Codere Online Luxembourg, S.A. (NASDAQ: CDRO)

Codere Online Luxembourg S. A. is an international online casino gaming and online sports betting group focused on providing its customers with a safe and enjoyable online gaming experience. The company operates primarily in Spain Mexico Colombia Panama and Argentina where it offers its users the ability to play online casino games and bet on sports events. Codere Online leverages the Codere brand a well-recognized brand in the gaming industry across Spain and Latin America to provide an online gaming experience consistent with the Codere Group’s retail footprint. The company maintains a wide and updated catalogue of online casino games from multiple third-party content providers. Codere Online seeks to innovate and expand its product offering on its established and flexible technology platform as it pursues its vision to be a leading online casino gaming and online sports betting operator in Latin America.

Codere Online generates revenue by offering online casino games and online sports betting to its users. For online casino offerings the company functions similarly to land-based casinos generating revenue as users play against the house through a combination of licensed content from leading industry suppliers under standard revenue-sharing agreements. For online sports betting Codere Online sets odds such that there is a built-in theoretical margin in each proposition offered to its users taking risk on wagers where its book may not be balanced and generating aggregate win or loss based on event outcomes. The company’s product offering includes slots video bingo live casino table games sports live streaming and pre-match and live sports betting. Codere Online serves individual customers seeking online gaming entertainment in the jurisdictions where it operates.

Codere Online does not report operational segments based on business lines or functions; its organizational structure is presented by geographical subsidiaries only.

Codere Online positions itself as a leading online casino gaming and online sports betting operator in Latin America with market share estimates ranging between approximately 2% and 22% in the online gaming markets of Mexico Colombia Panama and Spain as of December 31 2024 in terms of net gaming revenue. The company competes with major international and regional operators such as 888 Bet365 Betcris Caliente Entain Flutter Rush Street Sportium and William Hill. Codere Online believes its competitive advantages include reliability brand recognition product offering ability to acquire and retain users regulatory compliance market access customer service and innovation supported by its relationship with the Codere Group its dedicated management team and its established technology platform.

Codere Online serves individual customers who engage in online casino gaming and online sports betting across its operated markets of Spain Mexico Colombia Panama and Argentina. The company does not disclose specific customer names in its filing but describes its user base as individuals accessing its platforms via mobile desktop and tablet devices to play slots video bingo table games and place sports bets. Codere Online emphasizes a safe and enjoyable gaming experience for its users through responsible gaming tools and customer service support.