Codere among the 100 most valuable brands in Spain
Madrid, Spain, June 32022 (GLOBE NEWSWIRE) – Codere Online Luxembourg, SA (Nasdaq: CDRO/CDROW) (the “Company” or “Codere Online”), a leading online gaming operator in Spain and Latin America, today announced that the Codere brand1 was ranked 61st among the 100 most valuable and strong in the “Brand Finance Spain 2022” ranking.
This ranking, in which the Codere brand has systematically appeared since 2010, determines the value that a company would be willing to pay to license its brand as if it did not own it, by estimating the future revenues attributable to a brand and by calculating a fee rate that would be charged for its use.
For Alberto Telías, Chief Marketing Officer of Codere Online “this ranking is a fantastic thermometer to measure the progress of the Codere brand, which in our case is driven by our omnichannel offer, innovation in products and services, our sports sponsorships with leading teams and our commitment to responsible gaming”.
Mr. Telías further added, “to be included in this ranking again this year, the improvement in Codere’s position from 2021, despite the limitations that Codere Online had due to the Covid pandemic and restrictions advertising and promotional campaigns in Spain, is quite remarkable and proves Codere’s position in brand building efforts yielding results, with a strong, resilient and highly valued brand with which our customers feel a strong connection.
Codere Online began operations in Spain in 2014. Spain is both our largest market and the first in which the Company has generated positive EBITDA, paving the way for the profitability that the Company will seek to replicate in its market. fast-growing Latin American. markets.
About Codere Online
Codere Online means, collectively, Codere Online Luxembourg, SA and its subsidiaries. Codere Online was launched in 2014 as part of the well-known casino operator Codere Group. Codere Online offers online sports betting and an online casino through its state-of-the-art website and mobile app. Codere currently operates in its main markets of Spain, Italy, Mexico, Colombia, Panama and the city of Buenos Aires (Argentina). Codere Online’s online business is complemented by the Codere Group’s physical presence throughout Latin America, forming the foundation for the region’s leading omnichannel gaming and casino presence.
About Codere Group
Codere Group is a multinational group dedicated to entertainment and leisure. It is a leading player in the private game industry, with four decades of experience and a presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama and Uruguay).
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Certain statements contained herein may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, SA and its affiliates (collectively, “Codere Online”) or the expectations, hopes, beliefs, intentions or strategies of Codere Online or its management team regarding the future. In addition, any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, ” possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not prospective. Forward-looking statements contained herein may include, for example, statements about the financial performance of Codere Online and, in particular, the potential development and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial condition, estimated revenues and losses, projected costs, prospects and plans.
These forward-looking statements are based on information available as of the date of this document and on current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be taken to represent the views of Codere Online or its management team as of any future date, and Codere Online assumes no obligation to update any forward-looking statements to reflect future events or circumstances after the date on which they were made, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Due to a number of known and unknown risks and uncertainties, actual results or performance of Codere Online may differ materially from those expressed or implied by such forward-looking statements. There may be additional risks that Codere Online is not currently aware of or that Codere Online currently believes to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data usage and data protection rules and regulations , as well as heightened consumer expectations regarding the appropriate protection of their personal information, (ii) the impacts and ongoing uncertainties created by the COVID-19 pandemic, regulatory restrictions, shifts in gaming industry perception, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv ) downside risk and the possibility of rapid change in the highly competitive industry in which Codere Online o father, (v) the risk that Codere Online and its current and future associates are unable to successfully develop and market the Codere Online services, or experience significant delays in doing so, (vi) the risk that Codere Online never achieves or maintains profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online may experience difficulty in managing its growth and expanding its operations, (ix) the risk that third-party providers, including the Codere Group, may not be able to fully and timely fulfill their obligations, ( x) the risk that online gaming operations may not deliver the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses on a timely basis or at all, (xi ) the risk that Codere Online may not be able to secure or protect its intellectual property, and (xii) the possibility that Codere Online may be affected by other political, economic, business and/or competitive factors. Additional information regarding some of these and other risk factors is contained in Codere Online’s filings with the United States Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements regarding Codere Online or other matters and attributable to Codere Online or anyone acting on their behalf are expressly qualified in their entirety by the above cautionary statements.
This document may contain trademarks, service marks, trade names and copyrights of Codere Online or other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights mentioned herein may be listed without the TM, SM, © or ® symbols, but Codere Online will, throughout extent provided by applicable law, the applicable owners’ rights, if any, in such trademarks, service marks, trade names and copyrights.
1 Pursuant to the terms of a relationship and license agreement, Codere Group has granted Codere Online a license to use certain “Codere” marks.