Codere Signs Alliance with United Tote
Updated: Friday, September 14, 2012 12:49 PM
Posted: Thursday, September 13, 2012 12:19 PM
In a move to provide future expansion at tracks in Latin America, international gaming company Codere announced the signing of a strategic alliance agreement with United Tote Sept. 13.
Added technological capabilities through the allowance agreement with the Churchill Downs Inc. company will permit Codere to expand services to tracks in Brazil and Latin America and its network of off-track sites throughout the region.
"This is a significant step for our long-term strategic model," said Ramon Rionda, director of racing for Codere. "We feel our relationship with United Tote and Churchill Downs is a key component for expanding our international presence in Latin America."
Rionda said the primary objective in the agreement with United Tote will be to enhance Codere's technical capabilities to distribute co-mingled international content in and for the Brazilian market.
"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," he said.
Since 2005, Codere has served as the exclusive distributor of international racing content in the Brazilian market. Andre Gelfi, Codere's general director for the Brazilian market, called the signing a major step in plans to increase the company's presence in the Latin American gaming market.
"We value our relationship with Jockey Club Brasileiro and this move will give us an opportunity to expand our presence throughout Latin America," Gelfi said. "Codere's ongoing objective is to grow its racing product through innovation and aggressive leadership in the industry.
"We have some exciting plans for future expansion in Brazil and throughout Latin America," he continued. "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."
Codere is active in the private gaming sector in Europe and Latin America with more than 20,000 employees, 184 gaming halls, three racetracks (Hipodromo de las Americas in Mexico, Hipodromo Presidente Remon in Panama, and Maronas National Racetrack in Uruguay), and 926 betting locations in Argentina, Brazil, Colombia, Spain, Italy, Mexico, Panama, and Uruguay, and runs internet gaming activities in Italy.
In Brazil, the company manages betting and international simulcasting with Jockey Club Brasileiro, Jockey Club do Paraná, and Jockey Club do Rio Grande do Sul.
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