The company is in the process of completing and submitting Form 20-F for 2023 as soon as possible.
Spain.- Codere Online announced that The Nasdaq Stock Market (Nasdaq) has accepted its request for a hearing in order to appeal the decision to delist it from this stock market.
In its financial report for the third quarter of 2024, the company reported that the hearing is scheduled for January 16, 2025.
In mid-November, Nasdaq notified that the delisting was due to the fact that Codere Online had not submitted its Form 20-F, corresponding to the fiscal year ended December 31, 2023, in compliance with the continuous listing rule 5250, which regulates public information.
According to the online operator, the delay in filing the form was due to the fact that the audit of its financial statements for the three fiscal years closed in 2023 "took longer than expected, after hiring a new independent public accounting firm in March 2024."
In a recent statement, Codere Online affirmed that it continues "working diligently to complete and submit Form 20-F for 2023 as soon as possible."
Last week, Codere Online shared its financial results obtained throughout the third quarter of the year. According to the report, the total revenues amounted to EUR49.2m between July and September of this year, while the net gaming revenues were EUR51.7m, representing a 20 percent increase compared to the same period last year.
Of the total, Mexico contributed EUR24.2m along with net gaming revenues of EUR26.7m. These figures represent a 27 percent increase compared to the third quarter of 2023. As for Spain, net gaming revenues stood at EUR20.9m in the previous three months, that is, an 11 percent increase compared to the third quarter of 2023.
