The deal will see Codere become the team’s main sponsor from July, with the operator’s logo to appear on the club’s kit and shirt.
Codere said the agreement would allow it to advance its strategic project of international expansion and brand consolidation, thanks to the visibility gained through marketing and promotional actions planned together with the club.
Codere has been operating in Mexico since 1998, after being granted permits to offer betting and raffles from the country’s Ministry of the Interior.
Its permits allowed the company to install terminals and gaming halls, betting points and to operate the Hipódromo de las Américas racecourse in Mexico City.
In addition to the racecourse, the operator currently runs close to 100 gambling halls, the Granja de las Américas family park, the Citibanamex convention centre and online gaming in the jurisdiction.
Codere said that at the end of 2019, Mexico accounted for 22% of the group’s global revenues.
“It is a pleasure for CFM to begin a relationship with an international brand like Codere, which will help us both to continue consolidating our growth and achieve our goals” said Pedro Esquivel, executive vice president of the Monterrey Rayados A.C. Football Club.
“We believe in long-term alliances with business partners who share our values and objectives, for which we thank Codere for their trust and we are sure that great things will come for the future.”
Alberto Telias, Codere Marketing Director, added that the operator and football club have similar values.
“The agreement with Rayados de Monterrey is an extremely exciting project,” he said. “We believe that we have common brand values, which we want to exploit together.
“Partnering with such a successful and important team as Rayados, after a period of pandemic with great impact on the game, is confirmation of the strong proposal that Codere has for Mexican players.”
Results published in November showed that Codere’s revenue in the third quarter of 2020 declined 58.4% to €143.0m (£124.2/$172.1m). The operator made only €20.9m from Latin America for the quarter, down 89.5%.
Later in November, the operator set out a new standardised corporate social responsibility and responsible gambling strategy to use across all markets in which it is active.