Global sportsbook operator Tipico announced Monday a new multi-state market access partnership agreement with Caesars Entertainment. The 10-year-deal has a 10-year renewal term, and includes immediate state access for Tipico to launch an online sportsbook in Indiana and Iowa, pending state licensing and approvals.
Under the terms of the agreement, Tipico will partner with Harrah’s Hoosier Park Racing & Casino in Indiana; and Isle Casino Hotel Bettendorf in Iowa, with plans to expand to additional states in the future. The deal also includes iGaming market access rights, following legislative approval for online casino operations in each state. The company expects to launch their mobile sports betting app in Iowa during the fourth quarter of 2021, and Indiana in the first quarter of 2022. Tipico will also launch an online casino product in New Jersey this fall, and anticipates the announcement of additional state market access agreements before the end of this year.
In an official press release, CEO of Tipico US, Adrian Vella, spoke about this new partnership and commented: “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 mid-west, and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa”.
Tipico’s VP of Business Development and Strategy, Stephen Krombolz, added: "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."
Tipico Sportsbook is currently live in Colorado and New Jersey. This partnership with Caesars is the latest in a series of recent advances in the United States for the German company, and comes at the heels of the Gannett partnership, announced in July, which granted the company exclusive access to the power of the USA TODAY NETWORK, with more than 250 daily local sites; and its USA TODAY Sports Media Group, including in-depth USA TODAY Sports coverage across the country.
Tipico also recently announced its intention to open a technology hub in Denver, Colorado, which will bring hundreds of jobs to the area to support the company’s growth.