Codere teamed up with the Spanish giants in 2016. However, the renewed terms and agreement will see the company reinforce its commitment to Latin America by expanding the geographic scope to over twenty countries, this includes Mexico, Puerto Rico, the Dominican Republic and all of Central and South America.
The deal will cover both the core Codere Online markets of Argentina (Buenos Aries), Colombia, Mexico, and Panama. While also hoping to expand in the markets when they are regulated, such as Argentina (outside of Buenos Aries), Brazil, Chile, Peru, Puerto Rico, and Uruguay.
Thrilled by the extension to the sponsorship deal with the Los Blancos, Vicente Di Loreto, CEO of Codere said: “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.”
In June, earlier this year, Codere Online, DD3 Acquisition Corp II, and thereto, entered into a business combination agreement to make Codere Online the first online gaming operator in Latin America to be listed on the stock market in the US. The firm has cemented sponsorship deals with football teams in Latin America over the past year. Rayados in Mexico and River Plate in Argentina are in partnership with the firm as they aim to be the leading online gaming operator in the region.
The Managing Director of Codere Online termed this partnership with Real Madrid as strategic, he said: “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 to 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.”