- Legal States
Julie Moraine February 16, 2020 3 min read
Colorado Gaming Regulator Expected to Issue First Sports Book Licenses
The gaming regulator in Colorado, the Colorado Limited Gaming Control Commission, is expected to hand out the first sports betting licenses that will give seven of the casinos in the state the right to operate retail and online sports betting.
Barely Passing People’s Vote
Back in November 2019, after Proposition DD passed by a narrow win through the state referendum, Colorado became the 19th state to legalize sports betting, giving every person 21 or above the right to place a legal bet on sports events from a variety of sports and leagues, through one or more of the casinos in the state that is granted a license, either at their gaming floor or digitally, with first sports betting operations expected to go live by May 2020.
Seven Casinos Eagerly Await
Fast forward to February 2020 and the first seven casinos, among which Saratoga Casino and Monarch Casino Resort Spa in Black Hawk, Dostal Alley Casino in Central City, and Midnight Rose Hotel and Casino, McGill’s Hotel and Casino, the Brass Ass Casino in Cripple Creek, are eagerly expecting the upcoming regulator’s meeting, as they await to get their master licenses.
As the master license authorizes a casino to start operating a physical sports book as well as to get into partnership with a company to conduct digital sports betting activities through desktop and mobile apps, more than 50 state casinos applied for a license since the application process opened in November.
Partnerships To Utilize Industry Excellence
While waiting for the licensing application process to complete, some of the casino operators already entered into partnership deals with sports betting companies to power up their sports books and online apps.
The first deals were signed even before the application process began, as Double Eagle Hotel and Casino in Cripple Creek, in July, agreed with online sports betting platform PointsBet for the joint operations of retail and online wagering activities.
In January, Saratoga Casino in Black Hawk entered into a sports betting partnership deal with British bookmaker Betfred, looking to utilize revenue streams from brick-and-mortar and online sports books activities.
DraftKings And FanDuel
Later on, Twin River Worldwide Holdings, the company that has acquired three casinos in Colorado, the Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, announced deals with fantasy sports operators and sports betting companies DraftKings and FanDuel, where the former will operate a retail sports book inside Mardi Gras, in addition to both companies running sports betting apps in the state.
In February, Century Casinos who have land-based gaming facilities in Cripple Creek and Central City, signed an agreement with Circa Sports, through a subsidiary of the company, Circa Sports Colorado LLC, under the terms of which Circa Sports will operate a digital sports book in Colorado.
The meeting of the Colorado regulator that will deliver the news is taking place in the upcoming week.
With 4 years experience as an analyst, Julie—or ‘Jewels’, as we aptly refer to her in the office—is nothing short of a marvel-worthy in her attention to the forex and cryptocurrency space as she quickly became the first pick to co-pilot education to the masses with Mike.
Legal February 16, 2020
Legal February 16, 2020