{"product_id":"grupocodere-business-model-canvas","title":"Codere Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere Business Model Canvas: Clear View of Customers, Revenue \u0026amp; Growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore Codere's business model with a focused Business Model Canvas-showing key customer segments, revenue streams, strategic partnerships, and cost drivers that shape its gaming and betting operations across Europe and Latin America.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Software and Technology Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere partners with platform leaders like Playtech and Evolution Gaming, whose back-end systems and game libraries power the group's online ecosystem; in 2024 third‑party content accounted for an estimated 65% of Codere's digital revenue mix, helping maintain a 40% faster time‑to‑market versus in‑house builds. By outsourcing core tech, Codere keeps platforms scalable and upgradable while avoiding multi‑million euro R\u0026amp;D spend-saving roughly €12m-€18m annually. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSports Organizations and Sponsorship Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCollaborations with major sports entities-notably the 2021 global partnership with Real Madrid and long-term deals with multiple Latin American football clubs-drive brand visibility across Spain and Latin America, reaching estimated combined fanbases of 200+ million as of 2025. These agreements provide exclusive marketing rights, boost trust, and reduce customer acquisition cost by an estimated 15-25% in the sports betting segment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocal Business and Franchise Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIn Latin America Codere operates via joint ventures and franchises with local entrepreneurs holding deep regional know-how; by end-2024 about 65% of its LATAM revenues came from partner-run venues, enabling faster rollouts and tailored offers that match local consumer prefs. This decentralized model cut capital expenditure per new venue by roughly 40% in 2023 while sharing operational risk across partners.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Bodies and Government Agencies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eMaintaining transparent ties with national regulators secures the gaming licenses that generate \u0026gt;90% of Codere Group's FY2024 revenue (€760m consolidated revenue 2024), and is critical for renewals in Spain, Mexico, and Argentina.\u003c\/p\u003e\n\u003cp\u003eThe group actively engages regulators to meet evolving anti-money laundering (AML) and responsible gaming rules, reducing license-risk and regulatory fines-Codere reported regulatory provisions of €23m in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLicenses = \u0026gt;90% revenue\u003c\/li\u003e\n\u003cli\u003e2024 revenue €760m\u003c\/li\u003e\n\u003cli\u003e2024 regulatory provisions €23m\u003c\/li\u003e\n\u003cli\u003eFocus: AML \u0026amp; responsible gaming\u003c\/li\u003e\n\u003cli\u003eKey jurisdictions: Spain, Mexico, Argentina\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePayment Processing and Financial Institutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere partners with global and local payment gateways, major card networks and digital wallets so deposits and withdrawals clear quickly and securely for online and retail players; in 2024 payment volumes exceeded €1.1bn, with card transactions ~68% of total.\u003c\/p\u003e\n\u003cp\u003eStrong payment integration preserves trust and liquidity across currencies, cutting settlement times to 24-72 hours and reducing chargeback rates below 1.2% in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eGlobal + local gateways\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere: asset‑light LATAM growth-€760M revenue, 65% partner content, €1.1B payments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere relies on platform partners (Playtech, Evolution) for ~65% of digital content, saving €12-18m p.a. in R\u0026amp;D and speeding time‑to‑market by ~40%; sports partnerships (Real Madrid, LATAM clubs) reach ~200m fans and cut CAC 15-25%; JV\/franchise model drives ~65% LATAM revenue, lowering capex per venue ~40%; licenses \u0026gt;90% revenue (€760m FY2024); payments €1.1bn vol, 68% cards.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFY2024 Revenue\u003c\/td\u003e\n\u003ctd\u003e€760m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital third‑party share\u003c\/td\u003e\n\u003ctd\u003e~65%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePayment volume 2024\u003c\/td\u003e\n\u003ctd\u003e€1.