v3.26.1
BACKGROUND
12 Months Ended
Dec. 31, 2025
Background  
BACKGROUND

 

1. BACKGROUND

 

On June 4, 2021, Codere Online Luxembourg, S.A. (the “Company” and, together with its subsidiaries, “Codere Online”), was incorporated and was registered in Luxembourg as a public limited company (société anonyme) under the laws of Luxembourg with its registered office at 7, rue Robert Stumper, L-2557 Luxembourg, Grand Duchy of Luxembourg and has been registered with the Luxembourg trade and companies register (Registre de commerce et des sociétés, Luxembourg) under the number B255798.

 

Codere Online is comprised of the former online gambling operations of its majority shareholder Codere Group Topco, S.A. and its subsidiaries (“Codere Group”) in Spain, Mexico, Colombia, Panama, and Argentina focused on online gambling and other online services. Codere Group controls Codere Online through its operating Spanish Holdco, Codere Newco, S.A.U. (“CNEW”), which holds 66.3% of the ordinary shares of the Company.

 

Codere Group is a leading international gaming operator that operates slot machines, bingo seats and sports betting terminals in Latin America (Argentina, Colombia, Mexico, Panama and Uruguay), Spain and Italy, across various gaming venues, including gaming halls, arcades, bars, sports betting shops and horse racetracks.

 

The perimeter, as of December 31, 2025, consists of 9 operating and supporting entities (Spain, United States, Mexico, Colombia, Panama, Israel and Argentina) and 2 holding companies (Spain and Luxembourg).

 

             
Entity   Entity Type   Ownership   Location  
Codere Online Luxembourg S.A.   Holding Company   100%   Luxembourg  
Codere Online U.S. Corp.   Supporting Entity   100%   United States  
Servicios de Juego Online S.A.U. (SEJO)   Holding Company   100%   Spain  
Codere Online S.A.U.   Operating Entity   100%   Spain  
Codere Online Colombia S.A.S.   Operating Entity   100%   Colombia  
Operating Management Services Panama S.A.   Operating Entity   100%   Panama  
LIFO AenP.   Operating Entity   99.99%   Mexico  
Codere Online Mexico S.A de C.V.   Supporting Entity   100%   Mexico  
Codere Online Argentina, S.A.   Operating Entity   95%   Argentina  
Codere Online Argentina, S.A. Unión Transitoria.   Operating Entity   92.2%*   Argentina  
Codere Israel Marketing Support Services LTD.   Supporting Entity   100%   Israel  

 

 
* 1% directly through SEJO and 96% indirectly through Codere Online’s 95% ownership of Codere Online Argentina, S.A.

 

The ordinary shares and warrants of the Company have been listed on the Nasdaq since December 1, 2021.