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Codere Online Luxembourg, S.A.
Codere Online runs online casinos and sports betting sites for customers in Spain, Mexico, Colombia, and other markets.
Codere Online is an online gambling company. It runs websites and apps where people place bets on sports and play casino games like slots and roulette, all from their phone or laptop. It serves customers mainly in Spain, Mexico, and Colombia, plus a few other markets, and it focuses on countries where people speak Spanish or Portuguese.
The company makes money by taking a cut of every bet and casino wager placed on its platforms. That slice is called the "house edge" or "rake" — the platform keeps a small piece of the money that flows through it, and over millions of bets that adds up. Customers choose it partly because it is a recognized brand with local roots in the Spanish-speaking world, and partly because it offers live betting, promotions, and a smooth mobile experience. It competes against much larger international operators and local rivals in each country. Codere Online began as the online arm of the Codere group, a long-established Spanish gambling business with betting shops and casinos across Europe and Latin America. The online business split off and listed on Nasdaq in late 2021 through a merger with a special-purpose acquisition company. That gave it public currency and a spotlight, but it also meant it had to prove it could grow profitably on its own rather than lean on its parent.
The business is a growth story with real risk attached. Online gambling is a regulated industry, so each country sets its own rules on advertising, licensing, and what games are allowed — and those rules can change fast. The company has been pushing toward profitability after years of spending to grab market share, and its results swing with how much it spends on marketing and how tightly regulators squeeze the sector. It is a straightforward bet on online betting growing in Latin America and Spain, with all the regulatory and competitive bumps that come with that.
Saved answer · last researched 15 Nov 2026