COLORADO SPRINGS, Colo., Oct. 12, 2020 /PRNewswire/ — Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) (“Century Casinos” or the “Company”), announced today that it has finalized an agreement with Tipico to become the company’s third internet sports betting operator partner in Colorado. The Company, through a subsidiary, has already obtained its master license with the State of Colorado. Tipico will complete the necessary application and approval process with the State of Colorado and will operate an internet and mobile sports betting application under the Tipico brand.
“Tipico is thrilled to partner with Century Casinos, a highly respected name in North American casino entertainment, to bring our fully mobile sports betting experience to Colorado and introduce sports fans throughout the state to our brand and proprietary technology,” said Adrian Vella, Managing Director, US Business, Tipico.
The online sportsbook operations agreement with Tipico is a 10-year agreement that includes a one-time market access fee being paid to the Company on contract signing, plus a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to the Company each year.
“We are very excited to be partnering with Tipico Sportsbook, one of the top sports betting companies in the world, and we look forward to a long and prosperous relationship. The Colorado Division of Gaming has done an excellent job launching Sports Betting and we believe Colorado will be an ideal market for Tipico as they continue their expansion and growth in the United States,” said Erwin Haitzmann and Peter Hoetzinger, Co Chief Executive Officers of Century Casinos.
The Company has already signed two other internet sports betting partnerships in Colorado with Circa Sports and bet365.
Tipico is a U.S. sportsbook originally founded in Europe in 2004. As the leading sports betting provider in Germany and one of
Unemployment insurance programs in Colorado and around the country are struggling with an unprecedented wave of fraudulent claims, something cybersecurity experts say numerous data breaches the past decade have made possible.
Self-employed workers seeking assistance have found their applications stalled or payments delayed because of tighter security. Already stretched thin, the Colorado Department of Labor and Employment has redirected its limited resources. And thousands of unsuspecting Colorado residents have had to spend hours trying to rectify the fallout from the scam after claims were made in their names.
“The issue is that anyone can fill out these applications and get paid in a couple of days. All the personal identifiable information they need is readily available on the dark web as a result of countless breaches,” said Tyler Moffitt, a security analyst at Webroot, a Broomfield-based cybersecurity company.
Software that spoofs Internet Protocol addresses allows scammers to hide their digital location and operate across state and national borders. Emails are easy to obtain and disposable. And although banks are supposed to know their customers, it remains too easy to set up an account and accept deposits under a stolen identity, experts say.
“This situation highlights how weak the verification process is, considering all the requirements can be bought. There isn’t a thorough enough process to verify people are who they say they are in an online form,” Moffitt said.
Since mid-July, the CDLE estimates it has blocked somewhere around 73,000 fraudulent claims seeking between $750 million to $1.25 billion in payments under Pandemic Unemployment Assistance, a new federal program designed to help self-employed and contract workers. As of Thursday, the labor department reported 162,454 Coloradans have applied for the PUA program files claims that have not been flagged fraudulent since the COVID-19 pandemic began. Just over 2,400 new PUA claims