Century Casinos announced it reached an agreement with its third sports betting partner, Tipico.
Monday’s agreement is with the Central City casino, while the other two are with the Cripple Creek location. Those partnerships are with Circa Sports and bet365.
Circa Sports is currently the only app live in Colorado that has an agreement with Century Casinos. There are currently 15 sports betting apps live in Colorado.
What are the deal entails?
The deal between Century Casinos and Tipico is for 10 years. It requires Tipico to pay a one-time market access fee, as well as minimum annual revenue and percentage share of net gaming revenue to Century Casinos each year.
Century Casinos already has its master license for sports betting in Colorado. Tipico still needs to complete its application and be approved by the Colorado Division of Gaming in order to operate in the state.
According to Century Casinos Co-CEOs Erwin Haitzmann and Peter Hoetzinger:
“We are very excited to be partnering with Tipico Sportsbook, one of the top sports betting companies in the world. And we look forward to a long and prosperous relationship.”
Tipico expands in U.S.
Colorado is just the second state that Tipico will be active in. The company is licensed in New Jersey and has its U.S. operations in Hoboken, NJ.
Tipico was founded in Europe in 2004. It currently employs more than 1,800 people across the globe, with another 4,200 working in the company’s franchise network. According to the press release, Tipico invests heavily in technologies to make sports betting safer and better, with an emphasis on player protection.
As Adrian Vella, Tipico’s Managing Director for U.S. Business, said:
“Tipico is thrilled to partner with Century Casinos and introduce sports fans throughout the state to our brand and proprietary technology.”
Colorado market continues to grow
It should come as no surprise that sportsbooks want to come to Colorado. The state’s betting handle for August was $128.6 million. That’s more than double the July total of $59.2 million.
Since fans can now bet bet on NFL, there’s no reason to believe that number will not continue to get bigger and bigger, too.