Codere doubles its commitment to corporate social responsibility

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Codere doubles its commitment to corporate social responsibility

Codere announced the update of its Corporate Social Responsibility and Responsible Gambling Plan, to “unify actions in different markets and promote them through a strategic project, with which it aims to improve its response to the main expectations and social concerns of the industry ”.

The company carried out a careful analysis of the perspectives and requirements of its different interest groups, in order to prioritize them and define positions and lines of action, in order to respond to the market and minimize any adverse effects that its activity may have. can have in society.

“Codere continues to evolve in the dialogue with the market, responding to its demands based on its pillars of integrity and transparency. Our goal as a company is to create responsible value. For this, we must connect with the expectations of our audiences and include their interest in the best possible way in our processes ”, said Codere’s CEO, Vicente Di Loreto.

Pillars of Codere’s social responsibility plan

To provide a global response, the company formed an Institutional Relations Committee. This committee, which becomes responsible for monitoring the plan, carried out an exhaustive analysis over the past year, identifying the following themes as priorities:

Advertising regulation: Poor regulation of commercial gaming communications can lead to overexposure, which threatens the ideal protection of vulnerable groups – especially minors. The company defends reasonable limitations to the advertising of the game, whatever the nature of the operator (public or private).

Play site planning: Codere supports a regulation that outlines the installation of sites, their size and the types of games that can be offered – with the aim of rationally reducing the incidence of problematic games.

Control of access to the game: Codere is radical in relation to the zero access of minors and vulnerable people, either through the face-to-face or online channel. To this end, in addition to exhaustive compliance with the regulations in force, the company maintains partnerships with public and private organizations to promote actions that allow it to fulfill this purpose.

Management of vulnerable groups: the company undertakes to permanently analyze and implement responsible gambling measures, in order to ensure the best protection for minors and people with problematic behaviors. The company’s responsible gambling program is structured around the pillars of prevention, awareness, detection and management of risk behaviors.

Sector image: misinformation about gambling activity favors the spread of prejudices and beliefs not supported by data, which deteriorate the sector’s public image. Codere understands that it must support the segment and contribute to it, promoting and disseminating real studies on the global market.

Positioning of group representatives in Europe and LatAm

“Our sector makes an important social contribution in terms of job creation and tax contributions to public coffers. The data on the incidence of risky behavior shows that there is no generalized social problem in relation to the activity ”, explained Bernardo Chena, regional manager at Codere LatAm.

Chena added: “While the demand figures reflect that there has been no growth in recent years, but rather a transformation in consumer preferences in some markets, as may be the case in recent years of a greater preference for sports betting or online games.”

In turn, Alejandro Pascual, Codere Europa’s regional manager, stressed that “despite the contribution of this sector, its overexposure due to the increase in advertising activity and public discourse, has contributed to generate a negative social perception, without a scientific basis”.

According to Pascual, the ideal is to “continue our work in implementing the best practices of responsible gambling and giving visibility to what we do and are; a highly regulated and responsible industry that meets the entertainment needs of its customers ”.