Spanish gaming firm Codere announced the formation a strategic alliance with United Tote, a company under the Churchill Downs corporate umbrella, online gambling news in Brazil wrote earlier.
According to the agreement, the technological capabilities will allow Codere to expand its services that allow players to bet on sports in Brazil and Latin America, as well as its network of off-track sites throughout the region.
Ramon Rionda, Director of Racing for Codere commented: “This is a significant step for our long-term strategic model,” said “We feel our relationship with United Tote/Churchill Downs is a key component for expanding our international presence in Latin America”.
Rionda added: “Our ongoing goal is to add value and increase our client services and this gives us the chance to diversify while still complementing the quality product line we have always offered.”
Rionda said the primary objective in the agreement with United Tote will be to enhance Codere’s technical capabilities to distribute commingled international content in and for the Brazilian market.
Since 2005, Spanish gambling giant Codere has acted as the exclusive distributor of international gambling content in the Latin-American country in full accordance with the Brazilian gambling laws.
Andre Gelfi, Codere’s General Director for the Brazilian market, called the signing a major step in plans to grow the company’s presence in the Latin American gaming market.
Gelfi added: “We have some exciting plans for future expansion in Brazil and throughout Latin America and we felt an alliance with a major international brand like Churchill Downs and United Tote would provide a proper launching pad for us to accomplish our objectives”.
Nate Simon, President of United Tote, called the alliance a major step in the company’s international expansion, saying: “This is a wonderful opportunity for two multinational public companies to combine their resources and expand their services,” Simon said. “Hopefully, it will lead to more growth and shared goals in the future. We look forward to working with Codere.”