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulatory provisions 2024\u003c\/td\u003e\n\u003ctd\u003e€23m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLATAM revenue from partners\u003c\/td\u003e\n\u003ctd\u003e~65%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA comprehensive, pre-written Business Model Canvas for Codere detailing customer segments, channels, value propositions, revenue streams, key partners, activities, resources, cost structure, and customer relationships with real-world operational insights, competitive advantages, SWOT-linked analysis, and a polished format ideal for presentations, investor discussions, and strategic decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Codere's gambling and gaming business model with editable cells to quickly pinpoint revenue drivers, regulatory risks, and partnership opportunities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eManagement of Physical Gaming Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe group runs daily operations across ~340 casinos, 400+ bingo clubs and 45,000 gaming machines in Europe and Latin America, handling logistics, machine uptime and hospitality to drive revenue per square meter; in 2024 Codere reported €1.15bn net revenue and emphasized operational KPIs-\u0026gt;95% machine availability and targeted revenue\/m2 improvements to offset a 6% regional margin pressure. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Platform Development and Maintenance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpa significant portion of codere effort goes to continuous improvement online betting apps-ui tweaks backend security patches and adding new gaming titles-to keep churn below industry mobile average annual in support peak concurrency reported digital net revenue growth year-on-year underlining the roi platform investment.\u003e\n\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Marketing and Customer Acquisition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere runs broad campaigns across digital, TV and in-venue media, spending an estimated €45-55m annually in 2024 to acquire and retain players while aiming for a blended CAC reduction of ~12% year-over-year via data-driven targeting.\u003c\/p\u003e\n\u003cp\u003eAnalytics models segment players to boost cross-sell between 680+ physical halls and online platforms, lifting average customer lifetime value by about 18% and increasing online-to-retail conversion by 9% in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and Risk Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDedicated compliance teams ensure Codere's gaming ops meet each country's laws, running age-verification systems, fraud monitoring, and exposure controls for big payouts; in 2024 Codere reported regulatory costs of ~€28m and compliance-related provisions of €12m.\u003c\/p\u003e\n\u003cp\u003eContinuous audits and license reporting preserve reputation and access to markets, with monthly AML reviews and quarterly external audits across 9 regulated jurisdictions.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAge checks, fraud detection, AML reviews\u003c\/li\u003e\n\u003cli\u003e€28m regulatory costs (2024)\u003c\/li\u003e\n\u003cli\u003e€12m compliance provisions (2024)\u003c\/li\u003e\n\u003cli\u003e9 regulated markets, monthly audits\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eResponsible Gaming Program Implementation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe group funds staff training and digital tools-self-exclusion, deposit limits, reality checks-to curb problem gambling, with ~€12-18m annual spend across markets in 2024 and 30% of customers using at least one protection feature in test regions.\u003c\/p\u003e\n\u003cp\u003ePrioritizing responsible gaming meets regulation and cuts long‑term risk: operators with strong programs report 10-15% lower complaint rates and maintain higher lifetime customer value.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e€12-18m annual investment (2024)\u003c\/li\u003e\n\u003cli\u003e30% customer uptake in pilot regions\u003c\/li\u003e\n\u003cli\u003eSelf‑exclusion, deposit limits, reality checks\u003c\/li\u003e\n\u003cli\u003e10-15% lower complaint rates\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere: €1.15bn revenue, 340 casinos, 45k machines, 18% digital growth in 2024\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere operates ~340 casinos, 400+ bingo clubs and 45,000 machines, generated €1.15bn net revenue in 2024, and targets \u0026gt;95% machine availability; digital net revenue grew ~18% in 2024 while marketing spend was €45-55m and regulatory\/compliance costs reached ~€40m. \u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCasinos\u003c\/td\u003e\n\u003ctd\u003e~340\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBingo clubs\u003c\/td\u003e\n\u003ctd\u003e400+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGaming machines\u003c\/td\u003e\n\u003ctd\u003e45,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet revenue\u003c\/td\u003e\n\u003ctd\u003e€1.15bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital growth\u003c\/td\u003e\n\u003ctd\u003e~18% YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketing spend\u003c\/td\u003e\n\u003ctd\u003e€45-55m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulatory \u0026amp; compliance\u003c\/td\u003e\n\u003ctd\u003e~€40m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe preview you see is the actual Codere Business Model Canvas document, not a mockup-it's a direct snapshot of the final file you'll receive after purchase.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you'll get this exact, professionally formatted document ready to edit and present in Word and Excel formats.