There has been a multi million dollar deal signed between International sports betting company Tipico, and Century Casinos in Colorado. Century has holdings in Colorado, Missouri, West Virginia, Alberta, and Bath, England.
According to a statement from Tipico, which is based in St. Julians, Malta, the deal involves online sports betting in Colorado. Century properties have their main office in Colorado Springs, about 60 miles south of Denver. They are becoming a leading brand for sports betting in the state.
Century has two casinos in Colorado, one in the old mining town of Cripple Creek, which is in the Southern part of Colorado and one in the small mountain town of Central City. This is the third lucrative sports betting deal in Colorado for Tipico holdings, one of the largest international sportsbook operators.
Tipico’s 3rd Colorado Deal
According to a source with knowledge of this agreement, ‘It is a ten year deal between Tipico and Century. The agreement entitles Tipico to a one time market access fee. There is also a minimum amount of yearly revenue that is guaranteed. There is also a percentage fee of sports betting revenue that Tipico will receive.’
Tipico reps said on Tuesday, ‘that they have a game plan of expanding their US operations. They are soon rolling out a partnership with some casinos in New Jersey’, which is currently the largest sports betting market in the United States.
Colorado had a very rocky start with their sports betting roll out. They had originally planned to have a huge festive party-like roll out on May 5th, which is Cinco De Mayo. Denver has the largest Cinco De Mayo celebration in the country.
COVID-19 and all of the sports shutdowns, put a kibosh on the Cinco De Mayo celebrations. Officials in the state decided to launch their sports betting in May, despite the pandemic. It was what gaming officials called ‘a very soft roll out.’
In spite of the setbacks, Colorado gamblers showed an early enthusiasm for sports betting. Residents placed bets on whatever was available such as international dart matches or the Korean Baseball Organization. Gaming officials said, ‘from day one we have had excellent numbers.’ Those numbers have only improved with the return of North American sports.
Colorado Sports Betting Handle Exploded In June
Gaming officials also said, ‘we have very progressive people that call Colorado home, we were the first state to legalize recreational marijuana. Although our sports betting started out a little wobbly, people are definitely making up for lost time which has kept this a very competitive market.’
As with other states, the sports betting handle amounts were helped along with the return of Major League Baseball, the NFL and the NBA. Colorado gaming officials said, ‘sports betting records were set in July due to those leagues returning. August topped July, and we have been steamrolling ahead full force.’
Colorado has close to 6 million residents, and recently there has been a large influx of Californians fleeing their state. They are exiting in droves due to the non stop fires, and the extremely high cost of living. Colorado has the fastest growing sports betting industry in the West.