BetMGM has secured Missouri sports betting market access via a deal with Century Casino & Hotel Cape Girardeau.
Century Casinos announced on Tuesday that the two companies have struck a long-term agreement that will allow BetMGM to provide its online and mobile sportsbook under Century’s existing license in Missouri.
Per the agreement, BetMGM will pay Century a percentage of its net gaming revenue from digital sports betting, with a guaranteed minimum. Century also holds the option to launch retail sportsbook options at its discretion.
“We are excited to partner with BetMGM, a leading online sports betting and gaming entertainment company with a dynamic and innovative brand,” stated Erwin Haitzmann and Peter Hoetzinger, Century’s co-CEOs. “This partnership is another step forward in leveraging our Missouri licenses and delivering premium entertainment experiences for our customers.”
Century Casinos operates two casino resorts in Missouri, the Cape Girardeau location and the Caruthersville location. It has land-based operations in several other U.S. states as well as in Alberta, although the co-CEOs recently suggested the company could look to sell off its Canadian business.
It has parternships with other online sportsbooks in other states, including bet365 in states such as Colorado and Caesars in West Virginia.
Missouri market to launch on Dec. 1, licensing process underway
The news of BetMGM’s partnership with Century in Missouri comes two weeks after the Missouri Gaming Commission (MGC) confirmed that license applications are now open.
The MGC is accepting bids for both tethered and untethered sportsbook licenses. Under the legal framework for sports betting approved by Missouri voters by a narrow margin in last November’s election, the MGC can issue up to 19 retail licenses and up to 14 online licenses.
Commercial operators can access the Missouri market either through an untethered license or by partnering with one of the state’s six professional sports teams or one of the 13 bricks-and-mortar casinos. Each casino is entitled to two skins, so Century could also partner with another operator.
There are only two untethered “Direct” licenses available, which allow a pair of operators to offer sports betting directly over mobile platforms without requiring any form of partnership. Applications for those licenses are due on July 15 will be awarded on Aug. 15. All other applications must be completed by Sept. 12 and will be announced prior to the market launching on Dec. 1.
BetMGM is one of only a couple of sportsbooks whose Missouri partnership has been publicly announced. In March, bet365 secured market access via a sports betting partnership with the St. Louis Cardinals Major League Baseball franchise.
Others, such as BallyBet, Caesars and ESPN Bet have pathways to access via land-based casino ownership or partnerships. Underdog has also said it will enter the market.
