Codere announces strategic alliance with United Tote

The added technological capabilities allow Codere to expand services to tracks in Brazil and Latin America, as well as its network of off-track sites throughout the region. “This is a significant step for our long-term strategic model,” said Ramon Rionda, Director of Racing for Codere. “We feel our relationship with United Tote/Churchill Downs is a key component for expanding our international presence in Latin America.

“Our ongoing goal is to add value and increase our client services and this gives us the chance to diversify while still complementing the quality product line we have always offered”, he said. Rionda said the primary objective in the agreement with United Tote will be to enhance Codere’s technical capabilities to distribute commingled international content in and for the Brazilian market.

Since 2005, Codere has served as the exclusive distributor of international content in the Brazilian market. Andre Gelfi, Codere’s General Director for the Brazilian market, called the signing a major step in plans to grow the company's presence in the Latin American gaming market.

"We have some exciting plans for future expansion in Brazil and throughout Latin America and we felt an alliance with a major international brand like Churchill Downs and United Tote would provide a proper launching pad for us to accomplish our objectives," Gelfi said.

Nate Simon, President of United Tote, called the alliance a major step in the company's international expansion. "This is a wonderful opportunity for two multinational public companies to combine their resources and expand their services," Simon said. "Hopefully, it will lead to more growth and shared goals in the future. We look forward to working with Codere."