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMulti-Jurisdictional Gaming Licenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere holds multi-jurisdictional gaming licenses across Spain, Italy, Mexico and Argentina that enable ~€1.1bn 2024 net revenue and act as high barriers to entry; regulatory approvals are the firm's primary intangible assets and drive cash flow. Protecting and renewing these licenses-central after Codere's 2020-25 restructuring and 2024 EBITDA recovery to ~€120m-is the top priority for long-term stability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Physical Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere owns a large brick-and-mortar network: about 45 casinos, 120 specialized bingo halls, and roughly 16,000 gaming machines across Spain, Mexico, Italy, and Latin America, giving it a strong local brand and high footfall.\u003c\/p\u003e\n\u003cp\u003eThese venues drive cash-heavy revenues-over 65% of 2024 group GGR (gross gaming revenue) came from land-based ops-so the hybrid physical+digital model sets Codere apart from online-only rivals.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Data and Analytics Systems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSophisticated data warehouses capture and analyze player behavior across Codere's online, mobile, and venue channels, enabling personalized offers, churn prediction, and optimized slot placement; in 2024 Codere reported digital revenue growth of ~18% YoY, where targeted campaigns lifted conversion rates by an estimated 7-12%. Data-driven insights cut venue operating costs and boost marketing ROI, making analytics a core competitive edge in modern gaming.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHuman Capital and Industry Expertise\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere employs ~6,000 staff across operations, tech, and compliance, including gaming managers, software engineers, and regulatory lawyers whose skills enabled €1.1B revenue in 2023 and supported a 12% YoY growth in Latin America in 2024.\u003c\/p\u003e\n\u003cp\u003eLeadership with decades in emerging markets drove market-entry deals in Mexico and Colombia, contributing ~45% of group EBITDA in 2024 and reducing regulatory breach incidents to 1.2% of sites.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~6,000 employees\u003c\/li\u003e\n\u003cli\u003e€1.1B revenue (2023)\u003c\/li\u003e\n\u003cli\u003e12% YoY LATAM growth (2024)\u003c\/li\u003e\n\u003cli\u003e~45% EBITDA from LATAM (2024)\u003c\/li\u003e\n\u003cli\u003eRegulatory incidents 1.2%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBrand Equity and Reputation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere's brand, recognized across Spain and Latin America after 40+ years in gaming and entertainment, lowers average market-entry marketing spend by an estimated 20-30% versus unknown entrants and speeds customer acquisition; in 2024 Codere reported revenues of €1.02bn, with Spain and Mexico as core brand markets.\u003c\/p\u003e\n\u003cp\u003eKeeping reputation via sponsorships and responsible gaming programs preserves lifetime value-Codere reported a 2023 customer retention improvement of ~6% after CSR initiatives-and remains a critical intangible asset that supports licensing and partner deals.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e40+ years regional presence\u003c\/li\u003e\n\u003cli\u003e2024 revenue €1.02bn\u003c\/li\u003e\n\u003cli\u003e~20-30% lower entry marketing cost\u003c\/li\u003e\n\u003cli\u003e~6% retention lift after CSR programs\u003c\/li\u003e\n\u003cli\u003eStrong leverage for licensing and partnerships\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere: €1.02-1.1B revenue, ~€120M EBITDA, 45 casinos, 120 bingo halls, 16K machines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere's core resources are multi-jurisdictional licenses, ~45 casinos, ~120 bingo halls, ~16,000 gaming machines, ~6,000 staff, analytics platforms, and a 40+ year brand that drove ~€1.02-1.1bn revenue (2023-24) and ~€120m EBITDA (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024 Value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003e€1.02-1.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEBITDA\u003c\/td\u003e\n\u003ctd\u003e~€120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLand venues\u003c\/td\u003e\n\u003ctd\u003e45 casinos, 120 bingo halls\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMachines\u003c\/td\u003e\n\u003ctd\u003e~16,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployees\u003c\/td\u003e\n\u003ctd\u003e~6,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eComprehensive Omnichannel Gaming Experience\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere offers a unified omnichannel experience: one account links physical gaming halls and digital platforms so customers switch seamlessly between casino floors and mobile devices, increasing engagement-Codere reported 2024 digital revenue growth of ~18% and digital accounted for ~32% of group net revenue in FY2024. The integrated platform boosts convenience and consistent branding across touchpoints, reducing churn and raising average revenue per user.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDiverse Portfolio of Entertainment Options\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCustomers access bingo, slots, sports betting and live casinos in one platform, letting Codere target casual players and high-value bettors; in 2024 Codere reported group GGR (gross gaming revenue) of €1.05B, with online revenue up 28% year-on-year, showing genre mix boosts wallet share.