Codere Online Granted Listing Extension by Nasdaq and to Release Q4-24 Earnings on February 20th
Codere Online (NASDAQ: CDRO) has received a listing extension from the Nasdaq Hearings Panel, allowing the company to maintain its listing subject to filing its 2023 Annual Report by May 12, 2025. The extension was granted following a hearing on January 16, 2025, where the Panel reviewed the company's compliance plan for Listing Rule 5250(c)(1).
The company is actively working with its new auditor to complete and file the required 2023 Annual Report with the SEC within the granted extension period. Additionally, Codere Online has announced it will release its Q4 2024 financial results on February 20, 2025, before 8:30 AM US Eastern Time, followed by a management conference call to discuss results and provide a business update.
Codere Online (NASDAQ: CDRO) ha ricevuto un'estensione della quotazione dal Nasdaq Hearings Panel, che consente all'azienda di mantenere la sua quotazione a condizione di presentare il suo Rapporto Annuale 2023 entro il 12 maggio 2025. L'estensione è stata concessa dopo un'udienza tenutasi il 16 gennaio 2025, durante la quale il Panel ha esaminato il piano di conformità dell'azienda per la Regola di Quotazione 5250(c)(1).
L'azienda sta lavorando attivamente con il suo nuovo revisore per completare e presentare il Rapporto Annuale 2023 richiesto alla SEC entro il periodo di estensione concesso. Inoltre, Codere Online ha annunciato che pubblicherà i suoi risultati finanziari del Q4 2024 il 20 febbraio 2025, prima delle 8:30 AM ora orientale degli Stati Uniti, seguito da una conferenza telefonica di gestione per discutere i risultati e fornire un aggiornamento sull'attività.
Codere Online (NASDAQ: CDRO) ha recibido una extensión de cotización del Nasdaq Hearings Panel, lo que permite a la empresa mantener su cotización siempre que presente su Informe Anual 2023 antes del 12 de mayo de 2025. La extensión fue concedida tras una audiencia el 16 de enero de 2025, donde el Panel revisó el plan de cumplimiento de la empresa para la Regla de Cotización 5250(c)(1).
La empresa está trabajando activamente con su nuevo auditor para completar y presentar el Informe Anual 2023 requerido ante la SEC dentro del período de extensión otorgado. Además, Codere Online ha anunciado que publicará sus resultados financieros del Q4 2024 el 20 de febrero de 2025, antes de las 8:30 AM hora del Este de EE. UU., seguido de una conferencia telefónica de gestión para discutir los resultados y proporcionar una actualización del negocio.
Codere Online (NASDAQ: CDRO)는 Nasdaq Hearings Panel로부터 상장 연장을 받았으며, 이는 회사가 2023년 연례 보고서를 2025년 5월 12일까지 제출하는 조건으로 상장을 유지할 수 있도록 합니다. 이 연장은 2025년 1월 16일에 열린 청문회 후에 부여되었으며, 이 청문회에서 패널은 상장 규칙 5250(c)(1)에 대한 회사의 준수 계획을 검토했습니다.
회사는 새로운 감사인과 적극적으로 협력하여 연장 기간 내에 SEC에 요구되는 2023년 연례 보고서를 완료하고 제출하기 위해 노력하고 있습니다. 또한 Codere Online은 2024년 4분기 재무 결과를 2025년 2월 20일 오전 8시 30분(미국 동부 표준시) 전에 발표할 예정이며, 결과를 논의하고 사업 업데이트를 제공하기 위한 경영진 회의 전화도 진행할 예정입니다.
Codere Online (NASDAQ: CDRO) a reçu une extension de cotation du Nasdaq Hearings Panel, permettant à l'entreprise de maintenir sa cotation sous réserve de déposer son Rapport Annuel 2023 d'ici le 12 mai 2025. L'extension a été accordée à la suite d'une audience le 16 janvier 2025, au cours de laquelle le Panel a examiné le plan de conformité de l'entreprise pour la Règle de Cotation 5250(c)(1).
L'entreprise travaille activement avec son nouvel auditeur pour compléter et déposer le Rapport Annuel 2023 requis auprès de la SEC dans le délai d'extension accordé. De plus, Codere Online a annoncé qu'il publiera ses résultats financiers du T4 2024 le 20 février 2025, avant 8h30, heure de l'Est des États-Unis, suivi d'une conférence téléphonique de gestion pour discuter des résultats et fournir une mise à jour sur les activités.
