British sports betting and gaming company bet365 enters Colorado’s market as part of a pivotal strategic partnership with Century Casinos.
10-Year Agreement Signed Between Century Casinos and bet365
On May 19, Colorado-based operator Century Casinos announced a new partnership with sports betting giant bet365. Under the partnership, bet365 will be able to provide digital sports betting services for the state of Colorado. Century Casinos noted that this is a 10-year agreement. Under the agreement, a guarantee for minimum annual revenue is set as well as net gaming revenue percentage that bet365 needs to fulfil every year.
Before bet365 can start operating, the sportsbook needs to apply for a license from the state regulator. Upon receiving a license, bet365 will be able to offer services accessible both from mobile devices and PCs.
Colorado is not actually the first state in the US for bet365. Last year, the sportsbook entered the regulated market of New Jersey by teaming up with Casino Atlantic City and Hard Rock Hotel. Furthermore, bet365 signed a 20-year partnership deal with Empire Resorts back in 2018. Even though the agreement was already signed in 2018, bet365 is still awaiting to debut on the New York betting market.
Three Betting Master Licenses Won by Century Casinos
Century Casinos clearly has a good growth and development plan. Earlier this year, the operator signed a 15-year deal with Circa Sports Colorado LLP. The conditions, similar to the most recent deal with bet365, include minimum revenue guarantee per year, net gaming revenue percentage as well as market access fee. Then, in April, the operator announced that the Colorado Limited Gaming Control Commission approved three sports Betting Master Licenses allowing betting activities in Colorado. One of those Master Licenses was taken by Circa Sports Colorado LLC. Although bet365 needs to receive license from Colorado’s regulators, this still leaves Century Casino with one more Master License for internet sports betting in the state.
Elsewhere in Poland, the Century Casinos subsidiary announced earlier this week that casinos are preparing to reopen. Closed since March, due to the coronavirus (COVID-19) spread in the country, the eight casinos are ready to welcome visitors while following social distancing protocols and enhanced health measures. Century Casino Co-CEO Peter Hoetzinger commented on the exciting news: “We look forward to welcoming our guests and team members back to our Polish casinos.” He continued by saying: “This is a first but very important step to lead our company back to normal operations.”