Real Madrid FC has extended its partnership with Codere for a period of five seasons, maintaining the Spanish gambling group’s longest-serving sponsorship.
The gaming group will serve as Real Madrid’s regional betting partner for Latin America, covering 20 countries in the region including Mexico, Puerto Rico, the Dominican Republic and all of Central and South America.
Codere Group’s CEO, Vicente Di Loreto, stated: “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 benefiting from the renowned Real Madrid brand.”
Since 2016, Codere has served as the official betting partner of the top-flight team, primarily using the Spanish Giant’s brand and players to promote its Codere Apuestas sportsbook brand across Spain and Europe.
However, this summer the Spanish government enforced the rules of the Royal Decree on Advertising, a federal mandate banning football clubs from promoting any forms of gambling advertising.
Moshe Edree, Managing Director of Codere Online, added: “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.”
Furthermore, the renewal covers Codere Online’s core LatAm markets of Colombia, Mexico, Panama and Buenos Aires, in addition to potential markets across Brazil, Chile, Peru, Puerto Rico and Uruguay.
“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,” added Edree.
In recent months, the LaLiga team announced a partnership with streaming service Cinedigm to make Real Madrid’s in-house streaming platform, Real Madrid TV, available in North America.
As part of the agreement, the service was made accessible in the US and Canada for linear and AVOD platforms on connected TVs, digital set-top boxes, media-streaming devices, as well as the web.
