Gaming operator with presence in Europe and Latin America Codere entered into a sponsorship agreement with the club from Mexico’s LigaMX, Monterrey Rayados Football Club, for the next 4 seasons.
Main Sponsor of the LigaMX Club
Under the terms of the sponsorship deal, Codere will become the main sponsor of the football club starting from July this year and its logo will appear on the team’s official kit and shirt.
“It is a pleasure for CFM to begin a relationship with an international brand like Codere, which will help us both to continue consolidating our growth and achieve our goals.”Pedro Esquivel, Executive VP, Monterrey Rayados A.C. Football Club
The gaming operator has been present in Mexico since 1998, when the country’s Ministry of the Interior granted it with sports betting and raffle licenses, and allowed the company to roll out terminals, betting points and gaming halls, including the operation at the Hipódromo de las Américas racecourse in Mexico City.
“The agreement with Rayados de Monterrey is an extremely exciting project. We believe that we have common brand values, which we want to exploit together.”Alberto Telias, Marketing Director, Codere
Since then, Codere’s operatations expanded to nearly 100 gambling halls, the family park Granja de las Americas and the convention center Citibanamex, besides the Hippodromo de las Americas and the Mexican market accounted for 22% of the group’s global revenues in 2019.
“We believe in long-term alliances with business partners who share our values and objectives, for which we thank Codere for their trust and we are sure that great things will come for the future.”Pedro Esquivel, Executive VP, Monterrey Rayados A.C. Football Club
Enhance Codere’s Visibility
The gaming operator believes the sponsorship deal with the football club from LigaMX will significantly enhance its visibility via joint marketing and other promotional actions, and will help the company advance its plans for further international expansion and brand consolidation.
“Partnering with such a successful and important team as Rayados, after a period of pandemic with great impact on the game, is confirmation of the strong proposal that Codere has for Mexican players.”Alberto Telias, Marketing Director, Codere
The Spanish-based operator of gaming machines, bingo halls, casinos, racetracks and sports betting locations across Spain, Italy and Latin America and the football club have similar values, Alberto Telias noted, emphasizing the importance Codere places on the sponsorship deal.
Codere was materially impacted by the coronavirus outbreak and the imposed lockdowns and restrictions in main jurisdictions such as Italy and Spain in Europe, as well as Mexico and Uruguay in Latin America.
According to the latest figures Codere released in November, for the third quarter of 2020, the company had €240 million in year-to-date net losses, and while revenue from its European operations was down 17% for Spain and 21% for Italy, in Latin America revenues sank 89.5%.