Score Media and Gaming Inc has cleared the initial step this week in the licensing process that will allow it to offer its sports wagering services in Colorado. The Colorado Limited Gaming Control Commission has granted the firm’s subsidiary, Score Digital Sports Ventures Inc, a temporary Internet Sports Betting Operator license.
Receipt of this temporary license is, said the firm, the first step of a multi-stage regulatory approval process which must be satisfied before the company may offer wagering on theScore Bet in the state.
theScore secured market access to offer mobile sports betting in Colorado via its previously announced agreement executed in January with a subsidiary of US gaming operator Jacobs Entertainment Inc (JEI). It anticipates launching theScore Bet in Colorado in the coming months, subject to satisfying all regulatory requirements.
Under the terms of the agreement, JEI will receive a percentage of revenue derived from theScore Bet’s mobile sports betting operations in Colorado, subject to certain annual minimum guaranteed amounts, and an initial upfront fee. The agreement spans an initial term of 10 years, extendable for two successive five-year renewal terms, at theScore’s option.
An earlier statement from Founder and CEO John Levy noted: “We can’t wait to introduce theScore Bet to fans in Colorado later this year. We’ve already seen exciting early momentum from our mobile sportsbook in our launch state of New Jersey.
“Now we are focused on its multi-state rollout while driving ongoing product innovations to further strengthen the connection between our media and gaming platforms, leveraging our incredibly powerful and highly-engaged sports app audience.”