Codere, S.A., a leading multinational company operating in the private gaming sector, with more than 40 years of experience in the industry, has signed an extension of its sponsorship agreement with Real Madrid C.F. (“Real Madrid”) covering five seasons, until June 2026.
With this agreement, Codere reinforces its commitment to Latin America, by expanding the geographic scope to over twenty countries in the region including Mexico, Puerto Rico, the Dominican Republic and all of Central and South America.
The agreement covers both the core Codere Online1 markets of Argentina (City of Buenos Aires), Colombia, Mexico and Panama, and potential future expansion markets, when and if they become regulated, such as Argentina (outside of City of Buenos Aires), Brazil, Chile, Peru, Puerto Rico and Uruguay.
This alliance between Codere and Real Madrid, which started in 2016, is built upon the shared values of international leadership, fair play and excellence, and with the objective of providing our audiences with a high quality entertainment experience.
This announcement comes on the back of sponsorship deals with key football teams in the region, Rayados in Mexico and River Plate in Argentina, and represents a new step forward in the expansion of our online and sports betting business in Latin America.
Vicente Di Loreto, CEO of Codere, stated, “we are thrilled with this renewed alliance with Real Madrid, with whom we share the same values and ambition to be the best at what we do, and look forward to benefitting from the renowned Real Madrid brand.”
Four decades growing in Latin America
Codere began its activity in Latin America in the early eighties, first in Colombia, and then expanding across the region.
Today, Codere is the leading gaming hall operator in the Province of Buenos Aires (Argentina), Mexico and Uruguay, and a leading casino operator in Panama and Colombia. It also offers sports and horse race betting in Mexico, Panama, Colombia and Uruguay.
Through Codere Online, Codere also offers online casino and sports betting in Mexico, Colombia, Panama and the City of Buenos Aires (where it expects to start operating before the end of the year).
Digital growth through Codere Online
On June 22, 2021, Codere Online2, DD3 Acquisition Corp. II (Nasdaq: DDMX) and the other parties thereto, entered into a business combination agreement which, among other things, will make Codere Online the first online gaming operator in Latin America to be listed on a stock market in the United States. Codere Online, which will be majority owned and managed by Codere, intends to become the leading online gaming operator in Latin America.
For Moshe Edree, Managing Director3 of Codere Online, “the renewal of this strategic agreement with Real Madrid will play a key role in the deployment of our ambitious expansion project across Latin America. It will not only allow us to strengthen our online sports betting presence in the markets where we operate today, but also allow us to use the Real Madrid brand in other high-growth Latin American markets such as Brazil, Chile or Peru, when and if they become regulated.”