Partnership deals, mergers and acquisitions are a common occurrence in the U.S. sports betting, with no signs of slowing down soon. Tipico Sportsbook and Caesars Entertainment are the latest conglomerates to reach a deal.
Details of the deal between Tipico and Caesars
The deal between Tipico and Caesars is scheduled for ten years, and it will be for the Indiana and Iowa sports betting markets. Tipico will be able to launch a sportsbook in both states because of a partnership with Caesars properties in each state.
In Indiana, Tipico secured market access through a partnership with Harrah’s Hoosier Park Racing & Casino. In Iowa, the sportsbook partnered with Isle Casino Hotel Bettendorf. The deal includes sports betting and access to the iGaming market, which is turning into a massive segment of the gambling industry.
Tipico U.S. CEO Adrian Vella was quoted in a press release following the deal earlier this week. He said, “We are excited to announce Tipico’s multi-state market access partnership with Caesars Entertainment, which marks an important step as we continue to expand our U.S. footprint. We look forward to establishing our brand presence in the midwest and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa.”
Tipico will launch the sportsbook in Iowa during the fourth quarter of 2021. The Indiana platform will be on hold until the first quarter of 2022. The sportsbook is currently live in Colorado and New Jersey, so it will be in four states by 2022.
Tipico executives have already announced the plan to continue growing in the United States market. America is very lucrative, and the industry is still young, so this is a typical plan amongst international books.
Stephen Krombolz, Tipico’s VP of Business Development and Strategy, was also quoted in the press release. He said, “This new market access agreement with Caesars Entertainment is another exciting step forward for Tipico as we continue to connect with more U.S bettors. Indiana and Iowa are key states in our early expansion plans, but there is certainly more to come, and we look forward to announcing additional partnerships later this year.”
Aggressive expansion for Tipico
Tipico, which is based out of Germany, has made multiple big deals in the United States since entering the market. In July, the sportsbook partnered with Gannett, the company that owns USA Today and USA Today Sports Media Group.
This gave Tipico exclusive access to the content to promote its platform. This deal was established for five years, and it made the sportsbook the exclusive partner for odds, props, free games, and iGaming.
Tipico launched in Colorado on Thursday, so it has been an exciting week for the platform. The book went live for the first day of the NFL season and offered a $750 deposit match to new users in the state. “Captivating users and elevating their betting experience is at the core of Tipico’s development and growth plan, and we’re proud of the capabilities that our app and our proprietary technology stack offers”, Vella stated.
The next launch for Tipico will be its online casino platform in New Jersey later in the fall.