Catalan police have launched an investigation into ‘possible irregularities’ concerning the tax treatment of Spanish gambling operator Codere by the nation’s Ministry of Finance and Tax Agency.
The probe centers on allegations that authorities under former Spanish Finance Minister Cristóbal Montoro may have unfairly leveraged tax regulations to hinder foreign gaming operators that were seeking licenses to enter the Spanish market. This alleged pressure campaign would have served to reduce the number of new competitors, thereby benefiting established domestic companies.
At the heart of the investigation is the consulting firm Equipo Económico, which has reportedly had Codere as a client since 2008, receiving payments totaling €679,000. According to the Central Anti-Corruption Unit, emails suggest that Equipo Económico was involved in this operation.
The unit explained that the National Fraud Investigation Office (ONIF), which reports to the Ministry of Finance and Tax Agency, was allegedly used to scrutinize and pressure new applicants. It was reported that Codere had a particular interest in the online gaming regulation that was being amended at the time under Law 13/2011.
Investigators are examining communications between Codere and the former minister’s Chief of Staff, alongside evidence of the ONIF conducting investigations into online gaming companies that were applying for Spanish licenses. One email reportedly contained a comprehensive list of all possible self-assessments, suggesting a coordinated effort.
The allegations raise serious questions about potential anti-competitive practices and whether a private company improperly influenced government and tax authorities to create a more favorable regulatory environment for itself at the expense of new market entrants.
Codere, which recently reported Q1 2025 net gaming revenue of €57 million, has not yet released a public statement in response to the investigation.
