Codere Italia, the local arm of multi-channel operator Codere Group, has announced its entry into the regulated online gambling market in Italy.
Codere Italia was already offering retail gambling services in Italy. This included gaming halls and bingo venues, as well as a network of gaming machines across other locations such as bars.
However, the operator secured an extended licence from Agencia de Aduanas y Monopolios (ADM) to operate online. Its local, Italy-facing website – Codere.it – is now live and Codere Italia said the launch marked a “strategic step” in the evolution of its offering in Italy. The operator added it will seek B2B partnerships with other operators and companies seeking to grow their presence in the country.
The launch expands Codere’s wider iGaming footprint further into Europe, outside its home market of Spain.
‘Natural and strategic’ step for Codere in Italy
Alejandro Pascual, regional manager for Europe and country manager of Codere Italia, said customers in Italy would benefit from a “consistent, high-quality” omnichannel experience.
“With Codere.it, we are taking a natural but strategic step: to also decisively consolidate the online segment, while maintaining our identity as a committed, regulated and customer-centric operator,” Pascual said.
“Our goal is to offer a consistent, high-quality omnichannel experience. Codere is strongly interested in developing collaborations with industry partners, particularly those already operating in Italy and wishing to continue operating online with the support of a strong and trusted brand.”
Roberto Russo, director of online operations at Codere Italia added: “We have built a solid and scalable platform, ready to grow and adapt to the needs of our users and partners. Our approach is long-term, with the goal of creating a safe gaming ecosystem capable of establishing itself as a benchmark in the Italian market.”
Italy’s consolidated iGaming sector
While Codere will be a newcomer to the Italian iGaming sector, many other operators have been put off by recent reform in the country.
In May, the ADM officially ended its tender process to award remote gambling concessions for the regulated market. However, compared with the previous tender that attracted 93 applications, only around 50 were said to have thrown their hat in the ring this time around.
These concerns were realised a few weeks later when the ADM confirmed 46 applications were approved for new online gambling licences. Betfair, Snaitech and Sisal, all owned by Flutter Entertainment, were on the approved list, along with 888 Italia (Evoke), Hillside (Bet365), LeoVegas and William Hill.
Lower interest can be put down to the higher fees associated with the licences. The new €7 million figure eclipses the existing fee of €200,000 under the previous licensing model.
Online sports betting and online casino operators also face tax rates of 24.5% and 25.5% on gross gaming revenue (GGR), respectively. Operators will also be subject to an annual fee set at 3% of GGR.
In addition, they must spend at least 0.2% of their GGR on responsible gambling campaigns.
Codere is now offering online casino and sports betting in Italy.