Codere Online (NASDAQ: CDRO) hat eine Verlängerung der Listung vom Nasdaq Hearings Panel erhalten, die es dem Unternehmen ermöglicht, seine Listung aufrechtzuerhalten, sofern es seinen Jahresbericht 2023 bis zum 12. Mai 2025 einreicht. Die Verlängerung wurde nach einer Anhörung am 16. Januar 2025 gewährt, bei der das Panel den Compliance-Plan des Unternehmens für die Listing-Regel 5250(c)(1) überprüfte.
Das Unternehmen arbeitet aktiv mit seinem neuen Prüfer zusammen, um den erforderlichen Jahresbericht 2023 innerhalb des gewährten Verlängerungszeitraums bei der SEC einzureichen. Darüber hinaus hat Codere Online angekündigt, dass es seine Finanzergebnisse für das 4. Quartal 2024 am 20. Februar 2025 vor 8:30 Uhr US-Ostzeit veröffentlichen wird, gefolgt von einer Telefonkonferenz des Managements, um die Ergebnisse zu besprechen und ein Update zum Geschäft zu geben.
- Granted Nasdaq listing extension until May 12, 2025
- Company expects to meet compliance requirements within extension period
- Delayed filing of 2023 Annual Report
- Non-compliance with Nasdaq listing requirements
Insights
The Nasdaq extension granted to Codere Online represents a critical regulatory reprieve but signals deeper underlying issues that warrant investor attention. The delayed 2023 Annual Report filing and the engagement of a new auditor suggest potential material concerns with financial reporting or internal controls that required remediation. While the extension until May 12, 2025, provides breathing room, it's noteworthy that the company needs nearly 16 months after the fiscal year-end to complete its annual filing - an unusually long delay that raises red flags about financial complexity or possible control deficiencies.
The timing of the Q4 2024 earnings release on February 20th creates an unusual situation where more recent financial data will be available before the delayed 2023 annual report. This sequence deviation from normal reporting patterns could create challenges for investors in establishing reliable trend analysis and year-over-year comparisons. The ability to produce current quarterly results while still finalizing 2023 annual statements suggests the delay may be related to specific accounting treatments or audit matters rather than systemic operational issues.
For investors, three key considerations emerge: 1) The risk of non-compliance remains until the actual filing is completed, despite the extension. 2) The change in auditors could lead to different interpretations of accounting policies or identification of previously unrecognized issues. 3) The company's ability to maintain operational momentum and market confidence during this period of regulatory uncertainty will be important for near-term stock performance.
Luxembourg, Grand Duchy of Luxembourg, February 13, 2025 (GLOBE NEWSWIRE) – Codere Online Luxembourg, S.A. (Nasdaq: CDRO / CDROW) (the “Company” or “Codere Online”), a leading online gaming operator in Spain and Latin America, today announced that, by letter received on February 12, 2025, the Nasdaq Hearings Panel (the "Panel") of The Nasdaq Stock Market LLC ("Nasdaq") has determined to grant the Company's request to continue its listing on Nasdaq, subject to the Company filing its annual report on Form 20-F for the year ended December 31, 2023 (the “2023 Annual Report”) on or before May 12, 2025.
The Panel’s determination follows a hearing on January 16, 2025, at which the Panel considered the Company’s plan to regain compliance with Listing Rule 5250(c)(1) (the “Rule”). The Company has and continues to work diligently with its new auditor to complete and file with the Securities and Exchange Commission (“SEC”) its 2023 Annual Report and expects to do so within the extension period granted by the Panel, thereby regaining compliance with the Rule.
Following this positive development, the Company will release its fourth quarter 2024 results prior to 8:30AM US Eastern Time on Thursday, February 20, 2025. At 8:30AM US Eastern Time on the same day, Codere Online’s management will host a conference call to discuss the results and provide a business update.
The Company’s earnings press release and presentation will be available on Codere Online’s website at www.codereonline.com. Dial-in details for the conference call as well as the audio webcast registration link are accessible on the Events & Presentations section of the website. A recording of the webcast will be available following the conference call.
About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including the Company’s expectations about the timing of completion and filing of the 2023 Annual Report, statements related to the Company’s plan, timing and actions taken to regain compliance with the Rule.
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s or its management team’s views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the SEC. All subsequent written and oral forward-looking statements concerning Codere Online or other matters attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Contacts:
Investors and Media
Guillermo Lancha
Director, Investor Relations and Communications
Guillermo.Lancha@codereonline.com
(+34) 628.928.152
FAQ
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