Codere Online starts operations in Argentina
Jugadón, Bplay, Super7 and BetWarrior will also offer online betting in the city of Buenos Aires
Codere Online has announced its launch in Argentina after receiving an initial five-year licence.
From Thursday onwards, Codere Online began accepting sports wagers in the Argentinian capital of Buenos Aires, through its platform www.codere.bet.ar.
Expanding Codere’s operations in Argentina adds to the company’s expansion plan in Latin America alongside an existing presence already in Spain, Italy, Mexico, Colombia and Panama.
Meanwhile, other operators including Jugadón, Bplay, Super7 and BetWarrior have also started their operations in the City of Buenos Aires.
Moshe Edree, Codere Online MD, said: “Starting operations in the City of Buenos Aires is a critical milestone in our business plan and a complementary opportunity to Codere Group’s strategy in Argentina, where it entered in 1992 and is currently a well-established operator with 13 bingo halls and a strong brand awareness in the Province of Buenos Aires.
“The adult population of the City of Buenos Aires is nearly 2.4 million, which together with between three and four million commuters, provides us with a sizable opportunity to reach new customers.”
Codere Online has been granted its license by LOTBA (Lotería de la Ciudad de Buenos Aires), the gaming regulator of the City of Buenos Aires.
Gross Gaming Revenue generated pursuant to this licence will be subject to a 10% tax payable to LOTBA.
Codere Online announced its debut on the Nasdaq last week following a merger with Mexican SPAC DD3.