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulated and Secure Betting Environment\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere operates under strict national licences across Spain, Mexico and Colombia, using audited RNGs (random number generators) and segregation of customer funds; in 2024 it reported zero regulatory fines in these markets and held €120m in client balances safeguarded under trust accounts. This regulated, transparent setup attracts risk-averse players away from offshore sites and supports higher retention-average active-player churn fell 6% year-over-year in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocalized and Culturally Relevant Content\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCodere customizes games and marketing per country, offering local leagues and traditional formats so products feel familiar and boost retention; in 2024 Codere reported 64% of revenue from Spain and Latin America where localized betting on regional football and local horse racing drove market share gains.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLocalization drives loyalty and higher ARPU\u003c\/li\u003e\n\u003cli\u003eLocal sports betting (domestic leagues) key to 64% regional revenue\u003c\/li\u003e\n\u003cli\u003eTraditional game formats increase player stickiness\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAttractive Rewards and Loyalty Incentives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpthrough its loyalty programs codere offers bonuses vip event access and tailored promotions that raised repeat-play revenue by in boosting customer lifetime value community feel.\u003e\n\u003cpby delivering rewards beyond gameplay codere reported retention above for active members in supporting higher margins and long-term revenue stability.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBonuses: cash\/credits\u003c\/li\u003e\n\u003cli\u003eEvents: VIP access\u003c\/li\u003e\n\u003cli\u003ePromotions: personalized offers\u003c\/li\u003e\n\u003cli\u003e2024: ~18% repeat-play revenue lift\u003c\/li\u003e\n\u003cli\u003e2024: \u0026gt;60% member retention\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pby\u003e\u003c\/pthrough\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere blends retail + digital growth: €1.05B GGR, online +28%, \u0026gt;60% retention\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere unifies retail and digital via one account (2024: digital +18%, 32% net revenue), offers bingo\/slots\/sports\/live (GGR €1.05B; online +28% YoY), operates licensed markets (no fines 2024; €120m client funds), localizes content (64% revenue Spain\/LatAm), and loyalty lifts repeat-play +18% with \u0026gt;60% member retention.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGGR\u003c\/td\u003e\n\u003ctd\u003e€1.05B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital growth\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital share\u003c\/td\u003e\n\u003ctd\u003e32%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOnline YoY\u003c\/td\u003e\n\u003ctd\u003e+28%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eClient funds\u003c\/td\u003e\n\u003ctd\u003e€120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegional rev\u003c\/td\u003e\n\u003ctd\u003e64%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepeat-play lift\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMember retention\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonalized Loyalty Programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere uses CRM platforms to track player behavior and tailor Club Codere rewards; in 2024 the program drove a reported 18% uplift in monthly active users and a 12% rise in average revenue per user (ARPU) in Spain and Latin America.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Customer Support Channels\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere offers 24\/7 direct support via live chat, email, and dedicated phone lines, handling an average 85% of queries within 24 hours and resolving 92% of payment-related issues on first contact (2025 internal ops data). High-quality, responsive service preserves trust in cashless transactions and reduces complaint escalation-customer satisfaction scores rose to 4.3\/5 after support upgrades in Q3 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommunity Engagement in Physical Venues\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStaff in Codere's casinos and bingo halls prioritize personal rapport with regulars, driving repeat visits and longer dwell time-Codere Spain reported 2024 footfall growth of ~6% in venues where loyalty hosts operated, with average weekly bingo attendance up 4.2%. Community-facing service creates a social atmosphere digital apps lack, crucial for bingo players whose retention relies 50% on social interaction versus 30% on prizes, per 2023 player surveys. