Codere Online Luxembourg, S.A.

Codere Online operates an online sports wagering business, offering both traditional pre-match wagering and live betting. Its platform provides historical data, odds statistics, and news on teams and players. The company has integrated live streaming of sporting events into its online sports betting, available round-the-clock with advanced match visualization features. Codere Online's online sports betting offers thousands of live events annually across most major global sports, which helps to reduce the impact of seasonality, though certain local sports, like top-tier European football, still cause seasonal effects. Codere Online began recognizing revenue in 2025 from long-term inactive customer accounts, based on jurisdictional regulatory requirements and inactivity origin. Revenue from inactive account write-offs is expected to have limited future impact due to the one-time revenue recognized in 2025 upon policy implementation. Recurring income from this category, such as the 10% annual write-off process or immaterial maintenance fees, is non-material. Personnel expenses primarily include wages, salaries, and similar expenses, along with social security and other social contributions. Investments in property, plant, and equipment are not significant due to the online nature of the business.