Key points:
- Codere Online has regained compliance with Nasdaq listing rules after filing its 2024 annual report
- The company has thus avoided delisting and will remain on the Nasdaq Capital Market
- This follows a strong Q1 2025, with revenue growth led by the Mexican market
Codere Online has announced it is once again in compliance with the Nasdaq Capital Market's listing requirements, following the successful filing of its annual report for 2024.
The Luxembourg-based operator received formal confirmation from Nasdaq today that the delisting process has been halted.
The company had previously faced non-compliance with Nasdaq Listing Rule 5250(c)(1) due to a delay in submitting its 2024 Form 20-F annual report to the US Securities and Exchange Commission.
Codere Online submitted the required filing on 2 June 2025, resolving the issue and prompting Nasdaq to cancel a delisting hearing that had been requested on 22 May.
The development ensures that Codere Online’s securities will continue trading on the Nasdaq Capital Market without interruption.
This regulatory update comes on the heels of a strong Q1 2025 for the company. Net gaming revenue rose 8% year-on-year to €57m, driven largely by continued growth in Mexico, which offset a slight decline in the Spanish market.
Despite reporting a modest net loss of €0.7m, Codere Online has reaffirmed its full-year guidance of €220 - 230m in revenue and €10 - 15m in adjusted EBITDA.
Beyond this, the company has also expanded its content offerings through a number of partnerships, including a recent collaboration with Greentube that brought a range of gaming titles to the Spanish market after nearly two years of technical integration.
