Codere Online CEO Aviv Sher told iGaming Business (iGB) in an interview dated October 20 that the company had "dodged a bullet" in Brazil. The country's licensed market has been closed since October 6, and Codere Online did not enter it because of its cautious expansion.
The trigger was a ban that other sources also report. On September 25, 2026, President Lula signed interim measure No. 1394, which prohibits online betting and online casinos. According to iGB, operators were immediately barred from accepting deposits, and players were given until October 5 to request withdrawals. From October 6, sites and apps are being blocked, and users are redirected to a government page, UPI reported, citing Agência Brasil.
Sher, judging by the interview preview, describes his strategy as entering new markets step by step rather than in a rush. At the same time, he still sees opportunities in Latin America. Which countries and timelines he has in mind is not visible from the accessible part of the material, as the full interview text is not available without access.
The statement contains no figures: neither the amount of investment saved nor the share of revenue Codere Online could have earned in Brazil. The assessment that caution made the difference came from the executive himself, and there is no independent confirmation.
For affiliates and media partners, the practical takeaway is that Brazilian traffic to licensed operators has been halted and advertising for the platforms in the country has been banned. Watch how the interim measure fares in Congress and the courts, since their decisions will determine whether the market returns.
