In the state of Colorado, seven casinos active here have already applied for necessary master licenses which once obtained would give these facilities the ability to operate mobile, online and land-based sportsbooks and sports betting operations. According to one report from several days, ago released by The Denver Post newspaper, voters of the state of Colorado have approved a piece of legislation back in November which will see The Centennial State start offering sports betting activities as of May this year.
On the other hand, interested casino operators must obtain their master licenses so that they can open and operate on-site sportsbooks. These master licenses are also required for all venues which want to open such sportsbooks in order to contract with local and foreign partners for the running operations of mobile and digital sports betting services.
Colorado to Welcome Sports Betting
According to The Denver Post news outlet, the seven Colorado-based venues have applied for such licensing and these include Double Eagle Hotel and Casino, JP McGill’s Hotel and Casino, Midnight Rose Hotel and Casino, Central City’s Dostal Alley Casino, and The Brass Ass Casino located in Cripple Creek.
The receipts of a master license which is issued by the state’s regulatory body Colorado Limited Gaming Control Commission will enable these facilities to offer real-money wagers on a wide array of professional sports markets including very popular eSports. It was also revealed by The Denver Post that these venues which receive master licenses will be required to hand around 10% of their gaming revenues to the state of Colorado.
The same newspaper also reported that Monarch Casino Resorts Spa and Saratoga Casino located in the small city of Black Hawk have also applied for master licenses. According to the state’s legislators, the majority of them believe that bringing such activities to the state will enrich the state’s fund for at least $29 million every year.
Possible Obstacles
According to Buddy Schmalz who is Dostal Alley Casino co-owner, his facility is very interested in launching both a digital and a physical sportsbook, but he still has some decisions to make such as deciding upon partners. In his statement for The Denver Post, he said that in his opinion it is rather doubtful that Dostal Alley Casino will be ready to launch its sportsbook by the 1st of May and this also applies to launch its digital counterpart as both services require separate licensing issued by the Colorado Limited Gaming Control Commission.
He also added that at the moment, the state’s Gaming Control Commission is processing over fifty applications of this kind. According to The Denver Post, some bigger casinos in the state have already started laying the fundamental work for their mobile sports betting services. One of these facilities is Double Eagle Hotel and Casino that inked a business partnership back in July which will see the venue’s retail and online sportsbooks being operated by the PointsBet USA which is a subsidiary of Australia-based PointsBet Holdings Proprietary Limited.
Moreover, Century Casinos Incorporated inked a business deal with Circa Sports Colorado just last month. Several other operators have inked similar business deals including Twin River Worldwide Holdings Incorporated partnering with DraftKings Incorporated and FanDuel Group. Twin Worldwide Holdings Incorporated owns Golden Mardi Gras Casino, Golden Gates Casino, and Golden Gulch Casino.