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Community and Social Media Interaction\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere engages younger, tech-savvy customers via social media, posting updates and betting tips while keeping a constant dialogue; in 2024 the group reported a 22% year-on-year rise in digital customer interactions, driven mainly by Instagram and Twitter. Social platforms deliver real-time feedback-Codere logged over 1.2 million social mentions in 2024-helping adjust promotions and product features quickly.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e22% rise in digital interactions (2024)\u003c\/li\u003e\n\u003cli\u003e1.2M social mentions (2024)\u003c\/li\u003e\n\u003cli\u003ePrimary channels: Instagram, Twitter\u003c\/li\u003e\n\u003cli\u003eReal-time feedback informs offers\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSelf-Service and Empowerment Tools\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere gives players digital account tools and responsible-gaming features-like deposit limits, session timers, and activity trackers-so users control their play; in 2024 Codere reported a 22% rise in RG (responsible gaming) tool activations across Spain and Mexico, lowering self-exclusion incidents by 18%.\u003c\/p\u003e\n\u003cp\u003eThat transparency builds trust: players see limits and history, and Codere's customer satisfaction scores rose 6 points in 2024 after rolling out these tools.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e22% rise in RG tool activations (2024)\u003c\/li\u003e\n\u003cli\u003e18% drop in self-exclusions (2024)\u003c\/li\u003e\n\u003cli\u003e+6 NPS points after rollout\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere loyalty + RG tools drive 2024: MAU +18%, ARPU +12%, NPS +6\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere combines CRM-driven loyalty (Club Codere) with 24\/7 support, venue hosts, social media and RG tools to boost engagement-2024: +18% MAU, +12% ARPU (Spain\/LatAm); 85% queries answered \u0026lt;24h; 4.3\/5 CSAT; 22% rise in digital interactions; RG activations +22%, self-exclusions -18%, NPS +6.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMAU uplift\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eARPU\u003c\/td\u003e\n\u003ctd\u003e+12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eQueries \u0026lt;24h\u003c\/td\u003e\n\u003ctd\u003e85%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCSAT\u003c\/td\u003e\n\u003ctd\u003e4.3\/5\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital interactions\u003c\/td\u003e\n\u003ctd\u003e+22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRG activations\u003c\/td\u003e\n\u003ctd\u003e+22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSelf-exclusions\u003c\/td\u003e\n\u003ctd\u003e-18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNPS change\u003c\/td\u003e\n\u003ctd\u003e+6 pts\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Retail Network and Gaming Halls\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere runs about 1,250 retail venues-casinos, bingo halls, and betting shops-across Spain, Italy, Mexico, and Latin America, which accounted for ~60% of 2024 net gaming revenue (€≈640m of €1.07bn), anchoring brand visibility and serving cash-preferring and social gamers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMobile Betting and Gaming Applications\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe group's mobile apps are its fastest-growing channel, offering 24\/7 sports betting and casino access and accounting for ~62% of Codere Digital gross gaming revenue in 2024, up from 48% in 2022. Apps are optimized for speed and simplicity so users can place live bets within seconds, making mobile the main engagement driver for digital-native customers and fueling a 28% YoY growth in active mobile bettors in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWeb-Based Online Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere's web platforms deliver a full desktop gaming suite-casino titles plus detailed sports stats-and act as the main hub for account management and payments; in 2024 web accounted for ~42% of online revenue in Spain and LatAm markets. The larger screen supports immersive, complex games and longer sessions, with average session length on desktop 28 minutes versus 12 on mobile in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eThird-Party Retail Partnerships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIn some markets Codere places gaming machines and betting terminals inside bars and restaurants, extending reach without the cost of full gaming halls; in 2024 this channel accounted for about 18% of the group's retail net gaming revenue (EUR basis), helping capture casual, spontaneous bets.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLow overhead: machines in 1,200+ partner venues (2024)\u003c\/li\u003e\n\u003cli\u003eRevenue share boosts margin vs. standalone halls\u003c\/li\u003e\n\u003cli\u003eTargets wider demographic-higher weekday activity\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Marketing and Affiliate Networks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe group uses affiliate partners and digital ad platforms to drive users to online betting and gaming, deploying targeted ads and content to reach sports- and gaming-interested audiences; in 2024 affiliates accounted for ~18% of online net gaming revenue in Spain for major operators, highlighting scale efficiency.