Tipico has a home in the Centennial State after partnering with Century Casinos to launch its mobile betting app. The German sportsbooks agreed to a 10-year deal with Century Casino, located in Colorado Springs, as the mobile betting app will launch under the Tipico brand.
“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,” said Adrian Vella, Managing Director of US Business at Tipico.
Along with the 10-year agreement, Tipico will pay a one-time market access fee upon signing. They will also receive a minimum annual revenue guarantee, along with a percentage of net gaming revenue.
Tipico is now launching in its second U.S. state thanks to the Century Casinos partnership. Originally launching in New Jersey last month, Tipico now sees Colorado as an ideal state to expand in the U.S.
The partnership with Century Casino will be 10-years as Tipico will have a retail location in Colorado Springs and launch a sports betting app in the Centennial State. Tipico will pay Century Casinos a one-time fee due to accessing the Colorado sports betting market.
Tipico will also receive a minimum revenue guarantee along with a net gaming percentage annually. This will guarantee that Tipico receives a cut of the profits Century Casinos makes off sports betting.
“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.
Century Casinos also has partnerships with Circa Sports and Bet365, so partnering with Tipico shows the potential of what the German sportsbook could do in the U.S.
Colorado Springs is home to over 400,000 people, and thousands more visit the city each year. The partnership between Tipico and Century Casinos should help boost revenue with a sportsbook from a reliable overseas brand.
Can Tipico Succeed in Colorado?
Tipico did not wait long to launch its mobile sports betting app in multiple U.S. states. Last month, debuted in New Jersey while also putting their U.S. headquarters in Hoboken.
Just a little over two weeks later, they partnered with Century Casinos to launch in Colorado. Some sports have tried to establish a customer base in one state before branching out, but Tipico feels confident expanding in the U.S. before they have a solid footing in the market.
Tipico is one of the most popular sports betting brands in Germany and Austria with over 1,200 locations. Similar to William Hill and Bet365, Tipico will try to become another international brand to compete in the U.S. market.
Colorado and New Jersey are also strong states to start in with the demand they see with sports betting along with state friendly regulations for sportsbooks to enter in. Tipico could see a decent share of the betting market in its first year in the U.S.