Codere SA, a major Spanish gambling operator, has come under scrutiny as part of an ongoing investigation into the conduct of former Spanish Finance Minister Cristóbal Montoro. The probe, led by the anti-corruption unit of the Catalan police, Mossos d’Esquadra, has raised concerns over possible irregularities in the treatment of Codere by the Ministry of Finance and the Tax Agency during Montoro’s tenure.
Central part of the investigation is the role of Equipo Económico, a consulting firm founded by Montoro before his return to government under Prime Minister Mariano Rajoy in 2011. According to findings reported by Catalan authorities, Codere has been a client of Equipo Económico since 2008, reportedly paying the firm €679,000 ($790,577) between 2008 and 2012.
The Catalan police allege that Montoro’s ministry, in cooperation with the National Fraud Investigation Office (ONIF), implemented a system that effectively pressured foreign online gambling operators to reduce their presence in Spain.
This system, investigators claim, involved requiring operators to settle large retroactive tax payments, estimated between €150 million and €200 million, as a condition for securing an online gaming license.
Emails obtained during the investigation reportedly show communication between Codere and Montoro’s then-Chief of Staff concerning foreign online gambling licenses. The Ministry of Finance’s licensing model is believed to have created a barrier for international firms attempting to enter the Spanish market after the Gambling Law 13/2011 was enacted.
The law, introduced under a previous PSOE government, laid the foundation for regulating Spain’s online gambling sector, establishing licensing requirements and tax obligations.
Montoro, who has served as Finance Minister under two Partido Popular governments, has denied any wrongdoing. He dismissed the investigation as politically motivated and rejected claims that he acted inappropriately during his time in office.
The probe also highlights the presence of Rafael Catalá, a former Codere board secretary who later served as Minister of Justice in the Rajoy government. Investigators have pointed to Catalá’s dual roles in public office and within Codere as a possible link in the alleged preferential treatment of the company.