October 15, 2021 3 min read


Codere Extended Latin America-Focused Deal with Real Madrid

An existing partnership deal between a Spanish-based gaming operator with a significant presence in Latin America and LaLiga soccer powerhouse has been extended to cover five more years.

Affirming Latin America Presence

Multinational gaming company Codere announced its Latin America-focused sponsorship agreement with Real Madrid CF has been extended throughout June 2026. Codere and the powerhouse from the Spanish top-flight soccer league initially teamed up back in 2016.

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.”

Vicente Di Loreto, CEO, Codere

The new deal covers markets in which Codere Online is already operational, including Argentina (City of Buenos Aires), Colombia, Mexico and Panama, as well as any other markets in the Latin American region that may regulate sports betting and gaming in the future. It also covers areas outside of the City of Buenos Aires in Argentina, Brazil, Chile, Peru, Puerto Rico and Uruguay.

“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,” said Codere Online Managing Director Moshe Edree.

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.”

Moshe Edree, Managing Director, Codere Online

The partnership extension will see Codere consolidate its market position in the region and expand its geographic scope to over 20 countries, including the Dominican Republic and all of Central and South America. The agreement is the latest step of the company’s strategy to establish a strong presence and become a leading online gaming operator in Latin America.

Soccer Partnerships Trace the Way

The deal extension with Real Madrid continued on the same trajectory set by sponsorship deals Codere signed with key soccer teams in Latin America, LigaMX Monterrey Rayados Football Club and Club Atlético River Plate of the Primera División in Argentina.

Codere and the team from LigaMX signed a 4-year deal in February to make the gambling firm the main sponsor of the soccer club starting from July this year. The deal with Monterey Rayados further strengthened Codere’s presence in Mexico, where the company has been operating since 1998.

By the end of July, Codere teamed with Club Atlético River Plate to become the Argentinian team’s official betting partner and have its logo feature on the team’s shirt sleeve. Codere and the soccer club signed a 4-year deal.

Codere’s expansion in Latin America was the main driver behind the growth at its online division, Codere Online, which posted a 43% rise in gaming revenue in Q3 2021.

The online gaming arm of the group signed a definitive agreement to merge with special purpose acquisition company (SPAC) DD3 Acquisition Corp II to use the SPAC as a vehicle to go live on the NASDAQ.

Lead Author

With 4 years experience as an analyst, Julie—or ‘Jewels’, as we aptly refer to her in the office—is nothing short of a marvel-worthy in her attention to the forex and cryptocurrency space as she quickly became the first pick to co-pilot education to the masses with Mike.

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