Colorado Sports Betting Licenses Granted Ahead of May Launch

Colorado Sports Betting Licenses Granted Ahead of May Launch
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Regulators in Colorado granted eight more legal sports betting licenses on Thursday as the state heads toward its planned May 1 launch date. Among the approvals granted in Colorado were licenses for the state’s first digital and retail sportsbooks, according to a report in the Denver Post.

it was the second wave of applicants approved for licensing by the Colorado Limited Gaming Control Commission; the first seven came in February. The state had more than 50 applications to sort through as Colorado legal sports betting has a launch planned in less than two months. All signs point toward the state hitting the ground running.

That's a good sign for the upcoming Colorado sports betting, a nascent scene that was barely approved in a referendum in November 2019. The measure won via late votes counted from the Denver area after a poorly worded referendum almost tanked the legal sports betting measure despite the vast bipartisan support it had received from lawmakers on its way through the legislature.

Regardless, legal and state-regulated sports betting is on its way in Colorado, and the latest approvals in the state granted DraftKings, theScore and others a path toward successful launches.

DraftKings Primed for Success in New Market

DraftKings was approved for two licenses, for both retail and online sportsbooks in Colorado. Overall, that gives the Boston-based industry leader its sixth digital market in the U.S., following New Jersey, Pennsylvania, West Virginia, Indiana and New Hampshire.

Additionally, DraftKings has retail locations in those states as well as Mississippi, Iowa and New York. It will have both in Colorado starting May 1 through its partnership with Twin River Worldwide Holding. Its retail sportsbook will be at Mardi Gras Casino in Black Hawk, about 35 miles from Denver.

”DraftKings is excited to receive our temporary license from the Colorado Division of Gaming and looks forward to soon being able to provide sports fans in Colorado with our top-rated mobile and online sportsbook product,” said R. Stanton Dodge, DraftKings’ chief legal officer, in a statement per the Denver Post.

Important Colorado Licenses for theScore

TheScore was granted licenses that will give the hybrid sports content and betting app market access for its full product in Colorado. The company plans to launch its theScore Bet app over the coming months.

TheScore is a popular sports news and content app that provides highly personalized live scores, news, stats, and betting information to over 4 million users. TheScore Bet builds on that functionality by additionally providing some users access to its digital sportsbook service from within the same app. The company intends to add Colorado to its existing theScore Bet functionality in New Jersey.

Additionally, Colorado regulators approved theScore for vendor major and vendor minor licenses, which essentially allows the company to enlist ancillary services for marketing, operational solutions and technology.

Other Licenses Approved in Colorado

Three more Colorado casinos were granted master licenses on Thursday. Ameristar Casino, Lady Luck Casino and Isle Casino Hotel in Black Hawk were added to the seven previously approved Colorado casinos in the state for master licenses.

Additionally, Global Payments Gaming Services Inc. was approved for vendor major and vendor minor licenses.