Colorado Gaming Regulator Anticipated to Hand Out the First Sports Book Licenses
The Colorado Limited Gaming Control Commission, the gaming regulator of the state, is anticipated to hand away from the first few licenses for sports betting. The licenses will be given to seven casinos of the state, which will from thereon, have the legitimate heads up to regulate and govern the retail and internet sports betting.
In November 2109, Colorado was deemed as the 19th state to have legalized sports betting, offering all the citizens over 21, a right to bet over the sports events ranging from sports, leagues, tournaments. This has to be done via casinos of the state which have a legal permit or license to facilitate the betting. They will avail this facility for their customers digitally or on their gaming floor. The first operations for sports betting are believed to be up and running by 2020 May.
While waiting for the licensing application process to complete, some of the casino operators already entered into a partnership with sports betting companies to power up their sportsbooks and online apps. The initial deals were closed before the beginning of the application process, as the casinos from Double Eagle Hotel and Cripple Creek, allied for web sports betting portal PointsBet to enable the cooperative operations of online and retail activities of wagering.
In February 2020, the first casinos, including Dostal Alley Casino in Central City, Saratoga Casino, Monarch Casino Resort Spa in Black Hawk, Midnight Rose Hotel and Casino, McGill’s Hotel and Casino, and The Brass Ass Casino in Cripple Creek, are keenly waiting on the forthcoming meeting of regulators, to get their betting gaming master licenses soon.
The master license ratifies a casino to begin administering a real-time sportsbook and collaborate with companies to host activities of digital sports betting via desktop or mobile apps. According to the reports, over 50 state casinos have registered for the licenses ever since the application process started in the month of November.
In the month of January, the Black Hawk’s Saratoga Casino made a partnership deal on sports betting with the England based bookmaker, Betfred, in an endeavor to use the revenue streams that collectively come from brick-and-mortar as well as the online activities of sportsbooks.
In the month of February, Century Casinos, with the land-based facilities for gaming in Cripple Creek as well as the Central City, entered into a deal with Circa Sports, via Circa Sports Colorado LLC, which is a subsidiary of the firm. According to the terms of this company, Circa Sports will govern an online sportsbook across Colorado.
Thereafter, Twin River Worldwide Holdings announced a partnership with the Fantasy Sports along with the gambling firms FanDuel and DraftKings to administer a retail book for sports betting in Mardi Gras, while the two companies run the apps for sports betting in the state. Twin River earlier acquired 3 casinos of Colorado, including the Golden Gulch, Golden states, and Mardi Gras casinos of Black Hawk.