porttrade, a Philadelphia-based sports betting fintech platform, announced on Wednesday the acquisition of Momentum Sports and Entertainment, a Colorado-based betting operator. Through the acquisition, players in Colorado will be able to place bets through the Sporttrade iOS app, which will launch in the first half of 2022.
Momentum Sports owns and operates an internet sport betting operator license through a market access agreement with GF Gaming and its local affiliate Easy Street Casino. Sporttrade's Colorado sports betting license will now be held by Easy Street Casino.
The Founder and CEO of Sporttrade Alex Kane, said: "We are pleased to announce launch plans in Colorado, a state that has been an early believer in the growth and potential of legalized sports betting with thriving fan bases across multiple professional and college sports teams. Our team looks forward to expanding our presence across the US while continuing to refine our sports betting exchange to provide Sporttrade's passionate user base with a secure, transparent, and technologically advanced platform from which to wager."
The Founder of Momentum Sports Dan Kelliher, commented: "Momentum Sports was founded to generate community-focused economic growth. With Sporttrade's unique sports betting model, they are the only sports betting platform that provides a true capital market experience to their customers and we are proud to transition our gaming license to Sporttrade to serve Colorado's growing sports betting community and to continue to evolve the industry."
Roger Brown, General Manager & Director of Gaming Operations at GF Gaming, added: "Easy Street Casino is thrilled to partner with the Sporttrade team as they make their way into the growing Colorado sports betting market. Together, we will pave the way for eager sports fans in Colorado to participate in a new and exciting way to wager online.”
Sporttrade's expansion into Colorado follows its recent announcement of a $36 million fundraise.