Codere strengthens LatAm visibility with River Plate partnership

Codere has strengthened its sports marketing activities in the Latin American market following an agreement with prominent Argentinian football team Club Atlético River Plate.

The four-year deal will see the sports betting operator become the official betting partner of the Primera División team, whilst also gaining visibility via shirt sleeve branding for the initial stages of the deal.

Expansion of its Argentinian and wider Latin American operations has been a key objective of the Spanish company since the Codere Online asset made its debut on the US Nasdaq Stock Exchange.

The public listing of Codere Online was completed following a merger with SPAC DD3 Acquisition Corp. II, with dealmakers targeting a valuation of $350 million (€290m) for the online wagering unit.

Carlos Sabanza, Codere’s Sponsorship Manager, commented on the new partnership with River Plate: “This agreement allows us to reach the Argentine and Latin American public in the best and most direct way possible, providing our current and future customers the best brand experience.

“This alliance – with one of the most important football teams in the country – allows us to enhance our positioning as a leading online sports betting and omnichannel entertainment provider in this key market.”

The collaboration with the Argentinian team builds on Codere’s additional Latin American sponsorships, including a regional partnership with Real Madrid signed in 2016 as well as a deal with Mexico’s Moneterrey Rayodos.

The company also promotes the main sports events with specific campaigns, such as those recently developed for the 2020 UEFA European Championships and the CONMEBOL America Cup.

Jorge Brito, first Vice-Chairman of River Plate Club, remarked: “It is a pleasure to have Codere as a sponsor, a company with a wide experience, global reach and with great growth in the region, which will help us both to continue consolidating our growth, share the same commitment, effort and fair play values.”

Check Also

Codere bondholders call for Argentine break-up 

The break-up of Grupo Codere SA has begun, as debt-holders of the former Bolsa Madrid …

Year in Review Part Three – Firms look to Nasdaq whilst William Hill auction comes to a close

The third quarter of 2021 saw further regulatory developments across Europe, and one of the …

CNMV suspends Codere listing as shareholders press for break-up  

Spain’s National Securities Exchange Commission (CNMV) has been forced to suspend the listing of Grupo …