Codere SPAC Presentation Deck
Codere Online P&L
Accounting Revenue
Accounting Adjustments (¹)
Net Gaming Revenue
Operating Expenses
Gaming Taxes
Payment Processing
Content / Other Third Party Services
Marketing
Personnel / Other
Total Operating Expenses
EBITDA
Accounting Adjustments (²)
Accounting EBITDA
2019
$69
2
$71
(9)
(4)
(3)
(41)
(27)
($85)
($14)
(3)
($17)
2020
$80
4
$85
(11)
(5)
(6)
(43)
(25)
($90)
($6)
(9)
($15)
C
DD 3
Acquisition Corp. II
$ in millions
EUR converted to USD at exchange rate of 1.120 and 1.141 in 2019 and 2020 respectively.
(1) Figures primarily reflect differences in recognition of revenue related to certain partner and affiliate agreements in place in Colombia and our '.com' business, along with VAT impact from entry fees in Mexico.
(2) Figures primarily reflect costs related to a legacy affiliate program in Mexico, post-closing adjustments to financial accounts to reflect commercially agreed platform and technology services fees, and actual costs of doing business (i.e. invoicing between Codere Group
companies and Codere Online companies).
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