Sports betting exchange operator Sporttrade has announced its acquisition of Colorado-based Momentum Sports and Entertainment Inc allowing it to expand into the state.
Momentum Sports, which is also a sports betting supplier, holds a sports betting operator license through its market access agreement with GF Gaming and its affiliate Easy Street Casino.
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.
“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,” said Alex Kane, founder and CEO of Sporttrade.
“Our team looks forward to expanding our presence across the U.S., 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.”
In June, Sporttrade raised $36m in funding through investors, part of which was said to go towards acquisitions and expansion. This began with Sporttrade’s deal with Twin Rivers in August 2020.