Codere Online: Mexico needs gambling reform for WC2026

Summary

Aviv Sher, CEO of Codere Online, urged Mexico to modernise its gambling regime ahead of the 2026 FIFA World Cup. Speaking at SBC Summit Lisbon, Sher highlighted that Mexico still operates under the Federal Law of Games and Lotteries of 1947, creating significant business risk for licensed operators. Recent government proposals to raise gambling taxes from 30% to 50% have intensified industry concerns. Codere Online — which now earns more than half of its net gaming revenue from Mexico — points to currency volatility, sudden fiscal moves and a large unregulated market (around 60%) as key threats to future growth and investor confidence.

Codere’s local strategy includes deeper community engagement via football sponsorships (Club de Fútbol Monterrey and the women’s team Rayadas) and international activations with Real Madrid to build trust and loyalty. The firm says a new federal gambling law and recognition of the sector as an economic contributor — not merely a revenue source — are vital to reduce the black market and provide the long-term certainty needed for sustainable expansion ahead of the World Cup.

Key Points

Aviv Sher (Codere Online) calls for urgent reform of Mexico’s outdated 1947 gambling law ahead of World Cup 2026.
President Claudia Sheinbaum's budget proposal would raise gambling taxes from 30% to 50%, prompting industry pushback.
Codere Online now generates over half of its net gaming revenue from Mexico; active monthly players rose from ~50,000 (2023) to ~85,000 (2025).
Q2 2025: Codere Online posted €55m NGR; local revenues grew 23% and active customers 36%, but a 19% peso depreciation hit euro results.
Main business risks: currency instability, unpredictable taxation, and a large unregulated market (~60%) that drains revenue and endangers consumers.
Codere seeks policy recognition of the sector as an economic contributor (jobs, tech, tourism) rather than punitive taxation.
Sponsorship of men’s and women’s football and Real Madrid partnerships are used to build brand trust and reach new audiences.
World Cup 2026 raises the stakes: failure to modernise could expose the market and undermine credibility with foreign investors.

Why should I read this?

If you care about where Mexico's iGaming market is heading (and who doesn't with the World Cup around the corner), this is a quick reality check. Codere, a major operator, spells out the risks licences, currency swings and a huge unregulated sector pose — and why politicians should think twice before slapping on a huge 'sin tax' that could scare off investment. Short version: reform matters, fast.

Context and Relevance

This article matters to operators, investors, regulators and sponsors. Mexico is a high-growth but high-risk market: substantial local revenue and rising player numbers make it attractive, yet policy uncertainty, an ageing legal framework and a sizeable informal market threaten stability. With Mexico co-hosting the 2026 FIFA World Cup, regulatory clarity and measures to shrink the black market are urgent to protect consumer integrity, maintain foreign investment and ensure the sector can capitalise on major sporting events.

Source

Source: https://igamingexpert.com/features/codere-online-mx-world-cup/