Codere and XB Net have entered into a renewed agreement aimed at elevating the betting experience for customers through access to a wealth of data, live pictures, and betting services from over 60 North American racetracks. This collaboration opens up opportunities for bettors to engage with over 75% of US horseraces across Codere’s retail and digital channels.
Expanding Market Reach:
The partnership between Codere and XB Net underscores a strategic move to expand market reach, particularly in the domain of North American racing. By leveraging XB Net’s infrastructure, Codere can tap into a vast array of racing events, enhancing its offerings and attracting a broader audience of bettors. This expansion aligns with Codere’s commitment to providing diverse and engaging betting opportunities to its customers.
Enhanced Customer Experience:
Through the integration of XB Net’s services, Codere aims to elevate the overall customer experience by delivering high-quality content and betting options. The availability of data and live pictures from numerous North American racetracks enriches the betting environment, allowing customers to immerse themselves in the excitement of horseracing events. This focus on enhancing the customer experience is pivotal in fostering loyalty and satisfaction among Codere’s user base.
Strategic Timing and Market Alignment:
Borja Mata, Content & Supplier Manager at Codere, highlights the strategic advantage of Spain’s time zone in facilitating seamless access to evening meetings in North America. This temporal alignment ensures that customers can enjoy top-class programming throughout the day, further enhancing the appeal of Codere’s offerings. The strategic synergy between Codere and XB Net capitalizes on market trends and customer preferences, driving sustained growth and engagement.
Validation of Product Merits:
Simon Fraser, SVP of International at XB Net, emphasizes Codere’s recognition of the merits and utility of North American racing, particularly during challenging periods such as the pandemic. The retention of customers drawn to North American racing underscores the effectiveness and appeal of XB Net’s product offerings. This validation reaffirms the value proposition of XB Net’s solutions and strengthens the foundation of the partnership with Codere.
Financial Performance and Growth Prospects:
The financial performance of Codere, as evidenced by its Q1 results with $24.5 million in total revenue, reflects its resilience and growth trajectory. The forthcoming Q2 report is anticipated to showcase further growth for the Spanish operator, driven by strategic initiatives such as the partnership with XB Net. This financial outlook underscores the positive impact of collaborative efforts in driving business expansion and revenue generation.
The renewed partnership between Codere and XB Net marks a significant milestone in enhancing the bet experience for customers, particularly in the realm of North American racing. By leveraging XB Net’s infrastructure and expertise, Codere aims to expand its market reach, enhance customer satisfaction, and drive sustained growth. The strategic alignment of market trends, coupled with a focus on product innovation and customer-centricity, positions both companies for continued success in the dynamic landscape of sports betting.