DraftKings Gets Temporary License To Launch Sports Betting In Colorado

March 9, 2020
DraftKings Gets Temporary License To Launch Sports Betting In Colorado March 9, 2020 Fantasy Sport

coloradoResidents in Colorado have waited for a long time to get access to legalized sports betting. They will not have to wait much longer as May 1 is the big day.

While sports bettors are eager to start placing their bets, a number of betting operators in Colorado and working hard to be ready for the May 1 launch.

The state’s Limited Gaming Control Commission has issued another set of licenses for those who want to enter the Colorado gaming market. One of the beneficiaries is DraftKings, which marks its entry into what is looking like a crowded market.

The fantasy sports giant was granted a temporary license to operate in the state. They will be working with Twin River Worldwide Holdings, who they partnered with in January, to make a mark on the Colorado betting market. DraftKings Chief Legal Officer R. Stanton Dodge was quite happy that the company received a temporary license and confirmed that the company will look to provide the best product available for Colorado sports fans.

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Last week saw the approval of many of the pending sports betting licenses. The state received 50-plus applications who wanted to enter the state’s betting market and the commission is trying its best to shortlist and reduce them to a manageable number. This is why the state’s gaming regulator held a meeting on March 5 to move forward with the shortlisting process at the earliest.

Dan Hartman, Director of the Gaming Enforcement Division at the Colorado Department of Revenue said that while investigators complete background checks on license applicants, the regulator will be calling them in for a special meeting so that they would review their applications. The state initially announced that only 33 retail and online sports betting licenses would be issued. The influx of applications has made the competition for each license a close one.

DraftKings Continues Expansion

The DraftKings brand has been in expansion mode as it looks to establish itself as a premier player in the sports betting market across the country. Ever since PASPA 1992 was repealed by the Supreme Court, the company has been branching out and expanding its DraftKings Sportsbook brand. This is the sixth state that the company has expanded to.

The company’s local partner, Twin River will help DraftKings set up a betting app which will be available all over Colorado. DraftKings will also set up a retail sportsbook at Twin River’s Mardi Gras Casino in Black Hawk.

Some of the other recipients of the temporary license were Score Digital Sports Ventures, while Ameristar Casino, Lady Luck Casino and Isle Casino Hotel in Black Hawk received master licenses.

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