Catalan police allege irregularities in online gambling licensing process tied to lobbying and tax maneuvering
Allegations Surface Linking Codere to Influence Network
Spanish gambling giant Codere has found itself entangled in a high-profile corruption investigation surrounding former Spanish Finance Minister Cristóbal Montoro. According to Catalan police, the company may have benefited from preferential treatment during regulatory developments in Spain’s online gambling sector. The inquiry, led by the Central Anti-Corruption Unit of the Catalan police (Mossos d’Esquadra), centers on alleged irregularities in licence procedures, taxation, and influence exerted through a consultancy firm closely tied to Montoro.
The consultancy in question, Equipo Económico, reportedly played a pivotal role in shaping policy and strategy within the Ministry of Finance and the Spanish Tax Agency. Notably, Codere has been a client of Equipo Económico since 2008, having paid the firm over €679,000 for its services.
Weaponizing Tax Policy to Shape the Market
A key claim in the investigation is that Montoro’s Ministry, in coordination with the National Fraud Investigation Office (ONIF), manipulated the tax system to pressure foreign online gaming operators applying for Spanish licences. By leveraging tax obligations as a barrier to entry, authorities may have aimed to reduce competition in the emerging regulated market.
Email evidence cited by police shows communication between Codere and Montoro’s then-Chief of Staff, particularly regarding online gambling licensing – an area reshaped under Spain’s Law 13/2011, which introduced a legal framework for online betting. Internal documents from ONIF reportedly included lists of self-assessments for potential licensees, further suggesting an orchestrated effort to scrutinize or discourage foreign operators.
Equipo Económico’s Central Role in the Affair
Equipo Económico, a consultancy co-founded by Montoro before entering public office, appears to be at the center of the alleged conflict of interest. The firm not only advised the Ministry of Finance but also maintained business relationships with private clients – most notably Codere – who stood to benefit from policy changes and enforcement strategies.
Catalan authorities argue this represents a clear ethical breach, raising questions about how public office may have been leveraged to favor certain players in the gambling sector.
Silence from Codere Amid Financial Growth
Despite the serious allegations, Codere has yet to issue a public response. The silence comes even as the company continues to post positive results. In Q1 2025, Codere Online reported net gaming revenue of €57 million, marking an 8% year-on-year increase.
The firm has long positioned itself as a major stakeholder in Spain’s gambling market, both land-based and online, and is actively expanding its digital presence across Latin America.
Implications for Regulatory Integrity
If the allegations are substantiated, the case could cast a long shadow over Spain’s gambling regulatory regime and call into question the integrity of past licensing processes. It may also reignite political scrutiny over the revolving door between government and consultancy firms, especially in sectors prone to tight regulation and high financial stakes.
This case is ongoing, with Catalan investigators expected to expand their inquiries in coordination with national anti-fraud bodies. For Codere, the potential reputational damage could prove just as costly as any legal consequences, especially as it continues to court international investors and grow its digital footprint.
