Sports betting operator Tipico will establish a 441-job technology hub in Denver, Colorado, the Colorado Office of Economic Development and International Trade (OEDIT) revealed on Wednesday. The average wage will reach $96,315, or 128% above the average annual wage in Denver, with specialists in technology roles in greatest demand. Cloud infrastructure, native and mobile app development, data engineering and software development are among the searched skills by Tipico in Denver.
Tipico Looking to Create Hundreds of Jobs in Colorado
Tipico expects to create hundreds of job opportunities over the next eight years, with the company currently operating a 42-person office in Hoboken, New Jersey. The sportsbook, which recently introduced its betting platform to the Centennial State, is moving quickly to compete with other companies in the industry that focus on both technological technologies as well as its wagering offering.
Commenting on this development, Colorado governor Jared Polis welcomed the company and pointed out that the Centennial State has been among the first to legalize sports betting as a driver of additional revenue and support for the recreational economy, as well as the state’s purse. “This move proves what we already know: Colorado is the best place to live and work, and 441 new jobs will be created in Colorado thanks to this voter-driven decision,” Jared added. He was joined by Colorado house speaker Alec Garnett, another proponent of sports betting, who said that he was excited to see Tipico call Colorado home, bringing new businesses and jobs and building a strong economy in the wake of the pandemic.
Governor Polish signed a bipartisan draft bill, House Bill 19-1327, into law in 2019 and the legislation officially kicked in on May 1, 2020. Since then, Tipico and PointsBet have been two of the companies to join in, with the state generating an estimated $65,962,159 in tax revenue according to an official press release in its first year of running legalized sports gambling.
Keeping up with Main Competitors in the Industry
Tipico is determined to continue on its growth trajectory, but to achieve this, the company will need to compete with DraftKings and BetMGM, two companies that have a strong tech hub and promote themselves as both tech and betting firms.
Tipico US CEO Adrian Vella said that the entire company was happy to have the opportunity and establish the technology cup in Denver. “From the world-class universities and collaborative technology community, down to the well-documented high quality of life in the state, every metric during our nationwide search pointed us right to Colorado,” Vella added.
Metro Denver Chamber of Commerce CEO J.J. Ament said that the city was happy to support Tipico in the establishment of its technological hub and further scaling its operations in the city and state. Colorado managed to win a race against numerous other states, including Georgia, Texas and North Carolina, all of which had applied for a chance to host the company’s development hub.