Tipico to Enter Colorado with Century Casinos Betting Deal

Tipico to Enter Colorado with Century Casinos Betting Deal
© USA Today

Bookmaker Tipico, the leading sports betting provider in Germany, has struck a deal with Century Casinos to provide online sports betting services to its Colorado casinos.

For Century Casinos — which operates casinos in Cripple Creek and Central City, Colorado — this will be the company’s third internet sports betting partner in the Colorado sports betting market. Century has already signed two other internet sports betting partnerships in the state with Circa Sports and bet365.

CHECK OUT: Top sportsbooks in Colorado

For Tipico, with an international footprint in sports wagering, Colorado is its second foray into the emerging United States sports betting market. Tipico was recently licensed in New Jersey where it is a partner with Ocean Casino and Resort in Atlantic City (formerly Revel). Also in New Jersey Tipico has partnered with NetEnt to provide online casino games, both slots and table games.

In Colorado, Tipico will complete the necessary application and approval process with the state in order to operate an internet and mobile sports betting application under the Tipico brand, according to a news release.

“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,” Adrian Vella, managing director, U.S. Business, Tipico, said in the news release.

A 10-Year Deal

The agreement between Century Casinos and Tipico is a 10-year agreement deal that includes a one-time market access fee being paid to Century on contract signing, plus a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to Century each year.

“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. The Colorado Division of Gaming has done an excellent job launching sports betting and we believe Colorado will be an ideal market for Tipico as they continue their expansion and growth in the United States,” said Erwin Haitzmann and Peter Hoetzinger, co-chief executive officers of Century Casinos, in the news release.

Tipico Group Ltd. employs over 1,800 people worldwide and another 4,200 people working in the Tipico associated franchise network. In the U.S., Tipico has established operations and business headquarters in Hoboken, New Jersey.

Colorado Sports Betting is Booming

Colorado’s sports wagering market, with both retail and online betting, has enjoyed robust growth since sports betting started there in May 2020.

The August sports betting handle was $128.64 million — more than the $123.5 million combined in the first three months of legal sports betting — among Colorado’s more than 20 online and retail sportsbooks, according to figures released last month by the Colorado Department of Revenue.

So far in Colorado, almost all of the sports wagering has been online as opposed to retail. Mobile sports betting handle at Colorado sportsbooks was $126.7 million in August handle, or 98% of all sports wagering in the state. That ratio may change somewhat when patrons are more comfortable going to bricks-and-mortar casinos but clearly online sports betting is likely to remain dominant.

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