Codere to Sponsor Argentinian Soccer Team
Club Atlético River Plate is the latest Latin American soccer team to sign with the gaming operator Codere, in what is now a four-year sponsorship deal. As a part of the deal, Codere will also be the official betting partner of the Argentinian soccer team from Buenos Aires. The sponsorship deal will start in earnest this month and last until the club’s 2024/2025 season.
Why Argentina?
About the new deal with River Plate, Carlos Sabanza, who manages Codere’s sponsorship efforts, said, “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.”
Codere Online’s Chief Marketing Officer, Alberto Telias, added:
“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 teamwork values on and off the field, and that will enable Codere to expand its footprint in Argentina and Latin America.”
Long before this partnership, Codere has been active in Argentina as a gaming hall operator. It started in the 1990s, particularly in Buenos Aires, which is the betting hub of the country. It is now the largest such operator in the capital province, with 6,800+ slot machines across 13 gaming establishments.
Codere has clear plans to expand to online gaming and sports betting operations as soon as it is approved by Buenos Aires and other Argentine provinces.
Codere’s CEO Vicente Di Loreto spoke at a meeting last June, highlighting the importance of business collaborations within Argentina and Spain. He said, “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.”
A look at River Plate
The Buenos Aires-based soccer team seems equally enthusiastic about the sponsorship with Codere. Vice-Chairman of the club, Jorge Brito shared, “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.”
River Plate, which was founded in 1901 and named for the Río de la Plata in Buenos Aires, has enjoyed a rich history and success within Argentina as well as internationally. The team has one 48 titles won in the country’s top division, making it one of Argentina’s most successful men’s soccer clubs.
The deal comes at a good time, as the team is currently playing in the 2021 Argentine Primera División, the country’s premier professional soccer season. They tied 1-1 with another Buenos Aires team, Club Atlético Huracán, in a recent match on August 1, and will play again on August 4 against Boca Juniors.
Another promising sponsorship in LATAM for Codere
As with some previous partnerships, Codere’s logo will be displayed prominently on the team’s shirts. This time, it will be located on their shirt sleeves. Codere and River Plate announced the sponsorship on July 27, 2021, with a video campaign celebrating the club’s history.
Codere has also recently partnered with the Mexican club Monterrey Rayados in a deal that went into effect last month. Codere became Rayados’s principal sponsor and already started a major campaign push to expand its visibility among betting fans in Mexico.
Aside from sponsorships in Latin America, Codere has had an ongoing relationship with Real Madrid C.F. for five years. The company also supports premiere football events with communication campaign efforts, including UEFA EURO 2020 and the CONMEBOL America Cup.
Codere: Turning things around in 2021
Despite difficulties during the COVID-19 outbreak, Codere has managed to survive. The company, which operates in Spain, Italy and Latin America, was in serious jeopardy during the last year. It has since been restructured and is now operated by its creditors in an effort to turn things around.
The news has been positive so far. Codere even recently started trading on the US stock market.
