Codere extends Real Madrid regional partnership15th October 2021 11:00 am GMT
Madrid-listed gaming operator Codere has signed a multi-year extension to its regional sponsorship deal with Spanish La Liga side Real Madrid CF.
The agreement, which runs through to the 2025/26 season, will see Codere continue as the regional sports betting partner of Real Madrid's male and female football teams in Latin America.
The deal extends a partnership which began in 2016 and covers LatAm markets where Codere Online is operational or expected to go live in the near future, including Argentina (City of Buenos Aires), Colombia, Mexico and Panama. The agreement also covers other regulating markets such as Argentina (outside of the City of Buenos Aires), Brazil, Chile, Peru, Puerto Rico and Uruguay.
"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,” said Codere CEO Vicente Di Loreto.
Codere online managing director Moshe Edree commented: "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.”
Shares in Codere SA (MCE:CDR) were trading 1.03 per cent lower at €0.57 per share in Madrid Friday morning.