Professional
Added to YB: 2024-05-10
Pitch date: 2024-03-31
CDRO [bullish]
Codere Online Luxembourg, S.A.
+37.75%
current return
Author Info
No bio for this author
Company Info
Codere Online Luxembourg, S.A., together with its subsidiaries, operates as an online casino gaming and sports betting company in Spain, Mexico, and internationally.
Market Cap
$379.2M
Pitch Price
$6.94
Price Target
N/A
Dividend
N/A
EV/EBITDA
52.21
P/E
294.16
EV/Sales
1.58
Sector
Hotels, Restaurants and Leisure
Category
value
Baron Global Advantage Fund Portfolio Holding: Codere Online Luxembourg, S.A.
CDRO +140% as Q1 beat cons w/ 33% YoY NGR growth, guiding for '24 pos. adj EBITDA. Profitability inflecting post LatAm investment period as existing cohort mix grows. 1.3x EV/S '24 cons (1.1-1.2x on our ests) vs peers 3-4.5x. Still early in €4B TAM across Mex, Col, Pan, Arg.
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