Codere extends long-term Real Madrid sponsorship in Latam
Spanish operator inks five-season renewal to take partnership through to 2026
Codere has put pen to paper on an extension to its Latam-facing sponsorship agreement with Spanish giants Real Madrid.
Codere will continue to serve as the exclusive sports betting partner for Los Blancos’ male and female teams throughout Latam as part of the contract.
The new five-season extension will see the pair’s relationship continue until at least 2026, having originally joined forces in 2016.
Codere will continue to leverage the Real Madrid brand as it looks to cement itself as the leading operator in the region.
The agreement bypasses newly implemented gambling advertising restrictions in Spain, with Codere only making use of its partnership with Real Madrid in Latam.
Vicente Di Loreto, Codere CEO, 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.”
Moshe Edree, Codere Online MD, added: “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.”
In June, Codere Online agreed a SPAC merger with US-based DD3 Acquisition Corp II in a deal which values the business at $350m and will see it become a publicly listed company in the US.
And last week, on 4 October, Codere posted a 43% year-on-year rise in Q2 net gaming revenue to €21m.