The CEO of Codere Online outlines the company’s stance on fiscal reforms. These include reforms in Mexico, Colombia, and Argentina. He explains how the company will adapt its operations if new tax measures take effect.
Mexico has proposed a 50 per cent rate on GGR. Colombia is enforcing a 19 per cent VAT on deposits. Buenos Aires is debating additional levies. Across Latin America, governments are moving to increase taxation on the gaming sector. Codere now faces a shifting fiscal landscape. In an exclusive interview with Focus Gaming News, Codere Online CEO Aviv Sher speaks about the new measures. He explains how they could impact the company’s profitability. He also discusses their effect on the investment strategy and omnichannel model. He also calls on policymakers to adopt predictable and balanced tax frameworks. According to him, these are essential to protect consumers and maintain the sustainability of the regulated market.
As a policy matter, they support clear, predictable frameworks that sustain a healthy, regulated market and protect consumers. They will not speculate on specific outcomes while the process continues and they explore mitigation measures. However, the significant increase in the gaming tax rate will influence how they approach future investments in this market.
They are closely monitoring the situation. The 19 per cent tax on deposits, enacted in February 2025, might remain in effect through 2026. While they understand the fiscal objective, sudden and steep tax increases often strain the economics of the regulated market. Such increases also risk unintentionally benefiting unlicensed operators. If the tax extends into next year, they will adjust promotional tools, marketing mix, and operating costs to prevent losses.
Codere Online operates only in the City of Buenos Aires, not the Province, making this a relatively small market for them. Their main strategies focus on improving operational efficiency, optimizing marketing investments, and enhancing CRM capabilities. These steps help ensure customers continue choosing the regulated offer. If taxes increase, they plan to apply similar measures to those used in Mexico and Colombia.
