Everyone in Spain knows Codere for its forty years of “amusement with prizes” slot machines. It is quite the successful enterprise now in its home country and abroad. It is home to bingo parlors, casinos, and other entertainment venues.
As Spain’s gambling landscape is vast, the government is starting to crack down on the industry. According to Codere CEO, Vincente di Loreto, Spain will play an even more important role in the company’s continued success.
In a recent virtual conference, Apostamos x Ti (We are Betting on You), Codere affirmed its goals. According to di Loreto, Spain is a key market upon which he pins the company’s growth. It may take a redoubling of efforts and investments.
“There are difficulties and uncertainties, of a regulatory nature,
but these are challenges to face by leveraging our strategic pillars..
the potential of this market is beyond the current situation.”
Regulatory issues concern Spain’s government and the gambling regulator coming down hard on all forms of gambling.
Among expected changes are advertising restrictions for both land-based and online casinos. There will be set times for TV and radio spots between one and five am.
Regulations will also force sports organizations to call a halt to their sponsorships with casinos and gaming companies.
Betting caps will be introduced as a result of the pandemic and although temporary, they could be converted into permanent limits.
Any controls are likely to impact gaming operators negatively. Codere is ready with its own plan to engage more with its customers. It hopes to convert players in land-based casinos to online gamblers. Thus, it should face the competition with an edge.
Codere has the strategies needed to thrive. In fact, it is the only casino operator with a retail presence across every corner of Spain.
Chief Operating Officer Alejandro Rodino is convinced of the plan’s success, following the lead of di Loreto.
“We are working to consolidate our leading position in sports betting… we are redefining our commercial proposal with an innovative approach that allows us to offer more value to customers. Our omnichannel strategy generates greater customer loyalty.”