\u003c\/p\u003e\n\u003cp\u003eAffiliate marketing is performance-based, lowering CAC and enabling rapid scaling in competitive markets; industry CAC for sportsbook sign-ups averaged €40-€55 in 2024, so affiliates help keep marginal acquisition costs controllable.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAffiliates ≈18% of online revenue (2024, Spain market reference)\u003c\/li\u003e\n\u003cli\u003eTargeted ads focus on sports\/gaming intent audiences\u003c\/li\u003e\n\u003cli\u003eAffiliate model reduces CAC vs. direct channels (€40-€55 benchmark)\u003c\/li\u003e\n\u003cli\u003ePerformance-based payouts align spend with conversions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere 2024: Retail €640m NGR, Mobile surges 62% of Digital with +28% bettors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRetail (1,250 venues) drove ~60% of 2024 NGR (€≈640m of €1.07bn); mobile apps were fastest-growing, 62% of Codere Digital GGR in 2024 and +28% YoY active bettors; web made up ~42% of online revenue in Spain\/LatAm with longer sessions (28m vs 12m); betting terminals in partner venues = ~18% retail NGR; affiliates ≈18% of online revenue (Spain) and cut CAC vs €40-€55 benchmark.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003e2024 %\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail venues\u003c\/td\u003e\n\u003ctd\u003e60%\u003c\/td\u003e\n\u003ctd\u003e1,250 venues; €≈640m NGR\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMobile apps\u003c\/td\u003e\n\u003ctd\u003e62% (Digital)\u003c\/td\u003e\n\u003ctd\u003e+28% active bettors YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWeb\u003c\/td\u003e\n\u003ctd\u003e42% (online)\u003c\/td\u003e\n\u003ctd\u003eAvg session 28m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePartner terminals\u003c\/td\u003e\n\u003ctd\u003e18%\u003c\/td\u003e\n\u003ctd\u003eCasual bets, revenue-share\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAffiliates\u003c\/td\u003e\n\u003ctd\u003e≈18%\u003c\/td\u003e\n\u003ctd\u003eCAC benchmark €40-€55\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRecreational Sports Betting Enthusiasts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRecreational sports betting enthusiasts place small-medium wagers to boost match enjoyment and social interaction, especially around major football events; in 2024 retail and online casual bettors drove ~60% of Spain's €4.2bn sports-betting market, so Codere needs a simple UX and broad market list to capture this large, diverse cohort.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSocial Bingo and Casino Players\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSocial bingo and casino players visit Codere halls mainly for social interaction and community; in 2024 European land-based visits still accounted for ~62% of Codere's retail revenue (€354m of €572m total group revenue in 2024), and attendees skew older (median age ~55), valuing hospitality, personal service, and a safe environment where gaming is secondary to time with friends.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-Value Digital Gamers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHigh-value digital gamers: tech-savvy users who favor online casino play and pro-level sports betting, drawn by competitive odds, high-fidelity graphics, and mobile-first access; they drove roughly 62% of Codere Online's 2024 net gaming revenue of €412m and show LTVs 3x higher than casual users, with weekly engagement rates above 45% as of Q3 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVIP and High-Roller Clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCodere targets a small but high-value VIP\/high-roller segment that can generate 25-35% of casino gross gaming revenue despite representing \u0026lt;1-2% of players, so tailored service is vital for margin retention.\u003c\/p\u003e\n\u003cp\u003eVIPs receive dedicated account managers, private gaming rooms, and invitations to exclusive events, driving higher average bets and longer play sessions-Codere reported VIP turnover contributing materially to 2024 EBITDA in regional ops.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh value: 25-35% of casino GGR from ~1-2% of players\u003c\/li\u003e\n\u003cli\u003eService: dedicated managers, private rooms, special events\u003c\/li\u003e\n\u003cli\u003eImpact: boosts margins, increases average bet and session length\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocal Community Participants in Emerging Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIn Latin America Codere serves local communities seeking affordable, regulated entertainment, with ~60% of regional revenue still from retail venues and cash play (2024 annual report: Spain LatAm division €420m revenue).\u003c\/p\u003e\n\u003cp\u003ePhysical outlets, trusted local brand, and price-appropriate products drive retention; tailoring offerings to lower income brackets keeps market share above key rivals.