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Colorado approves first sports betting licences


Colorado’s gambling regulator, the Limited Gaming Control Commission, has approved seven licences and the state’s regulations for sports betting.

The seven casinos to receive master licenses are Monarch Casino and Saratoga Casino in Black Hawk, Dostal Alley Casino in Central City and Double Eagle Hotel & Casino, J.P. McGill’s Hotel & Casino, Midnight Rose Hotel & Casino and Brass Ass Casino in Cripple Creek.

Each licence allows for both retail sports betting and one online betting skin. Applicants for licenses must pay a $10,000 application fee before applying plus a $125,000 licence fee if approved.

Triple Crown Resorts operates Brass Ass, JP McGill’s and Midnight Rose.

The Betfred USA Sports arm of bookmaker Betfred agreed a deal in January to offer sports wagering services at the Saratoga Casino, while Australian operator Pointsbet has secured a partnership with the Double Eagle Casino.

Wynn Resorts and theScore agreed deals with Full House Resorts and Jacobs Entertainment Inc. (JEI) respectively, but neither of these operators have been granted a license to date. Both DraftKings and FanDuel have agreed deals with Twin River, who recently acquired three casinos in the state, but have also not yet been approved for a license.

Colorado’s rules for sports betting passed with some minor amendments. The amendments include removing section 8.4, which had given the Commission director the power to stop operators from using certain data sources on a case by case basis.

The changes also clarify that the regulations do not these rules shall not supersede any federal or state laws and increase the minimum value of a dispute of which a licensee must notify the regulator.

The regulations create a sports betting tax of 10% and an annual sports betting operation fee, which has not yet been set.

Colorado Governor Jared Polis signed off a bill to legalize sports betting in the state back in May, but the measure had to be put to voters in order to come into effect.

In November last year, Proposition DD secured 51.1% of the vote, with a total of 756,720 people voting in favour of legalizing sports betting, and 723,665 against.