Codere Online CEO Aviv Sher said the company is watching prediction markets but has not announced plans to enter the segment. He made the remarks in an interview on November 2, 2026.
In May, Sher first said prediction markets could be a good addition to the lineup. Now he links them to Mexico: he says the segment would help the company reach audiences in the southern US and Spanish-speaking players. A decision could come next year.
The company reported second-quarter results. Total revenue came to €64.4 million, and net gaming revenue (NGR) reached €69.4 million, up 27% from the second quarter of 2025. Adjusted EBITDA hit €5.8 million, €3.5 million more than a year earlier. The company raised its 2026 guidance: NGR is expected in the range of €255–265 million, and adjusted EBITDA between €20–25 million.
Mexico and Spain generate most of the revenue. In the second quarter, Spain brought in €27.6 million and Mexico €36.1 million, together €63.7 million out of €69.4 million.
Sher's main complaint about regulation concerns taxes in Mexico. Starting January 1, 2026, Mexico doubled the IEPS gambling tax, raising it from 30% to 50% of GGR. The tax applies to both online gaming and foreign operators that serve customers in the country.
In Spain, restrictions are tightening through an overall deposit limit. Default limits are €700 per day, €1,750 per week and €3,300 per four weeks, and mandatory enforcement begins March 26, 2027. The regulator estimates that people using more than one operator make up roughly a third of the active online gambling audience in the country. Sher believes such measures hit licensed operators, and players move to unlicensed brands.
For operators with Mexican and Spanish traffic, two things follow. The tax burden in Mexico is already twice the previous level and applies whether an operator works online or through land-based venues. In Spain, the overall limit will be counted across all licensed operators at once, so a player cannot shift deposits between brands of the same operator.
Codere Online has not launched prediction products yet. Sher says a decision could come next year.
