PointsBet Launching in Colorado With Double Eagle Casino

PointsBet Launching in Colorado With Double Eagle Casino
© USA Today

When PointsBet announced over the summer that it planned to open its second U.S.-based headquarters in Denver, one of the world’s leading sportsbook operators was taking a little bit of a gamble. The company was planning to move into the state while sports betting was not yet legal in Colorado.

Moreover, PointsBet’s downtown Denver hub, which serves as PointsBet USA's western base of operations, opened last month before residents even had a chance to vote. The office will focus on creating product innovations and advancing technology recruitment.

It turns out the brain trust at the Australia-based company was making a pretty sharp bet because Colorado voters ultimatedly approved online and brick-and-mortar sports betting in the Nov. 5 election, a move that should ultimately bring legal sports wagering to the state as soon as May 2020.

Double Eagle Partnership Shrewd

The company was equally smart with its decision to advance a multi-year partnership with Double Eagle Hotel and Casino, one of Colorado's leading casino and hotel destinations. The company is now positioned to hit the ground running to launch retail and mobile sportsbook operations in Colorado.

PointsBet and the Double Eagle Hotel and Casino are set to build a multi-faceted sports entertainment venue in Cripple Creek, Colorado, and their early partnership should only bolster the two companies ability to begin working on satisfying whatever requirements come down the line from state regulators as the state moves toward implementation.

Colorado Poised for Big Betting Business

PointsBet didn’t necessarily need Colorado voters to approve sports betting in the state for the company to justify putting an office in Denver. The city has a robust software engineering community, but it certainly won’t hurt PointsBet that sports betting is legal.

Colorado has an affluent and educated population that should help the U.S. sports betting market continue to grow. After all, more legal bets were placed at U.S. sportsbooks than ever before in September, and that number should only continue to grow every year as more states legalize sports betting.

While the state likely won’t challenge Nevada or New Jersey for U.S. gross handle supremacy anytime soon, it could still ultimately become one of the biggest sports betting markets on a per capita basis. After all, Colorado will have nearly three dozen casinos offering sports betting both online and in-person when the market launches next year.

For a company like PointsBet, which just recently announced an $84 million capital campaign to help with its U.S. expansion plans, moving into Colorado at just the right seems likely to pay huge dividends


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