Investor Presentaiton
Market Overview - Global Footprint with Largest Market Presence
Throughout Latin America
C
www
DD3
Acquisition Corp. II
Core Markets
(Regulated)
Expansion Markets
(Regulation
Pending)
Denotes Codere
Top 3 Market
Codere Retail
Market Share
Codere Online
Market Share
Codere Online
2027E Market Share
Share Position
(1)
PANAMA
19%
2
3%
"
Online Launch: 2018
2
45%
■ Retail Footprint: 11 gaming halls (incl. 8 sportsbooks)
and 1 racetrack
■ Potential Online TAM (excl. offshore): ~$40mm(2)
COLOMBIA
(3)
6% 2
6%
30%
■ Online Launch: 2019
"
Retail Footprint: 9 gaming halls, 136 arcades,
and 70 sportsbooks
■ Potential Online TAM (excl. offshore): $150mm(4)
CITY OF BUENOS AIRES 33%
PERU
"
Online Launch: 2021
"
Online Launch: TBD
"
Retail Footprint: None
"
Retail Footprint: None
■ Potential Online TAM (excl. offshore):
~$90mm(2)
"
Potential Online TAM
(excl. offshore): ~$120mm(2)
CHILE
■ Online Launch: TBD
■ Retail Footprint: None
■ Potential Online TAM
(excl. offshore): ~$240mm(2)
MEXICO
(5)
25%
2
11%
23%
■ Online Launch: 2016 (full commercial launch in
2019)
■ Retail Footprint: 96 gaming halls (incl. 93
sportsbooks), 1 racetrack, and the largest
convention center in Mexico (Centro Citibanamex)
Potential Online TAM (excl. offshore): $630mm(2)
"
PUERTO RICO
Online Launch: TBD
■Retail Footprint: None
■ Potential Online TAM (excl. offshore): ~$70mm(2)
BRAZIL
■ Online Launch: TBD
■ Retail Footprint: Entered market in 2006, currently have
exclusive agreement with Jockey Club do Rio Grande do Sul
■ Potential Online TAM (excl. offshore): ~$1.3bn(2)
URUGUAY
Online Launch: TBD
(6)
52%
1
"
Retail Footprint: 6 gaming halls, 29 sportsbooks, 2
racetracks, and a hotel (Carrasco Nobile)
■ Potential Online TAM (excl. offshore): ~$40mm(2)
(7)
42%
ARGENTINA (OTHER)
Online Launch: TBD
■ Retail Footprint: 13 gaming halls (Buenos Aires
Province)
■ Potential Online TAM (excl. offshore): ~$260mm(2)(8)
SPAIN
(9)
26% 2
6%
10%
"
■ Online Launch: 2014 (mobile app launch in 2016)
Retail Footprint: Codere owned gaming halls (3
gaming halls, 47 arcades, 61 sportsbooks); 3rd party
sports betting distribution (1,026 arcades, 1,411
bars); slot route operations (6,118 bars)
■ Potential Online TAM (excl. offshore): $1.3bn(4)
ITALY
(10)
5% 3
~1%
■ Online Launch: 2021
■ Retail Footprint: 11 gaming halls and 2,198 bars
Potential Online TAM (excl. offshore): $3.6bn (4)
"
Note: Market share per Company estimates. Retail footprint figures refer to Codere Group as of 12/31/19.
Based on 2019 gross win (per Panama's Gaming Control Board (JCJ)).
(1)
(2)
Reflects 2027 estimates. TAM projected based on UK/Australia/NJ/Spain/Italy GGR per capita, adj. for GDP per capita / internet connectivity (Mexico further adjusted
based on 2019A gambling expenditures as a % of total GDP for illustrative and conservative purposes). Includes onshore online sports betting, casino, poker, and bingo.
(3) Based on gross win (LTM September 2019, per Coljuegos). Excludes unregulated revenue.
(4) Reflects 2027 estimates, based on 2025 H2GC projections. Spain/Italy assumes 2026/2027 growth based on estimated inflation. Colombia 2026/2027 growth held
constant to 2025 % growth. Includes onshore online sports betting, casino, poker, and bingo.
(5)
(6)
(7)
Based on number of gaming halls (as of 12/31/19, per Codere estimates).
Reflects 2019 share of slot gross win in Montevideo (regulated market).
Figure reflects Buenos Aires Province (gaming halls) only.
(8)
Figures reflect total for Argentina, excluding City of Buenos Aires.
(9)
Based on 2019 gross win from sports betting via 7,189 self-service terminals (SSTS) in Codere-controlled venues/third party arcades.
5% market share based on Codere's 8,646 slot machines in bars (slot routes).
(10) Reflects Q4 2019 gaming hall market share (per MAG Consulting estimates).
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