Codere Online Luxembourg, S.A.

to welcome everyone to the Codare online first quarter 2024 financial results investor conference call please note that this call is being recorded all lines have been placed on mute to prevent any background noise after the speaker's remarks there will be a question and answer session if you would like to ask a question please press star followed by the number one on your telephone keypad to withdraw your question please press star one again I will now turn today's call over to Guillermo Lancha, Head of Investor Relations. Please go ahead.

Thanks, operator, and welcome everyone to Codere Online's earnings call for the first quarter of 2024. 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 preliminary unaided financial metrics, such as net gaming revenue or adjusted BDA, for which you can find reconciliations in the appendix of the presentation. Please note that all growth rates discussed during this call are year-on-year comparisons, unless noted otherwise. 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 euros 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 Abib.

Thanks, Guillermo, and thanks to everyone for joining us today. I'm happy to share our first quarter 2024 earnings, which have again exceeded our expectations, and to discuss the trends we are seeing in what is shaping up to be another great year for our company. Our first quarter results are also a significant step towards achieving our 2024 profitability targets, which we will cover later. So jumping straight into the highlights of first quarter 2024 on page eight, we delivered 53 million euros in net gaming revenue, almost 14 million euros or 34% above Q1 2023. As we have discussed it in the past, The increasing contribution from our casino segment, which accounted for 56% of our net gaming revenue in this quarter, is a key driver behind our growth as we continue to optimize the mix of acquired customers toward this segment, in addition to crossing our sport betting customers over to the casino to maximize overall player yield. This growth in net gaming revenue was driven by a 16% increase in average monthly spend per customer to 123 euros, together with a similar increase in the number of average monthly active customers. In terms of customer acquisition, we have had 75,000 first-time depositors at an average CPA of €216, reflecting an increased focus on the casino first acquisition, which comes at a higher upfront cost, but also with significantly higher levels of players' spend. Moving on to the business developments, We are now very close to launching our operation in the province of Mendoza in Argentina, which we expect will happen soon. While we continue pursuing a license in the province of Buenos Aires, Mendoza is a fairly sizable province that we believe will benefit from and otherwise complement to our existing operation in the city of Buenos Aires. Finally, during March, we have renewed our front of the shared sponsorship with Rayadas in Mexico for the next four seasons, also increasing its scope to now include the women's teams, Rayadas. This has been one of the pillars behind our recent success in Mexico, and we expect it will continue to contribute to further success in the future. With this, I will now turn the call over to Oscar to cover the financial highlights of the quarter and our revised 2024 outlook. Oscar. Thanks, David.