Bet365 receives temporary Colorado sports betting license
Global betting and gaming operator cleared to enter Centennial State in partnership with Century Casinos
Bet365 has been awarded a temporary license to offer sports betting in Colorado by the Centennial State’s Limited Gaming Control Commission (LGCC).
The Stoke-headquartered gambling and betting goliath received unanimous approval from the LGCC’s five commissioners, with the temporary license slated to become a permanent one once mandatory background investigations into the firm are conducted.
No launch date has been confirmed for the bet365 sportsbook, which is the firm’s second in the US behind New Jersey.
Bet365 secured a 10-year agreement with local retail casino operator Century Casinos in May 2020, through a locally-based subsidiary, and will now become Century’s second internet sports betting operator partner in Colorado.
Under the terms of the agreement, bet365 will operate both an internet and mobile sports betting application under the bet365 brand.
The partnership includes a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to bet365 each year, with an advance fee being paid on contract signing.
In November, bet365 was one of a number of firms to miss out on a sports betting license in New York, after failing to qualify for a license as part of the Empire State’s highly stringent licensure process.
Colorado now has 26 licensed online and 17 retail sportsbook operators.
The state has attracted a number of high-profile operators including Betsson Group, Tipico, which is currently building a technology hub in the state’s capital Denver, and Maximbet.