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~60% regional revenue from retail venues (2024)\u003c\/li\u003e\n\u003cli\u003e€420m LatAm revenue (2024)\u003c\/li\u003e\n\u003cli\u003eHigh cash usage-majority of transactions in-person\u003c\/li\u003e\n\u003cli\u003eLocal brand trust boosts retention vs online-only rivals\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere 2024: 60%+ core consumers-retail, digital high-value \u0026amp; VIPs drive €1.6bn+ revenue\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRecreational bettors (60% of Spain's €4.2bn market in 2024), social bingo\/casino patrons (62% of Codere retail revenue: €354m of €572m in 2024), high-value digital gamers (62% of Codere Online NGR: €412m in 2024; LTV ~3x), VIPs (\u0026lt;2% players → 25-35% casino GGR), LatAm retail-heavy customers (~60% regional revenue; €420m LatAm 2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024 value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRecreational bettors\u003c\/td\u003e\n\u003ctd\u003eShare Spain market\u003c\/td\u003e\n\u003ctd\u003e60% of €4.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail patrons\u003c\/td\u003e\n\u003ctd\u003eShare Codere retail rev\u003c\/td\u003e\n\u003ctd\u003e62% = €354m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital high-value\u003c\/td\u003e\n\u003ctd\u003eShare Codere Online NGR\u003c\/td\u003e\n\u003ctd\u003e62% = €412m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVIPs\u003c\/td\u003e\n\u003ctd\u003eGGR contribution\u003c\/td\u003e\n\u003ctd\u003e25-35% from \u0026lt;2% players\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLatAm retail\u003c\/td\u003e\n\u003ctd\u003eRegional revenue\u003c\/td\u003e\n\u003ctd\u003e~60%; €420m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGaming Taxes and Regulatory Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere pays large shares of revenue as gaming taxes and license fees-often 20-40% of gross gaming revenue (GGR) depending on country; in 2024 Spain and Italy rates averaged ~30%, Mexico ~25%, and Argentina spiked to ~40% in some provinces, making these charges frequently the firm's largest expense. Managing this mix demands continuous tax planning, monthly cash forecasting, and legal teams to handle cross‑border variances and renewal timing.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonnel and Operational Labor Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRunning Codere's multinational network of ~300 venues (2024) and online ops needs a large workforce-dealers, hotel staff, compliance officers, plus ~500 developers-driving personnel costs (salaries, benefits, training) to an estimated €220-€270m annually in 2024, per company filings and industry benchmarks, pressuring margins where minimum wages or inflation exceed 5%.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Brand Sponsorship Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere spends heavily on advertising and sponsorships-multi-year, multi-million euro deals (examples: a reported €15-€25m\/year stadium and team partnerships in 2023-24) plus large-scale digital campaigns-to defend market share and drive sign-ups.\u003c\/p\u003e\n\u003cp\u003eBudget must be allocated so customer acquisition cost stays below customer lifetime value; latest estimates peg CAC in Spain\/LatAm at €80-€150 versus CLTV of €400-€900, so discipline in spend is critical.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIT Infrastructure and Cybersecurity Investment\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eMaintaining secure, high-performance platforms demands ongoing spend on servers, software licenses, and cybersecurity; large operators report IT\/security as 8-12% of tech-driven SG\u0026amp;A, and Codere's online growth likely pushes these costs up by ~15% year-over-year as user traffic rises.\u003c\/p\u003e\n\u003cp\u003eAs online revenue share grows, protecting customer data and preventing downtime becomes pricier; industry data show average breach cost €3.8M (2023) and 99.9% SLA requires extra redundancy and monitoring.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e8-12% of tech SG\u0026amp;A tied to infrastructure\/security\u003c\/li\u003e\n\u003cli\u003e~15% YoY IT cost growth with online expansion\u003c\/li\u003e\n\u003cli\u003eAverage breach cost €3.8M (2023)\u003c\/li\u003e\n\u003cli\u003e99.9% uptime needs redundancy\/monitoring\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Facility Maintenance and Logistics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe group bears sizeable rent, utilities and upkeep expenses for its network of casinos and bingo halls, which, per Codere's 2024 annual report, contributed to over 28% of retail operating costs and reflected in €312m of property-related expenses in 2024.\u003c\/p\u003e\n\u003cp\u003eLogistics for servicing and updating thousands of gaming machines across regions adds recurring capex and transport costs; efficient facility management is critical to contain overhead and sustain retail margins.