Codere, a prominent online gaming operator in Spain and Latin America, has recently unveiled a significant extension and expansion of its partnership with the Monterrey Rayados Football Club. This renewed collaboration spans the next four seasons and encompasses various aspects, including Codere’s role as the Club’s Official Betting Partner and its newfound position as the ‘Main Sponsor’ for Rayadas, the women’s team.
Strengthening Market Presence:
Codere’s decision to extend its partnership with Monterrey Rayados underscores its strategic focus on consolidating and expanding its presence within the Mexican gaming market. By aligning with one of Mexico’s most esteemed football clubs, Codere aims to leverage the widespread popularity and influence of Monterrey Rayados to enhance brand visibility and deepen engagement with fans across the country.
Collaborative Growth:
The collaboration between Codere and Monterrey Rayados is not merely transactional but reflects a mutually beneficial relationship aimed at fostering growth and achieving shared objectives. Alberto Telias, Codere Online CMO, emphasized the club’s pivotal role in facilitating Codere’s entry and subsequent growth in the Mexican market. This sentiment was echoed by Pedro Esquivel, Monterrey Football Club EVP, who expressed gratitude for Codere’s continued support and highlighted the importance of long-term alliances with partners who align with the club’s values and aspirations.
Sponsorship Dynamics:
As part of the renewed partnership, Codere secures prominent visibility as the main sponsor for Rayadas, the women’s team, in addition to retaining its position as the Official Betting Partner for the Monterrey Rayados Football Club. This strategic placement of Codere’s logo on the club’s jersey and various other spaces signifies a significant branding opportunity, allowing Codere to reinforce its presence and association with one of Mexico’s most revered football franchises.
Financial Performance and Leadership Addition:
In tandem with its partnership expansion, Codere Online reported notable growth in its fourth-quarter and full-year results for 2023. The company witnessed a substantial increase in net gaming revenue, particularly in key markets like Mexico, where revenue surged by 60% compared to the previous year. Furthermore, Codere Online strengthened its leadership team by appointing Michal Elimelech to its Board of Directors, signaling a commitment to bolstering strategic capabilities and driving continued success.
Codere’s extended partnership with Monterrey Rayados signifies a strategic milestone in its quest to solidify its position in the Mexican gaming landscape. By leveraging the allure of football and aligning with a prestigious club like Monterrey Rayados, Codere aims to enhance brand visibility, foster fan engagement, and capitalize on the burgeoning opportunities within the Mexican market. As the partnership unfolds over the next four seasons, it is poised to deliver mutual benefits and shape the future trajectory of both Codere and Monterrey Rayados Football Club.