentina\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Codere Holds onto its Earnings Goal Despite Difficulties in Argentina\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Codere remains confident in its 2019 profit goals, even with the Argentine Peso\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tashirodc.com\/2024\/06\/27\/codere-holds-onto-its-earnings-goal-despite-difficulties-in-argentina\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Best of Online Casino Gaming | Licensed &amp; 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