Codere Reports Net Loss

Spanish gaming firm Codere has announced a net loss of €74.7 million ($98.5 million) for the six months through to the end of June, in comparison with a loss of €42 million in the corresponding period of 2012.

The company cited a deterioration of its assets in Mexico, while revenue dipped by 3.9% to €787.6 million in its interim results.

Codere reported earnings before interest, tax, depreciation and amortisation of €112.5 million – a 27.7% fall on the previous year’s figures.

Improved sales in Uruguay and Italy helped the company to offset partially lower revenues in Argentina and Mexico.