Betsson secures landmark US sports betting deal29th June 2020 11:04 am GMT
Stockholm-listed gaming operator Betsson is entering the US online sports betting market for the first time through a market access deal in Colorado with Dostal Alley Casino.
Betsson described the initial ten-year agreement as a “first and cautious step” into the US market that will provide key learnings, brand presence and an initial customer base.
“I am very excited to reach this milestone, further expanding Betsson's global reach by entering a new continent through the fast-growing online market in the US,” said Betsson chief executive Pontus Lindwall. “Dostal Alley Casino has more than 60 years of experience of doing business in Colorado and will play an important role in our journey to build US presence.
“The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices. We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook.”
Betsson will establish an office in Colorado as it looks to showcase the strength of its sportsbook in the United States, with a view to providing it as a B2B solution to customers in the future.
“As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the US as we partner with them for online sports betting in Colorado,” said Dostal Alley Casino chief financial officer CinDee Spellman. “With their decades of experience in online gaming we are confident that they will bring the very best experience to players in the Centennial State.”
Betsson expects to launch its proprietary sportsbook in the first part of 2021, after securing regulatory approval.
Shares in Betsson AB (STO:BETS-B) were trading down 0.76 per cent at SEK65.10 per share in Stockholm Monday morning.