Spanish gambling operator Codere continues to bleed red ink in Latin America and its European retail operations are being hobbled just as they started showing signs of life.

Figures released Thursday show Codere generated revenue of €143m in the three months ending September 30, a 58.4% decline from the same period last year. The company reported negative earnings of €70.1m and a net loss of €62.1m, more than twice the €30.7m loss in Q3 2019.

As with Q2 2020, all of Codere’s regional land-based operations reported negative revenue growth in Q3, while the online unit was up nearly one-fifth year-on-year to €18.7m (two-thirds of which came via Spain). The Q3 online total was nearly €5m better than Q2, which suffered from the pandemic halt of major sports activity, although Q3’s online earnings were down 22.3% to €2.7m.

Total LatAm revenue was down 89.5% to €20.9m, as Argentina and Panama contributed precisely nothing during Q3, while Colombia slumped 94% to just €300k. Mexico, traditionally Codere’s second-biggest market after Argentina, fell 89% to €8.4m while Uruguay outshined the lot by slipping only one-third to €12.1m.