The term of the agreement will be for the next four years, until the 2024/2025 season.
Codere will become the Official Betting Partner of the club from August 2021, being visible on the sleeve of the team's shirt, in the initial stage.
With this alliance, the company strengthens the international expansion of its online sports betting business through its website Codere.com.ar.
Codere and Club Atletico River Plate share common values of responsible gaming, a strive for leadership, an international vocation and a commitment to excellence.
MADRID, Spain and BUENOS AIRES, Argentina, July 27, 2021 (GLOBE NEWSWIRE) -- Codere, a leading Spanish multinational company in the private gaming sector across Europe and Latin America, has signed a sponsorship agreement with the Club Atletico River Plate of Argentina for the next four seasons, until August 2025, becoming the Official Betting Partner of the club.
For Carlos Sabanza, Codere's Sponsorship Manager, "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."
2021, Gaining Momentum After the Pandemic
On June 22 [nd] , Grupo Codere reached a merger agreement of its online gaming subsidiary -- formed by the parent company Codere Online Luxembourg, S.A. ("Holdco"), Servicios de Juego Online, S.A.U. ("SEJO") and its consolidated subsidiaries -- with the SPAC DD3 Acquisition Corp. II , that would result in Codere Online becoming the first publicly-listed online gaming operator traded on the US Nasdaq Stock Exchange.
The new company, managed and majority owned by Grupo Codere, will drive the expansion of the digital business in Argentina and other Latin American growing markets.
This objective, strengthened by the sponsorship, will enable Codere to continue promoting its activity in Argentina through the consolidation of its brand by different marketing and promotional actions planned together with the club.
Alberto Telias, Chief Marketing Officer of Codere Online, points out, "This agreement represents a very important turning point for the development of our activity in the country, after a difficult period of protracted closings due to the pandemic. The company is thrilled about this project together with River, with whom we share the fair play and team work values on and off the field, and that will enable Codere to expand its footprint in Argentina and Latin America."
Jorge Brito, first Vice-Chairmanof River Plate Club said, "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."
Codere in Argentina, a Long-term Bet
Codere began its activity in Argentina in the early 1990s and is currently the largest gaming hall operator in the Province of Buenos Aires, with 13 gaming halls, in which it operates more than 6,800 casino-slots, in addition to traditional bingo and associated catering services. The group expects to start its online operations in the country as soon as the City of Buenos Aires and/or any of its other provinces authorize it.
The company is committed to Latin America by developing its entertainment offering in Argentina, Uruguay, Mexico, Colombia and Panama, as reflected by its sponsorships of the main football teams (in Argentina, the Atletico River Plate Club and in Mexico, the Monterrey Rayados Football Club), in addition to the already existing one with Real Madrid C.F. since 2016. The company also promotes the main sports events with specific campaigns, such as those recently developed for the UEFA EURO 2020 and the CONMEBOL America Cup.
Codere's Club Atletico River Plate sponsorship campaign will be launched this Tuesday, July 27 [th] . You can access it through the following LINK .
Last June, Vicente Di Loreto, CEO of Codere, participated in a meeting between the authorities of Argentina and Spain, together with a group of businessmen from both countries, which highlighted the will to promote investments and continue collaborating in joint business development.
In his words, "The company will continue to focus its efforts and investment in the development of its entertainment offer in this strategic market for Codere, which has great potential with the recent regulation of the online activity and where we have a relevant position."
Codere is an international gaming operator, with presence in seven countries in Europe -Spain and Italy- and Latin America -Argentina, Mexico, Panama, Colombia and Uruguay-, which operates slot machines, bingo seats and sports betting terminals with an omnichannel offer, both Press release 3 through the online channel and the retail, that include gambling halls, arcades, 9,200 bars and racetracks.
About Codere Online
Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia and Panama and expects to start operating in the City of Buenos Aires (Argentina) in late 2021. Codere Online's online business is complemented by Codere Group's physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.
About Club Atletico River Plate
River Plate is the most popular Football Club in Argentina, with more than 18 million fans in the country and thousands around the world. It has 36 national titles and 12 international cups. It also participates in more than 20 federated sports, has a first-class sports complex, an educational Institute for 1,500 students and a University Institute inaugurated in 2013.
About DD3 Acquisition Corp. II
DD3 was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. DD3's efforts to identify a prospective target business are not limited to a particular industry or geographic region.
Codere with responsible gaming
Codere is firmly committed to the development of a gaming offer with all the guarantees for the user. With this aim, the group carries out its activity by implementing the best responsible gaming practices, promoting transparency and supporting public policies for the user guarantees, the protection of vulnerable groups and the sustainability of the industry. In 2020, Codere Argentina was recognized with the SAGSE Award for the Best CSR Strategy in Latin America for its Responsible Gaming Program.
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