Roar secures Colorado partner as state launches sports betting
Colorado expected to be a hugely competitive market due to its open-door policy for licensees and skins deals
Roar has secured a market access partnership with Midnight Rose Hotel and Casino to enter Colorado, as the state prepares to launch betting at 10am local time.
The operator will roll out its BetMGM brand in the Centennial State to go alongside its sportsbook in Indiana, Michigan, Mississippi, Nevada, New Jersey, and West Virginia.
Roar Digital CEO Adam Greenblatt said: “We look forward to offering Colorado sports fans the excitement and ease of betting with BetMGM and working alongside Midnight Rose Hotel and Casino to provide top class betting experiences in the state of Colorado.
“With a limited sports schedule currently, it’s the perfect time for new customers to learn how to use our feature-rich sports wagering product, ahead of the return of US sports,” Greenblatt added.
Colorado Gaming Commission director Dan Hartman said back in March the state would push ahead with its planned May launch and has since granted a handful of betting licenses.
Hartman previously said: “Our executive branch wants us to do business as close to normal as we can to move our stakeholders forward.
“So the administrative piece has to get done [and] we have to get licences out,” he said.
PointsBet, DraftKings and TheScore were among those granted early licenses back in March and April.
The state is expected to be hugely competitive thanks to its open-door policy for licensees, and will present an equal opportunity for market share among online products.
The regulator announced in April that betting license holders would be required to pay annual operating fees of $54,000, on top of a one-time license fee of $125,000. Tax on ‘net proceeds’ is set at a reasonable 10%.
Eilers & Krejcik Gaming estimates Colorado will generate around $300m in total sports betting GGR at baseline maturity, and that over 85% of that total will be derived from digital channels.