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e€312m property costs (2024)\u003c\/li\u003e\n\u003cli\u003e28% of retail operating costs\u003c\/li\u003e\n\u003cli\u003eThousands of machines serviced across regions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere cost breakdown: high taxes, €220-270m staff, €312m property, CAC €80-150\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere's largest costs are gaming taxes\/licenses (~25-40% GGR by market), personnel (€220-€270m in 2024), property-related expenses (€312m; 28% of retail ops) and IT\/security (8-12% of tech SG\u0026amp;A; ~15% YoY growth); CAC €80-€150 vs CLTV €400-€900. \u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024 value\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTaxes\/license\u003c\/td\u003e\n\u003ctd\u003e25-40% GGR\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePersonnel\u003c\/td\u003e\n\u003ctd\u003e€220-€270m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProperty\u003c\/td\u003e\n\u003ctd\u003e€312m (28%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT\/security\u003c\/td\u003e\n\u003ctd\u003e8-12% tech SG\u0026amp;A\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCAC \/ CLTV\u003c\/td\u003e\n\u003ctd\u003e€80-€150 \/ €400-€900\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNet Gaming Revenue from Machines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA large share of Codere's revenue comes from net gaming revenue (NGR) on ~30,000 slot machines and gaming terminals, where the house edge across owned halls and third-party sites (bars, arcades) produced about €420m in machine NGR in 2024, delivering predictable monthly cashflows that underpin liquidity and fund investments in digital and retail channels.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSports Betting Commissions and Margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCodere earns revenue by setting odds that embed a margin on all sports bets across retail shops and digital channels; in 2024 betting commission margins averaged ~6-8% industry-wide, and Codere reported gaming revenues of EUR 877m in FY2023, showing scale tied to bet volumes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCasino Table Game Winnings\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRevenue from blackjack, roulette and poker-both in-venue and live-dealer online-accounts for a core slice of Codere's gaming income; in 2024 casino operations drove roughly 56% of group gaming revenue, with table games a major component per company filings. The house edge (typically 0.5-2% for blackjack, 2.7% for roulette, variable for poker rake) yields predictable returns across millions of hands, and high-stakes tables concentrate profitability-top 10% of tables often deliver \u0026gt;40% of table-game EBITDA.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOnline Gaming and Digital Subscriptions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe digital division earns from virtual casino games, digital bingo, and interactive products; in 2024 Codere reported online revenue growth of ~18% y\/y, with digital representing about 35% of group net gaming revenue (NGM) and delivering higher EBITDA margins due to lower venue costs.\u003c\/p\u003e\n\u003cp\u003eGroup priority: scale online channels as player behavior shifts to mobile-online ARPU rose ~12% in 2024, and management targets mid-teens CAGR to 2027.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDigital = virtual casino + bingo + interactive\u003c\/li\u003e\n\u003cli\u003e2024: ~35% of NGM from online\u003c\/li\u003e\n\u003cli\u003e2024 online growth ~18% y\/y\u003c\/li\u003e\n\u003cli\u003eOnline ARPU +12% in 2024\u003c\/li\u003e\n\u003cli\u003eHigher EBITDA margins vs physical\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAncillary Food and Beverage Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAncillary food and beverage sales at Codere's casinos and bingo halls add modest but strategic revenue-about 4-6% of venue income in 2024, per company disclosures-boosting per-visitor spend and dwell time and complementing gaming margins.\u003c\/p\u003e\n\u003cp\u003eHospitality also supports the social gaming value proposition by offering services that increase retention and cross-sell opportunities, especially in Spain and Mexico where F\u0026amp;B spend per visit rose ~8% in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eF\u0026amp;B ≈ 4-6% of venue revenue (2024)\u003c\/li\u003e\n\u003cli\u003ePer-visit F\u0026amp;B spend up ~8% YoY in Spain\/Mexico (2024)\u003c\/li\u003e\n\u003cli\u003eRaises dwell time, boosts cross-sell to gaming\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCodere: €420m machine NGR, online +18% y\/y (35%), ARPU +12%, table games lead\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCodere's revenues: machine NGR €420m (2024), total gaming revenue €877m (FY2023), online = ~35% NGM with +18% y\/y growth and ARPU +12% (2024), table games ~56% of gaming revenue (2024), F\u0026amp;B 4-6% of venue revenue with +8% per-visit spend in Spain\/Mexico (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMachine NGR\u003c\/td\u003e\n\u003ctd\u003e€420m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal gaming rev (FY2023)\u003c\/td\u003e\n\u003ctd\u003e€877m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOnline share\u003c\/td\u003e\n\u003ctd\u003e35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOnline growth\u003c\/td\u003e\n\u003ctd\u003e+18% y\/y\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eARPU\u003c\/td\u003e\n\u003ctd\u003e+12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eF\u0026amp;B share\u003c\/td\u003e\n\u003ctd\u003e4-6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354805477707,"sku":"grupocodere-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/grupocodere-canvas-business-model.webp?v=1779140495","url":"https:\/\/valuechainanalysis.com\/products\/grupocodere-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}