Las Vegas-based sports betting brand Circa Sports is branching out of the Nevada market.
The company announced Thursday that it had agreed to become an official internet sports betting operator for Colorado Springs-based Century Casinos, and will make its Colorado debut at the Century Casino Cripple Creek with a mobile sports betting app. The casino, located about 45 miles west of Colorado Springs, lies in one of only three Colorado jurisdictions that allow casinos.
Derek Stevens, CEO of Circa Sports, said in a Thursday press release that this partnership marks the first time the Circa Sports brand will operate outside of Nevada.
“We are excited to be at the forefront of sports betting in Colorado with our partners at Century Casinos,” Stevens said in the release.
The sports betting venture first launched at the D Las Vegas and Golden Gate, also owned by Stevens, last summer. Stevens’ Circa project, a 777-room hotel-casino slated to open in December, also will have a Circa Sports sportsbook.
Colorado voters narrowly approved legalized sports betting in November. The Colorado Division of Gaming is set to approve rules in February, and sports betting is expected to open up in the state on May 1.
The Circa Sports Colorado app will be available for remote download at that time, according to the release. Both Circa Sports and Century Casinos have submitted applications to obtain necessary licenses before May.
The 15-year sportsbook agreement between Century and Circa Sports includes a market access fee, a share of net gaming revenue and a minimum revenue guarantee to Century each year, according to a Wednesday press release from the casino operator. Century has two more master licenses available for additional sports betting partners in Colorado.
Other Circa Sports expansions may be on the horizon. The betting venture “intends to be a multi-state leader for sports futures and higher app limits,” according to the release.
Shares for international casino entertainment company Century Casinos, which owns and operators 10 casinos across the U.S., Canada and England, went down 1.1 percent Thursday morning to $8.70.