Score Media and Gaming Inc have cleared up this week’s initial step in the licencing process that will allow it to sell its Colorado sports wagering services. The Colorado Limited Gaming Control Commission has issued a provisional Internet Sports Betting Operator licence to the firm’s subsidiary, Score Digital Sports Ventures Inc.
Receiving this temporary licence is, the firm said, the first step in a multi-stage regulatory approval process that needs to be met before the company can offer wagering in the state on theScore Bet.
TheScore gained market access to mobile sports betting services in Colorado through its previously announced deal with a subsidiary of US gaming operator Jacobs Entertainment Inc (JEI) in January. This anticipates launching of theScore Bet in Colorado in the months to come, subject to all regulatory requirements being met.
Under the terms of the agreement, JEI will receive a percentage of revenue from the Colorado mobile sports betting activities of theScore Bet, subject to certain minimum guaranteed sums per annum, and an initial upfront fee. The deal, at the option of theScore, spans an initial 10-year period, extendable for two consecutive five-year renewal periods.
A statement made by Founder and CEO John Levy earlier 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 roll-out 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.”
— Score Media and Gaming Inc. (@theScore_IR) March 5, 2020