British Bookmaker Bet365 Gains Entry into Colorado Market with Century Casinos

British Bookmaker Bet365 Gains Entry into Colorado Market with Century Casinos

A new partnership with local casino giant Century Casinos will help British bookmaker Bet365 gain entry into the Colorado sports betting market. The casino giant is currently busy reopening its Polish properties.

A suitable partnership for Bet365

Century Casinos announced on Tuesday that it has entered a new partnership with Bet365, a British bookmaker., In a 10-year agreement, the bookmaker will provide its digital sports betting services to the Casino’s Colorado-based properties. They have also set a guarantee for minimum annual revenue and net gaming revenue percentage that the British company has to fulfill each year.

British Bookmaker Bet365 Gains Entry into Colorado Market with Century Casinos

Bet365 has to apply for a license from the state regulator before it starts operating its sportsbooks in the state. Once they have a license, their services will be available on both PCs and mobile devices. The bookmaker is trying to create a strong space for itself in the US markets, ever since the US Supreme Court struck down PASPA a little less than 2 years ago.

It already has a presence in New Jersey, one of the largest sports betting markets in the country. There, it has teamed up with Hard Rock Hotel and Casino Atlantic City. Bet365 also signed a 20-year deal with Empire Resorts in 2018. However, the company is yet to gain access to the New York betting market.

Century Casinos dominates the Colorado market

The Colorado betting market is dominated by Century Casinos. The company signed a 15-year deal with Circa Sports earlier this year, which included a minimum revenue guarantee per year as well as net gaming revenue percentage and a market access fee. Later, it received three sports betting Master Licenses from the Colorado Limited Gaming Control Commission. One of the Master Licenses is also held by Circa Sports. Even if Bet365 takes a license, Century will still have one more Master License.

The company’s stock jumped this week after it announced the reopening of its Polish casinos. The properties have been closed since March due to the coronavirus pandemic. Now, eight of Century properties are reopening following enhanced health and security protocols. Company CEO Peter Hoetzinger commented on the reopening and said, “We look forward to welcoming our guests and team members back to our Polish casinos. This is a first but very important step to lead our company back to normal operations.”

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.