Codere Online Luxembourg, S.A. (NASDAQ:CDRO) Q2 2022 Earnings Conference Call September 1, 2022 8:30 AM ET

Company Participants

Guillermo Lancha - Head of Investor Relations

Moshe Edree - Chief Executive Officer

Oscar Iglesias - Chief Financial Officer

Conference Call Participants

Jeff Stantial - Stifel

Patrick McCann - Noble Capital Markets

Mike Hickey - The Benchmark Company

Operator

Hello and thank you for standing by. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to the Codere Online Second Quarter 2022 Earnings Presentation. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Guillermo Lancha, Head of Investor Relations. Please go ahead.

Guillermo Lancha

Thanks, operator, and welcome everyone to Codere Online’s earnings call for the second quarter of 2022. Today you will hear from CEO, Moshe Edree and CFO, Oscar Iglesias. Before turning the call over to Oscar, I’d like to remind everyone that during this call we will be referring to a presentation we uploaded to our website earlier today, which includes non-GAAP financial metrics such as Net Gaming Revenue or Adjusted EBITDA, for which you can find reconciliations in the appendix of the presentation.

Finally, please note that a replay and transcript of this call will be available on our website at codereonline.com where you can also sign up to our Investor Email alerts.

With this, over to you Oscar.

Oscar Iglesias

Great, thanks, Guillermo and good morning or good afternoon to everyone joining the call. Before moving into details regarding the quarter, let me again remind you that Codere Online is Luxembourg based and as a European company our accounting information is prepared under IFRS accounting standards and our functional currency is the euro. As such, throughout this presentation, all monetary figures will be in euro unless are expressed otherwise.

Please also note that the historical consolidated income statements and accountable net gaming revenue and adjusted EBITDA figures have been moved to the back of the presentation. And we will be focusing on the quarter, year-to-date, and LTM figures in this and subsequent quarterly presentations, in each case versus applicable prior year periods.

With that, I will go ahead and pass the call on to Moshe.

Moshe Edree

Thanks Oscar and thanks everybody for joining the call. For those of you who are new to the company, I would like to provide a quick overview of Codere Online. I joined the company in late 2019 when it was a wholly owned subsidiary of Codere Group, which is a Madrid based gaming operator over 30 years of retail gaming operation expertise in Spain, Italy, and Latin America.