Bragg Gaming Group vs Codere Online Luxembourg
Codere Online Luxembourg is the larger business, with $238m of revenue in fiscal 2025 against $120m for Bragg Gaming Group (2.0 times as much). Codere Online Luxembourg grew faster (9.5% against 8.7%). Codere Online Luxembourg kept more of each dollar of sales as profit: a net margin of 0.6% against -7.7%. Codere Online Luxembourg carries less debt relative to equity (0.0% against 5.6%).
| Latest fiscal year | Bragg Gaming GroupBRAG, 2025 | Codere Online LuxembourgCDRO, 2025 |
|---|---|---|
| Revenue | $120m | $238m |
| Revenue growth | 8.7% | 9.5% |
| Net income | −$9.2m | $1.5m |
| Operating margin | -5.0% | 2.7% |
| Net margin | -7.7% | 0.6% |
| Return on equity | -12.3% | 5.0% |
| Free cash flow | $19.9m | — |
| Cash | $7.8m | $58.7m |
| Total debt | $4.1m | $0 |
| Debt to equity | 5.6% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $22.8m | $392m |
| Price vs our value range | Below our value range | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 7 sales |