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
- On Monday, business leaders under the Business Twenty group made 22 policy recommendations for the G-20 group.
- Each recommendation fell into three key areas: empowering people, safeguarding the planet and shaping new frontiers.
Top business leaders say the global economy is facing its worst crisis in a hundred years, and “downside risks remain elevated” unless urgent reforms are enacted during the G-20 summit hosted by Saudi Arabia in November.
“The global economy is in its worst state in a century,” warned Yousef Al-Benyan, chairman of Business Twenty (B20), a group made up of high-level CEOs from around the world. “The challenging opportunity is to build back better, with real urgency required from policymakers and business leaders,” he added.
Business Twenty is an engagement group that seeks to represent the voice of the global business community across all member states and economic sectors in the Group of 20.
The group is urging G-20 leaders to undertake “bold and broad based” policy action to put the post-pandemic economic recovery on a stronger, more stable growth path. It said trade tensions, policy uncertainty, geopolitical strains and building financial vulnerabilities were key risks to the outlook, as societies and economies navigate the crippling impact of the coronavirus.
“As the economic recovery evolves over the next couple of years, downside risks remain elevated,” Al-Benyan said, raising concern about low productivity growth and rising inequalities.
“Business has its share of responsibilities to honor and a substantial role to play in building back an economy that is socially inclusive and environmentally sustainable,” he added.
Saudi Arabia will be the first country in the Middle East and North Africa region to host a G-20 summit. The event brings together the leaders of the largest economies of the world to address financial