It ignores/suppresses error messages - see Error Control Operators in the PHP manual.
PHP supports one error control operator: the at sign (@). When prepended to an expression in PHP, any error messages that might be generated by that expression will be ignored.
If you have set a custom error handler function with set_error_handler() then it will still get called, but this custom error handler can (and should) call error_reporting() which will return 0 when the call that triggered the error was preceded by an @.
so any error in $myCode = @$_REQUEST["code"];
will be ignored.