Score Media and Gaming has launched its theScore Bet mobile sportsbook in Colorado under its Score Digital Sports Ventures subsidiary, following a market access agreement inked earlier in the year.
Obtaining approval from the Colorado Limited Gaming Control Commission in March, the green-light followed the firm securing a link-up with a subsidiary of US gaming operator Jacobs Entertainment.
Under the agreement, JEI will receive a percentage of revenue derived from theScore Bet’s mobile sports betting operations in Colorado, subject to certain annual minimum guaranteed amounts, and an initial upfront fee. The agreement spans an initial term of 10 years, extendable for two successive five-year renewal terms at theScore’s option.
JEI’s operations in the Centennial State include The Lodge Casino and The Gilpin Casino, both located in Black Hawk.
Furthermore, theScore Bet will continue a multi-state rollout with its upcoming launch in Indiana under its multi-state market access framework agreement with Penn National Gaming, pending regulatory approval.
“The passionate sports fans of Colorado are going to love theScore Bet and we’re thrilled to begin our multi-state rollout here, right in time for football season,” said John Levy, founder and CEO of theScore.
“The way we’ve uniquely fused media with gaming delivers a totally unrivaled product for fans, unlike anything else in market today. theScore is already the sports app of choice for a huge number of fans in Colorado, and we’re confident theScore Bet is going to quickly become their favourite sportsbook too.”
Last month online and retail sportsbooks in the region combined to generate $59.2m in wagers during the third month of operation, up 55.2 per cent from $38.1m in June, resulting in $2.4m in net betting proceeds, increasing 11.4 per cent from $2.2m in June, and producing $241,867 in state taxes.
Limited to online betting on fringe sports through June, Colorado’s sportsbooks had combined to take in $63.8m in wagers, yielding $3.1m in net proceeds, during the industry’s first two months.