Codere Online Becomes the NFL's Official Betting Partner in Mexico

Codere Online has signed a multi-year deal with the National Football League, becoming the league's official betting partner in Mexico. The timing is good: the NFL returns to Mexico City this November, and Mexico is already Codere Online's biggest market and one of its fastest-growing.

The deal gives the Nasdaq-listed operator a major US sports brand in the market that matters most to it. Codere Online will be an official partner of the NFL Mexico Game, where the San Francisco 49ers face the Minnesota Vikings in Mexico City on November 22, 2026. It will also be part of the league's activities around Super Bowl LXI in Los Angeles next February.

It goes beyond putting a logo on the field. The package includes hospitality programs, VIP experiences, official NFL merchandise and fan events in several Mexican cities. That gives Codere Online plenty of ways to reach football fans across the country during the season, not only on game day.

The announcement, issued from Mexico City on 10 September, lists four designations: Official Betting Partner of the NFL in Mexico, Official Partner of Super Bowl LXI, Official Partner of the NFL Mexico Game and Official Sports Betting Sponsor. The Super Bowl itself is scheduled for 14 February 2027 at SoFi Stadium in Inglewood, in the Los Angeles area. Both sides said the NFL-related content and fan experiences will be delivered in line with responsible gaming, integrity and regulatory compliance standards.

"World-Class Sports Properties"

Codere Online presents the deal as part of a push to be seen as a premium brand.

The NFL sees Mexico as one of its most important international markets. "Mexico is one of the NFL's most vibrant and important international markets, with millions of passionate fans engaging with our game year-round," said Arturo Olivé, Managing Director of NFL Mexico. "We are pleased to welcome Codere Online, one of Mexico's most established and recognized online gaming and sports betting operators, as a partner. Together, we will elevate the fan experience through innovative activations, exclusive opportunities and unique moments that bring supporters closer to the NFL."

Mexico has one of the league's largest fan bases outside the United States and plays a central role in its plans for global growth. The November game at Estadio Banorte, formerly Estadio Azteca, will be the NFL's first game in Mexico City since 2022. It kicks off a new three-year commitment to hold regular-season games in Mexico.

Two Decades of NFL Football in Mexico City

The league's history at the stadium runs deep. On 2 October 2005 the Arizona Cardinals beat the 49ers 31–14 there in the first NFL regular-season game ever staged outside the United States, in front of 103,467 spectators. Mexico City then joined the International Series with games in 2016, 2017, 2019 and 2022, the last of them a 38–10 San Francisco win over Arizona. A 2018 game between the Chiefs and Rams was moved to the Los Angeles Memorial Coliseum because of concerns about the state of the pitch.

The stadium itself was out of action for much of that gap. It closed in May 2024 for a renovation tied to the 2026 FIFA World Cup, took on the Banorte name after the bank bought the naming rights in March 2025, and reopened on 28 March 2026. On 11 June it staged the tournament's opening match, making it the only stadium to host games at three World Cups. In February 2026 the NFL confirmed a multi-year return to Mexico City once the works were finished.

The league has had a local office in Mexico since 1998, and ten clubs, including the 49ers, currently hold marketing rights in the country under its global markets programme.

Mexico Is Codere Online's Engine

The deal fits the numbers. Mexico is Codere Online's largest market and its top investment priority. In the second quarter, the country produced €36.1 million in net gaming revenue, 24% more than a year earlier. The company called it its strongest quarter ever.

Group-wide, net gaming revenue reached a record €69.4 million in the April–June period, 27% higher than a year before, while Spain contributed €27.6 million. Adjusted EBITDA came in at €5.8 million, and the company ended June with €62.6 million in cash and no financial debt. On the strength of those figures it lifted its 2026 guidance to €255–265 million in net gaming revenue and €20–25 million in adjusted EBITDA. The World Cup helped: the company said stakes around the tournament reached €63 million, 180% above the 2022 edition, and that it added nearly 40,000 new customers around the event.

Codere Online was launched in 2014 as the digital arm of the Spanish gaming group Codere, which remains its majority owner, and it listed on Nasdaq in 2021 after merging with the special purpose acquisition company DD3 Acquisition Corp. II. Its parent has operated in Mexico since 1998, which gives the online business the backing of the group's network of physical gaming venues. According to industry data cited in its latest investor presentation, Mexico's online gaming market generated about €2.5 billion in gross gaming revenue in 2025, second only to Brazil in Latin America, and is projected to exceed €5.6 billion by 2030.

Mexico is a hard place to operate, though. Online gambling there still falls under the Federal Law of Games and Draws from 1947, long before online betting existed, and there is no modern law written for the sector. CEO Aviv Sher described the problem earlier this year: "We work based on a framework from 1947 — it's very hard to work long-term and give commitments."

The statute was published in the federal Official Gazette on 31 December 1947 and took effect in January 1948. Gaming is a federal matter in Mexico, with licences granted by the national government rather than the states.

That makes a long NFL commitment notable. Codere Online is making a long-term bet on Mexico even though the rules there are unclear. It expects that the country's growing interest in American football, along with the league's return to Mexico City and the Super Bowl build-up, will help it win customers. If that works, the NFL deal could bring in new players and help the brand stand out in a crowded market.