Tuesday, February 22, 2022

Codere Online (CDRO)
Betting on Latin America

Codere Online Luxembourg SA is an operator in online gaming and online sports betting in Latin America. The company offers online casino through its website and mobile application.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating. We are initiating coverage of Codere Online. Codere Online is an international online casino and sportsbook company that operates in both Europe and Latin America. We believe the company has compelling growth prospects in Latin America, which is an emerging online gambling market.

Leveraging a strong brand.  Codere Online maintains a partnership with its parent company, Codere Group, an operator of casinos in Europe and Latin America for over 40 years. It has allowed Coder Online to quickly establish operations in Latin America, with the Codere Group providing in-person customer service, and customer data. Additionally, the partnership allows Codere Online to benefit from the …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.