Casino operator Century Casinos has secured a high-profile sports betting partner as it looks to claim a share of Colorado’s nascent wagering market.
The company announced today that it has teamed up with British online gambling powerhouse bet365 to provide digital sports betting services on the territory of the Centennial State.
Century Casinos operates two Century Casino & Hotel properties in the state, one in Cripple Creek and the other in Central City.
The casino operator announced in early April that it has won approval from the Colorado Limited Gaming Control Commission for three Sports Betting Master Licenses for conducting sports betting in the Centennial State.
The company has partnered with Circa Sports Colorado LLC for one of the above mentioned Master Licenses. Circa Sports itself obtained last month a temporary Internet Sports Betting Operator License from Colorado regulators to run an Internet sportsbook and mobile betting.
The state’s first digital sportsbooks went live on May 1, even though bettors were offered limited wagering options due to absence of major sporting events globally in the face of the coronavirus pandemic.
Circa Sports is yet to announce a launch date for its online sports betting operation in Colorado.
bet365 Yet to Receive Colorado License
Following its partnership with Century Casinos, bet365 now needs to receive a license from Colorado regulators in order to be able to operate a sportsbook in the state that will be available across desktop and mobile.
The major online gambling operator needs to complete the necessary license application and approval process with the Centennial State in order to join the likes of DraftKings, FanDuel, and BetMGM in servicing Colorado sports fans.
Century Casinos said today that it has signed a 10-year agreement with bet365 that includes a minimum annual revenue guarantee and a percentage share of net gaming revenue that the betting operator must pay to the casino company every year. An advance fee was paid when the 10-year contract was signed.
Following its partnerships with bet365 and Circa Sports, Century Casinos now has one last Master License available for the operation of Internet sports betting.
Colorado is the second state bet365 is set to enter, should it win approval from local regulators. The company launched a digital sportsbook in the regulated New Jersey market last year through a partnership with Hard Rock Hotel & Casino Atlantic City.
In the fall of 2018, the major online betting and gaming company signed a 20-year partnership with Empire Resorts, the owner of Resorts World Catskills in New York. However, bet365 is yet to enter the New York sports betting market.