Century Casinos has rolled-out a new partnership with Circa Sports Colorado as the firm prepares to enter the internet sports betting market within the region.
Undertaken via a subsidiary of Circa Sports, applications have been submitted within the state to obtain the necessary licenses prior to May 1, 2020. The Circa Sports mobile sports betting app will operate in association with one of the Colorado master licenses for sports wagering held by the company’s subsidiaries.
The cooperation agreement represents an initial 15-year link-up that includes a market access fee, a share of net gaming revenue and a minimum revenue guarantee payable each year.
Century Casinos has two further master licenses available for sports betting partnerships within the region, with this first app expected to launch in a little under three months.
Circa Sports’ Century Casinos link-up follows decisions made in November 2019 when Colorado voters approved Proposition DD, ratifying state legislation approving sports wagering throughout the states. Rules are expected to be approved by the Colorado Division of Gaming in February 2020 and sports betting is expected to begin on May 1, 2020.
“We are excited to be at the forefront of sports betting in Colorado with our partners at Century Casinos,” said Derek Stevens, CEO of Circa Sports. “Colorado has proven to be an ideal place to mark the official expansion of Circa Sports outside of Nevada with its pro-growth regulatory environment. Furthermore, the Colorado Division of Gaming has done an excellent job to ensure a seamless application and launch process.”
Colorado headquartered Century Casinos took its global property portfolio to 18 recently, adding 7,185 gaming machines and 285 table games, after partnering with Vici Properties to gain three purchases from Eldorado Resorts.
Securing the operations of Missouri’s Isle Casino Cape Girardeau and Lady Luck Caruthersville as well as West Virginia’s Mountaineer Casino, Racetrack and Resort for $107m, the real estate investment trust acquires the land and real estate assets of each for $278m.