Codere Online seeks new CFO as Oscar Iglesias steps down
Iglesias will leave the role by the end of the year.
Spain.- Codere Online has announced that it is seeking a new chief financial officer (CFO). The company said that Oscar Iglesias had decided to step down from the role for personal reasons. He will depart on December 31 following a transition period.
Iglesias has been with Codere Online since 2021. He will now be reappointed to the company’s board, where he formerly served between 2021 and 2023 and where he will remain involved in shaping strategic direction.
The company said Iglesias has been instrumental in leading the Company through its 2021 public listing via its merger with DD3 Acquisition Corp. II, strengthening its capital position and enhancing its visibility in the market. Before joining the spinoff, Iglesias spent six years at Codere Group, Codere Online’s parent company, where he served as global head of corporate development and deputy CFO.
Gonzaga Higuero, chairman of the Codere Online board, said: “We are grateful to Oscar for his leadership and dedication over the past decade. He has been a trusted partner and a driving force behind our journey from a private company to a Nasdaq-listed organization. We are pleased that he will remain closely involved with the Company as a member of our Board.”
Iglesias said: “I am very proud of what we have accomplished together, having successfully delivered on the plan we set out to investors in 2021. While I have made the personal decision to move on from a day-to-day role in the Company, I look forward to continue supporting Codere Online as both a Board member and shareholder of the Company.”
Codere Online reported Q2 2025 revenue of €51.4m, with net gaming revenue up 1 per cent (and 12 per cent in constant currency) to €54.8m.
The company has a presence in Spain and Latin America. Mexico led its recent growth, contributing €29m in net gaming revenue, a rise of 3 per cent nominal and 23 per cent in constant currency. In Spain, revenue was flat at €21.8m.
The net loss for the first half was €3.1m compared to €0.2m in H1 2024, mainly due to the impact of exchange rates.
The operator maintains its 2025 net gaming revenue outlook of €220-230m and adjusted EBITDA forecast of €10-15m. It noted that it had repurchased $0.7 million of shares under the company’s $5m share buyback plan through July 30, 2025.
In other executive movements this week, Denmark’s Danske Spil has named Jeppen Juul Andersen as chief business development and innovation officer. He will be responsible for evaluating new solutions to keep up with what he described as an “ever-changing and highly competitive market.”
Danske Spil is 80 per cent owned by the Danish state and employs around 480 people. It has over 20 brands, including online gaming offerings and contributes around DKK1bn ($124m) a year to cultural, sporting and community initiatives in Denmark.
