In the western American state of Colorado and seven casinos have reportedly applied for master licenses that will give them the ability to operate land-based, online and mobile sportsbooks.
According to a Saturday report from The Denver Post newspaper, voters in ‘The Centennial State’ approved legislation in November that is due to see statewide sportsbetting go live from the first day of May. Having a master license is necessary for any venue subsequently hoping to open an on-site sportsbook or contract with partners for the running of digital and mobile counterpart services.
The Denver Post reported that the seven venues include JP McGill’s Hotel and Casino, Double Eagle Hotel and Casino, Midnight Rose Hotel and Casino and The Brass Ass Casino in the small city of Cripple Creek as well as Central City’s Dostal Alley Casino. The receipt of a license from the Colorado Limited Gaming Control Commission will purportedly enable these venues to offer wagers on a wide range of professional sports including eSports in exchange for agreeing to hand over 10% of their associated revenues to the state.
The newspaper reported that Saratoga Casino and Monarch Casino Resort Spa in the tiny city of Black Hawk have also applied for such licenses while the state is hoping sportsbetting will enrich its coffers to the tune of around $29 million each year so that it can better fund its water plan.
Buddy Schmalz, co-owner of Dostal Alley Casino, reportedly told The Denver Post that his venue is interested in launching both a physical sportsbook alongside a digital counterpart but has yet to decide upon a partner. However, he purportedly explained that it is doubtful whether either will be ready to go live by May 1 as both services require their own separate licenses with the Colorado Limited Gaming Control Commission is currently processing some 50 applications.
Schmalz reportedly told the newspaper…
“My guess is it’s really tough given the time frame and whoever we partner up with.”
The Denver Post additionally reported that some larger Colorado casinos have already begun laying the groundwork for a digital sportsbetting service including Double Eagle Hotel and Casino, which inked a deal in July that is to see the PointsBet USA subsidiary of Australian online bookmaker PointsBet Holdings Proprietary Limited run both its retail and online sportsbook.
The newspaper reported that this was followed earlier this month by local casino operator Century Casinos Incorporated agreeing an alliance with the Circa Sports Colorado app while Twin River Worldwide Holdings Incorporated, which owns Black Hawk’s Golden Gates Casino, Golden Mardi Gras Casino and Golden Gulch Casino, has a similar arrangement in place with FanDuel Group and DraftKings Incorporated.