Codere Online Luxembourg, S.A.

Thank you for standing by and welcome to the Coderre Online third quarter 2023 financial results call. I would now like to welcome Guillermo Lancha, head of investor relations, to begin the call. Guillermo, please go ahead.

Thanks, operator, and welcome everyone to Coderre Online's earnings call for the third quarter of 2023. Today, you will hear from our CEO, Aviv Sher, and CFO, Oscar Iglesias. Our Executive Vice Chairman, Moshe Edre, will also join us in the Q&A section. Before turning the call over to Aviv, 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. Let me also remind you that our accounting information is prepared under IFRS accounting standards and that throughout this presentation, all monetary figures will be in euro unless expressed otherwise. 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 for our investor email alerts. With that, I will go ahead and pass the call on to Aviv.

Thanks, Guillermo, and thanks everyone for joining the call today. I'm thrilled to be sharing our third quarter 2023 earnings and dive into yet another record-setting quarter for our company. During this quarter, we continued to focus on enhancing both our sport and casino product offering and providing our customers the best experience, enabling us to once again surpass expectations. But we are not stopping here and remain fully focused on sustaining, if not improving, upon this momentum, especially now that we have a clear line of sight to becoming a profitable company next year. Jumping into the highlights of the third quarter of 2023, on page seven, we delivered 43 million in net gaming revenue, a 41% growth versus the prior year quarter, despite a lower than usual sector-wide sport betting margin toward the end of the quarter, which at least for us was partially offset by higher level of amounts wagered by our customers. In the quarter, we also continued to see further increase in the contribution from the casino segment, which accounted for 58% of our net gaming revenue this quarter. This growth was driven by both our recent effort to acquire more casino first players and continue to focus on managing our existing portfolio of casino customers, together with the usual seasonal slowdown in sport during the quarter. The growth in net gaming revenue was driven by a 19% increase in our active customers to nearly 124,000, together with a significant 19% increase in average monthly spend per customer to 116 euros. Mexico drove most of the increase in active customer with 38% more than in the third quarter of 2022. In terms of customer acquisitions, first-time deposits declined by 20% versus last year, with 69,000 in the quarter. This decrease was driven by substantial decline both in Colombia and in Argentina. But as we have discussed with you in the past, this is a result of our decision to prioritize investment in our core Spanish and Mexican markets. which combined contributed 11,000 FTDs more than in Q3 last year. But beyond the impressive top line growth, we continue to see very attractive return on investment across the markets. In terms of CPA, we had a blended 200 euro CPA per player. flat versus the prior year quarter and largely consistent with our average cost since 2022. But perhaps what is most relevant about this set of earnings is that everything that we have done and continue to do is coming together in a way that will allow us to continue delivering on the plan we set out almost two years ago. Also, this quarter, we are posting, for the first time since going public, break-even adjusted EBITDA, compared with the negative $13 million we had last year. And with these results, we take yet another meaningful step in our path to profitability. With this, I will now turn the call over to Oscar to gather the financial highlights of this quarter.