CODERE, is a giant in the sector, a multinational group dedicated to entertainment and leisure, leader in the private games sector, with four decades of experience and presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama and Uruguay).
The company is the only Spanish company in the gaming sector listed on the stock exchange, starting its activity in 1980 as an operator of recreational machines in Spain, in the Community of Madrid. Since then, it has diversified its activities in the gaming industry, until becoming a leading company in the entertainment sector.
iGaming Brazil spoke exclusively with Bernardo Chena, Regional Manager for Latin America (with the exception of Mexico), at Codere, who explained the company’s growth strategies for the LATAM market, future marketing actions and the company’s plans to the Brazilian market.
Check out the Exclusive interview for iGaming Brazil
iGaming Brazil – Taking into account the last decade, what evolution have you seen in all these years and what was it like going through the pandemic here in Argentina and LATAM?
Bernardo Chena – A decade in the life of a company like Codere, in constant evolution, is a long way. Numerous conquests were made during this period.
The gambling industry at this time became one of the most regulated and, in turn, diversified its offer thanks to the enormous technological advances of recent times, which are reflected in the extensive online catalog of the region.
The pandemic has posed multiple challenges for the sector, especially for the retail channel. In Argentina, our game rooms were closed for nine months in 2020 and almost four in 2021, and there were similar situations in all the Latin markets where we operate. It was a situation that we had never experienced before, that had a full impact on our operations, but that helped us evolve as a company and learn to implement efficiencies, work even more as a team and support each other in the use of different technologies.
iGaming Brazil – You are terrestrial operators, but you have online games; which is the most profitable today?
Bernardo Chena – These are businesses in different stages of maturation. The terrestrial segment is consolidated and mature, while the online segment is in the implementation and growth phase in the region. Therefore, at Codere we are following the evolution of online through strong investments that ensure its consolidation, progressively representing a more important portion of revenue.
iGaming Brazil – How does Codere see the possibility that the gaming and casino law will be definitively approved in Brazil? Will it be positive for everyone?
Bernardo Chena – The regulation of Games and Casinos in Brazil is a milestone that the industry has been waiting for for many years. The recent approval of PL 442/91 in Congress was a significant step forward and another step towards what we believe will have a positive impact for all stakeholders in the sector. Brazil, due to its strategic and volumetric importance, and the market potential it represents, cannot be left out of this increasingly important business for the region. Likewise, we expect advances related to the Sports Betting Law, which only needs to be regulated, hoping that it will happen before the World Cup in Qatar, as announced by SECAP, which would be an important step forward, laying the foundations for a regulation market total.
iGaming Brazil – What are Codere’s plans in terms of marketing or market strategies?
Bernardo Chena – Codere aims to be the leader in the Latin American market in terms of sports betting and online casino, offering online services on a safe and reliable platform, which in turn is supported by what the brand represents. offer of face-to-face games in the region.
In sports betting, the idea is to offer the user an experience beyond the bet itself, incorporating the emotion of the sport. That’s why we have signed agreements with Real Madrid for more than twenty countries in Latin America; with the Rayados de Monterrey football club; in Mexico and with River Plate (Argentina), generating different types of activations with clients.
Regarding the casino offer, we work to have the most varied and complete offer, with the best content within this entertainment segment.
iGaming Brazil – How do you see the world of games in the current situation? Is it a time of challenges or opportunities?
Bernardo Chena – For Codere there are always opportunities, fundamentally with the advancement of online regulation in different jurisdictions, which may vary according to the market in which it operates. Our efforts are focused on providing the best omnichannel experience for our customers. In this way, we seek to consolidate operations, which are constantly growing, and make the investments made profitable by increasing our market share.
iGaming Brazil – What criteria do you adopt for the design and launch of your new products?
Bernardo Chena – The general criterion is the simplicity of use of our platform, without barriers for anyone. But it also has a varied offer so that everyone can put together their own entertainment combination. From the basic user to the one with the most user experience. Furthermore, the offer in each country includes the local component, offering specific services that respond to the idiosyncrasies of each location.
iGaming Brazil – What are your growth strategies in the LATAM market and in Brazil?
Bernardo Chena – As an international company, we are attentive to growth opportunities in the region, both in retail and online. Not only in markets where we leverage our physical presence and where we already have online operations; such as Mexico, Colombia, Panama and the City of Buenos Aires (Argentina), where we have implemented a successful omnichannel strategy; but also in other countries that have ongoing online gaming regulation processes, such as Brazil, Chile and other provinces in Argentina, among other geographies.
We estimate that in the short to medium term new jurisdictions will be added and it is our intention to complete our service offering across the region. We have a robust online services platform, successfully tested in several markets in Europe and Latin America, and which can be quickly implemented in other latitudes.
