PointsBet Going Big in Centennial State, Inks Deals with Three Colorado Pro Teams

Posted on: August 7, 2020, 12:06h. 

Last updated on: August 7, 2020, 01:12h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Extending what’s been a brisk stretch of activity in the US, PointsBet is solidifying its footprint in Colorado, saying it will become the official betting partner of three of the state’s professional sports franchises.

PointsBet Pacts With Three Colorado Pro Teams
Just in time for the Denver Nuggets playoff run, PointsBet becomes officially the betting partner of three Colorado pro teams. (Image: Denver Post)

In a statement released earlier Friday, Australia-based PointsBet said it’s entering into a multi-year partnership with Kroenke Sports & Entertainment (KSE) to become the exclusive gaming partner of the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, and the Colorado Mammoth of the National Lacrosse League. The agreement includes the Pepsi Center in Denver, the home arena for the Avalanche and Nuggets.

The agreement and exclusivity spans the entire gaming category, including retail and online sports betting, daily fantasy, the online casino, and free-to-play games,” said PointsBet.

Financial terms of the agreement weren’t disclosed. But as part of the deal, PointsBet is also becoming the official sports wagering partner of KSE’s Altitude TV and Altitude Sports Radio.

As part of that arrangement, those broadcasters will integrate PointsBet wagering data into pre-game and live broadcasts. Altitude TV is the local television network for the Avalanche and Nuggets.

Good Timing

PointsBet could be rewarded for its push into what some experts believe will be one of the West’s sports betting meccas after Nevada. The company had been positioning for the legalization of sports wagering in the Centennial State several months before it happened

Sports betting went live Colorado on May 1, with limited action for gamblers because of the coronavirus shutdown of domestic competitions and leagues. However, May and June handle data is encouraging, prompting insiders to say the future of sports wagering in the state is bright.

PointsBet is expanding in the state just after the NHL and NBA resumed their 2019-20 seasons, a relevant factor considering the Avalanche and Nuggets could make deep playoff runs.

PointsBet’s KSE deal doesn’t mention the Colorado Rockies, the state’s Major League Baseball (MLB) franchise. As for the NFL’s Denver Broncos, that team has similar agreements with BetMGM and FanDuel.

Busy Stretch

News of the KSE agreements extends a busy stretch for PointsBet in the US. Earlier this week, the company said it will act as the iGaming skin for Twin River Worldwide Holdings (TRWH) in New Jersey. That deal is contingent upon TRWH finalizing its $25 million purchase of Bally’s on the Atlantic City Boardwalk.

The operator’s New Jersey announcement arrived a day after it said it’s becoming the official gaming partner of the Indiana Pacers. It’s a deal that’s comparable to what the company is implementing in Colorado with the Nuggets.

The Pacers news coincided with PointsBet saying it will also offer retail sportsbooks at three off-track-betting locations in Hawthorne, Ill.

Combined, these announcements confirm PointBet’s expansion in multiple US regions across states that are among the fastest-growing sports wagering locations in the country.