COLORADO SPRINGS, Colo., Oct. 12, 2020 /PRNewswire/ -- Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) ("Century Casinos" or the "Company"), announced today that it has finalized an agreement with Tipico to become the company's third internet sports betting operator partner in Colorado. The Company, through a subsidiary, has already obtained its master license with the State of Colorado. Tipico will complete the necessary application and approval process with the State of Colorado and will operate an internet and mobile sports betting application 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, US Business, Tipico.
The online sportsbook operations agreement with Tipico is a 10-year agreement that includes a one-time market access fee being paid to the Company on contract signing, plus a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to the Company each year.
"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.
The Company has already signed two other internet sports betting partnerships in Colorado with Circa Sports and bet365.