Century Casinos has signed a 10-year agreement with European online sports betting operator Tipico making it its third Internet wagering partner in Colorado.
The casino operator, which owns two Century Casino & Hotel properties in the Centennial State, has previously announced similar deals with bet365 and Circa Sports.
Colorado legalized sports betting last November and the state’s first online sportsbooks went live on May 1. Century Casinos obtained three master licenses for the provision of sports betting services from the Colorado Limited Gaming Control Commission in April.
The licenses authorized the company to launch three digital sportsbooks with partners. As mentioned earlier, Tipico has become Century Casinos’ third wagering partner in Colorado.
Tipico is a European online sports betting operator that, like many of its peers, has been looking to grow its market-share in the fast-growing US wagering space. The company announced earlier this year plans to launch an online sportsbook and casino in New Jersey and is now looking to debut its offering in one more state where sports betting is legal.
Tipico is yet to complete the necessary application and approval process with Colorado regulators. Once this happens, it will operate an online sportsbook and a mobile betting app under the Tipico brand and in partnership with Century Casinos.
Thrilled to Team Up with Century Casinos
Commenting on their partnership with the casino operator, Adrian Vella, Managing Director of Tipico’s US business, said that they are thrilled to team up with Century Casinos which is a “highly respected name in Northern American casino entertainment” and that this alliance will enable them to bring their fully mobile sports betting experience to Colorado and introduce their brand and proprietary technology to sports fans throughout the Centennial State.
As mentioned above, Century Casinos and Tipico have signed a 10-year agreement. The deal includes a one-time market access fee that is to be paid to the casino operator by its sports betting partner on contract signing. Century Casinos will also receive a minimum annual revenue guarantee and an annual percentage share of the net gaming revenue generated by Tipico’s sportsbook.
Century Casinos Co-CEOs Erwin Haitzmann and Peter Hoetzinger said that they are very excited to be partnering with Tipico and that they are looking forward to a long and prosperous relationship.
The two executives further noted that they believe Colorado regulators have done an “excellent job” launching sports betting in the state and that the Centennial State will be an ideal market for Tipico as the online sports betting operator continues its expansion and growth in the United States.
Century Casinos in February announced a sports betting partnership with Circa Sports, the sports betting arm of Downtown Las Vegas developer and casino owner Derek Stevens. In May, the casino operator penned a similar alliance with online gambling giant bet365 to further venture into Colorado’s sports betting market.
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