Madrid (Spain) and Buenos Aires (Argentina), December 9, 2021.- Codere Online (NASDAQ: CDRO), the leading online sports betting and gaming operator in Latin America, announced this Thursday the launch of its operation in the City from Buenos Aires, Argentina).
The company offers its sports betting services and online casino games through the platform www.codere.bet.ar. Customers, who must be over 18 years of age and located in the City of Buenos Aires, may use Codere Online services through their computers, tablets or mobile phones, being able to place bets on numerous sporting events, both in the country and international
The company has recently strengthened its presence in this market through its sponsorship agreement with Club Atlético River Plate, becoming its Official Bookmaker. This allows you to reach the public in the country in the best possible way, offering your potential customers the best brand experience, with an omnichannel gaming offer.
In the words of Moshe Edree, Managing Director of Codere Online, “the start of operations in the City of Buenos Aires represents a fundamental milestone in our business plan and a complementary opportunity with the Codere Group's strategy in Argentina, a country in which started in 1992 and is currently a well established operator with 13 bingo halls and a recognized brand in the Province of Buenos Aires. The adult population of the City of Buenos Aires is almost 2.4 million, which together with the almost four million visitors, gives us a considerable opportunity to reach new clients ”.
The company will operate under an initial five-year license granted by LOTBA (Lotería de la Ciudad de Buenos Aires), the gaming regulator of the City of Buenos Aires. Gross Gaming Revenue (GGR) generated pursuant to this license will be subject to a 10% tax payable to LOTBA.
With the incorporation of the City of Buenos Aires, and through Codere Online, the group offers casino games and online sports betting in six markets, which also include Spain, Italy, Mexico, Colombia, and Panama.
The company maintains a firm commitment to responsible gambling, and in this sense, Codere Argentina received the 2020 Corporate Social Responsibility award in Latam delivered by SAGSE, for its program "When gambling is not gambling."
Codere is an international benchmark gaming operator, with a presence in seven countries in Europe - Spain and Italy - and Latin America - Argentina, Mexico, Panama, Colombia and Uruguay-, which operates gaming machines, bingo stands and terminals for omnichannel sports betting, both through the online channel and through points of sale that include gambling halls, arcades, bars, betting halls and racetracks.www.grupocodere.com
About Codere Online
Codere Online was launched in 2014 as part of the renowned casino operator of the Codere Group. Codere Online offers sports betting and online casino games through its state-of-the-art website and mobile app. Codere currently operates in its main markets in Spain, Italy, Mexico, Colombia, Panama and in the City of Buenos Aires (Argentina). Codere Online's online business is complemented by the physical presence of Grupo Codere in Latin America, forming the basis of the main omnichannel games and casinos in the region.
Code with responsible gaming
Codere is firmly committed to the development of a gaming offer with all guarantees for the user, and for this it carries out its activity by implementing the best responsible gaming practices, promoting transparency and promoting public policies that favor user guarantees, ensure that the protection of vulnerable groups and ensure the sustainability of the industry.