Betsson To Enter U.S. Market with Colorado Casino Deal

Betsson To Enter U.S. Market with Colorado Casino Deal
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A European online gaming company will enter the Colorado sports betting market by partnering with a Central City Black Hawk casino.

Betsson, headquartered in Stockholm, has entered into a 10-year agreement with Dostal Alley Casino, according to a news release. The deal not only gives the company access to one of the top emerging markets — Colorado — but it also will be Betsson's first entry into the growing U.S. sports betting market.

RELATED: More about Colorado sports betting and gaming

"I am very excited to reach this milestone, further expanding Betsson's global reach by entering a new continent through the fast-growing online market in the U.S.,” Pontus Lindwall, CEO and president of Betsson, said in a news release.

The launch for Betsson’s sportsbook is targeted for the first part of 2021 after regulatory approval from the state. The company, listed on Nasdaq Stockholm, said it plans to grow in new regulated sports betting markets, according to the release, and will operate an office in Colorado.

Dostal Alley is a family owned casino and brewery in Gilpin County, according to its website.

“As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the U.S. as we partner with them for online sports betting in Colorado,” CinDee Spellman, chief financial officer of Dostal Alley Casino, said in the release.

Betsson hopes to showcase its sportsbook in Colorado and then look for more U.S. customers, the release said. Lindwall said that Dostal Alley Casino experience in the Colorado market will play an important role in building the gaming company’s U.S. presence.

“The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices,” Lindwall said. “We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook."

Colorado Off to Strong Sports Betting Start

Colorado legalized sports betting in November when voters passed a referendum. The state already had a rich gambling history with 33 casinos in the western part. The vote expanded the market to include sports betting.

On May 1, BetMGM, BetRivers, DraftKings and FanDuel were the first four online sportsbooks to launch their apps. They have since been joined by BetMonarch (Monarch Casino Resorts), FOX Bet and SBK as state-licensed sites. The market got off to a strong start, with a total handle of $25.5 million in the first month despite most sports being shut down.

The SBK launch was a milestone for Smarkets, a United Kingdom-based betting exchange that developed the app. It was the U.S. debut for its platform after partnering with casino operator Full House Resorts last year, according to a news release.

In addition to the top Colorado online sportsbooks launching, Saratoga Casino Black Hawk accepted the first retail sports bet on June 17 at its sportsbook, which is operated by Betfred USA. Casinos, which had been closed since mid-March, began reopening in the state on June 15.

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