Nasdaq-traded Century Casinos, Inc. announced today it entered into deal with German sports betting operator Tipico for sports wagering partnership in Colorado. Tipico becomes the third sports betting partner for the casino operator who already signed agreements with Circa Sports and Bet365.
Tipico Enters a Second State
The deal Century Casinos and Tipico signed is for 10 years and allows Tipico to launch sports betting operations in Colorado, subject to gaining necessary regulatory approvals. Colorado will be the second US jurisdiction for the German sports book provider after it had received a conditional approval to launch sports betting in New Jersey by the state’s Division of Gaming Enforcement (DGE).
“Tipico is thrilled to partner with Century Casinos, a highly respected name in North American casino entertainment, to bring our fully mobile sports betting experience to Colorado and introduce sports fans throughout the state to our brand and proprietary technology.”
Adrian Vella, Managing Director, Tipico US
Market Access in Colorado Pending License
Tipico will be granted market access in The Centennial State in exchange for a one-time market access fee payable to Century Casinos, a minimum annual revenue guarantee and a percentage of net gaming revenue payable on an annual basis.
“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. The Colorado Division of Gaming has done an excellent job launching Sports Betting and we believe Colorado will be an ideal market for Tipico as they continue their expansion and growth in the United States.”
Erwin Haitzmann & Peter Hoetzinger, Co-Chief Executive Officers, Century Casinos
The sports book operator utilizes its own technology to power its sports betting offering, but elected to deploy Scientific Games’ OpenGaming product suite for its online gaming products.
On a side note, Tipico was granted today one of the first licenses to operate online gaming in its native Germany. Alongside gambling operators like GVC Holdings, Bet365 and Admiral Sportwetten, Tipico was allowed to offer iGaming during the transitory period in the country until the New State Treaty on Gambling enters into force.