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Codere Q1 earnings ahead of forecast

17th May 2010 9:05 am GMT

Spanish gaming group Codere S.A said Friday that earnings for the first quarter of 2010 reached €54.4m, exceeding the company's previous guidance range of €48m to €50m, following a marginal increase in revenues during the period.

During the quarter Codere benefited from revenue growth in Argentina which offset declines in Mexico, Spain AWP, Italy, and other operations.

Revenues in Argentina increased by 7 per cent to €100.1m due to an increase in daily net win per machine [...]

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