Codere climbs positions among 100 most valuable brands in Brand Finance Spain 2022 ranking

Online gaming operator Codere Online Luxembourg announced Friday that the Codere brand has been ranked 61st among the 100 most valuable and strongest in the 'Brand Finance Spain 2022' ranking, an improvement compared to last year's ranking.

This ranking, in which the Codere brand has been consistently included since 2010, determines the value a company would be willing to pay to license its brand if it did not own it, by estimating the future revenue attributable to a brand and calculating a royalty rate that would be charged for its use.

Alberto Telías, Chief Marketing Officer of Codere Online, said: "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."

"To be included in this ranking again this year, improving Codere’s position from 2021, despite the limitations that Codere Online had due to the Covid pandemic and the advertising and promotional restrictions in Spain, is quite remarkable and proves Codere’s brand-building efforts are yielding the right results, with a strong, resilient and highly valued brand to which our customers feel a strong connection," he added.

Codere Online started operations in Spain in 2014. In a press release, the company described Spain as its most significant market as well as the first one in which the company 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 as part of casino operator Codere Group, and offers online sports betting and online casino through its website and mobile application. The operator is currently also live in Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). The online business is complemented by Codere Group's physical presence throughout Latin America.