Telecommunications Leader Codere and Real Madrid Strengthen Alliance to Capture the Latin American Market
A major player in the Latin American telecommunications sector, Codere, has agreed to a five-year extension of its sponsorship agreement with Real Madrid. This strategic move underscores Codere’s dedication to establishing brand recognition throughout Latin America, leveraging the immense popularity of Real Madrid in the region.
Although Codere already has a presence in 20 countries, this collaboration enables them to intensify their focus on crucial Latin American markets such as Mexico, Colombia, and Argentina, where football enjoys a status akin to a religion. This alignment is highly strategic, particularly as Codere expands its digital footprint in these football-enthusiastic nations.
The partnership, initially formed in 2016, serves as a testament to the shared vision of both entities for global leadership. Vicente Di Loreto, Codere’s Chief Executive Officer, conveyed his enthusiasm, emphasizing their mutual objective of attaining industry prominence.
This renewal comes at a pivotal juncture for Codere. Despite navigating financial hurdles in the aftermath of the pandemic, they hold the distinction of being the first online gaming company originating from Latin America to be listed on the US stock market. Moshe Edree, Managing Director of Codere Online, underscored the importance of this partnership for their ambitious growth strategies in Latin America.
This collaborative effort is a guaranteed win, significantly bolstering our existing online sports wagering footprint while providing access to burgeoning South American markets such as Brazil, Chile, and Peru, leveraging Real Madrid’s influence when their regulatory landscape becomes more defined.”
admin