Spain, Italy and Latin America-facing gaming company Codere has reached an agreement with River Plate to become the Argentinian football club’s official betting partner.
The four year deal comes into effect in August and will run until the 2024/25 season. The Codere logo will be visible on the team’s shirt sleeves.
River Plate become the latest Latin American football team to partner with Codere, after Mexican side Monterrey Rayados signed a similar deal earlier this month.
Codere’s sponsorship manager Carlos Sabanza 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, which recently spun off and listed its online business on the US Nasdaq stock market following a SPAC deal, hopes that the River Plate sponsorship deal will help strengthen the company’s foothold in Argentina.
River Plate vice chairman Jorge Brito added: “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 had faced financial difficulties amid the novel coronavirus (Covid-19), leading it to enter restructuring deal in which its creditors will take control of its operating business.
