Century Casinos has secured an online sports betting partnership with German-based sportsbook provider Tipico, marking the company’s third sports gambling alliance with a sportsbook operator in the Centennial State.
The partnership is a 10-year agreement that includes a one-time market access fee, as well as a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to Century Casinos each year. The company owns and operates two Colorado casinos — Century Casino & Hotels in Cripple Creek and Central City. Previously, Century Casinos signed two other internet sports betting partnerships in Colorado with Circa Sports and bet365.
“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. We believe Colorado will be an ideal market for Tipico as they continue their expansion and growth in the United States,” Century Casinos CEOs Erwin Haitzmann and Peter Hoetzinger said in a statement.
Contingent on regulatory approval
Founded in Europe in 2004, Tipico is widely regarded as one of the most prominent sportsbooks in Germany. Tipico Group Ltd. employs over 1,800 people worldwide and another 4,200 people working in the Tipico associated franchise network, according to a press release announcing the partnership.
While Tipico has U.S. headquarters in Hoboken, N.J., and has a license to conduct business operations in New Jersey, the company has yet to complete the requisite application and approval process with the Colorado Division of Gaming. The company plans on filing an internet and mobile sports betting application under the Tipico brand.
“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,” said Adrian Vella, managing director of Tipico’s U.S. business, in a statement.
As of Oct. 13, a dozen mobile platforms have gone live across Colorado, including BetMGM, BetRivers, DraftKings, and FanDuel. All four companies launched mobile platforms on May 1, the first day of legalized sports betting in the Centennial State.