Online gaming operator Codere Online has been ranked 83rd among the 100 most valuable and strongest in the ‘Brand Finance Spain 2023’ ranking. This ranking, in which the Codere brand has been featured 11 times since 2010, determines the value a company would be willing to pay to license its brand by estimating its future attributable revenue and calculating a royalty rate that would be charged for its use.
Alberto Telías, Chief Marketing Officer of Codere Online, said: “We are incredibly proud to achieve this recognition as one of the most valuable brands in Spain and the only one in the gaming industry for seven consecutive years.”
He further added, noting: “This was driven by our commitment to delivering exceptional experiences to our customers, our omnichannel offer and our constant pursuit of innovation in the products and services we offer which have allowed us to be a highly regarded brand in the country.”
Codere Online started operations in Spain in 2014. The company in a press statement noted that Spain is both the largest market and the first one in which it has generated a positive EBITDA, setting out a path to profitability that the company will be seeking to replicate across its high-growth Latin American markets.
Codere Online launched in 2014 as part of the casino operator Codere Group. Codere Online offers online sports betting and online casino through its website and mobile applications, and currently operates in its core markets of Spain, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina).