Saratoga Casino Black Hawk teams up with British sportsbook Betfred’s USA subsidiary to set-up shop for the companies in Colorado, which has recently legalized its sports betting industry.
Betfred Enters Colorado with Saratoga Partnership
Betfred has secured a landmark deal in the United States through its local subsidiary, Betfred USA. The company has teamed up with Saratoga Casino Black Hawk for an entry in the state of Colorado, which just legalized sports betting in the state back in November, 2019.
With the deal still pending approval from regulators, Betfred can use the partnership as a good stepping stone into the U.S. market which is bound to hit historic highs, becoming the second busiest sports betting market by 2030 – second to only China.
In November, voters narrowly agreed to a constitutional reform that allowed Colorado to enact sports betting laws. The move for legalizing sports gambling gathered 51.1% of the total vote. Speaking on the occasion of the new partnership, Saratoga Casino Black Hawk President Daniel Gerrity had this to say:
“We are excited to have Betfred as our sports wagering partner; with over 50 years of international experience in the industry, it’s a great opportunity to leverage their expertise along with the Saratoga brand to become the market leader in sports wagering in Colorado.”
He was joined by Mark Stebbings who also expressed his satisfaction with the development, calling it an exciting opportunity for both companies to take a full advantage of expanding their presence in the market. In Mr. Stebbings words, Betfred is absolutely delighted to have the opportunity to work with an established local operator.
Betfred’s U.S. Ambitions Unflagging
Betfred is also not new to the United States as he has been expanding there even before May 2018, when the federal ban known as PASPA was struck down to make way for each state to decide on its own sports betting future.
In addition, Betfred has been tinker with its C-level executives to create a strong management team capable of pushing the brand into new markets and establishing them there firmly. AGS’s Bryan Bennet made the switch to Betfred back in November around the same time Colorado gave the green light to state lawmakers to get the betting framework setup.
Back in October, 2018, Betfred hired SCCG Management, a company out of Las Vegas, to help the British sportsbook establish a more tangible presence in the U.S. and specifically focus on the B2C segment.
Colorado is yet to launch sports betting with the industry expected to go live in the summer. Recently, the state’s regulator said that it had received 50 bids for the 33 available sports betting licenses it can issue legally.