Tipico has agreed to a ten-year partnership with Caesars Entertainment, which will provide Tipico with instant access to open an online sportsbook in Indiana and Iowa, subject to licencing and clearances.
The former would take place at Harrah’s Hoosier Park Racing & Casino, with the latter taking place at the Isle Casino Hotel Bettendorf location in Iowa.
In addition to giving the rights to igaming market access, the agreement would provide a road to grow into new states in the future, pending legislative clearance in each state.
Important step in US footprint expansion
Adrian Vella, CEO of Tipico US said: “We are excited to announce Tipico’s multi-state market access partnership with Caesars Entertainment, which marks an important step as we continue to expand our US footprint.
“We look forward to establishing our brand presence in the midwest, and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa.”
Tipico’s mobile sportsbook is set to begin in Iowa in the fourth quarter of this year, with Indiana following suit in the first quarter of 2022, subject regulatory approval.
More state market access is planned before the end of the year, with the group’s online casino product set to launch in New Jersey this fall.
Tipico’s VP of Business Development and Strategy, Stephen Krombolz said: “This new market access agreement with Caesars Entertainment is another exciting step forward for Tipico as we continue to connect with more US bettors.
“Indiana and Iowa are key states in our early expansion plans but there is certainly more to come, and we look forward to announcing additional partnerships later this year.”
Last week, 888 Holdings announced it had reached an agreement with Caesars Entertainment to purchase William Hill’s European business for £2.2 billion.
The deal, which was announced earlier this week, will yield Caesars £835 million ($1.2 billion) in proceeds and is expected to completion in the first quarter of 2022, pending shareholder and regulatory clearances.
On April 22, 2021, Caesars Entertainment revealed that its $4 billion (£2.9 billion) acquisition of William Hill would be postponed, and that the sale of these assets would follow.
The casino operator expressed a strong desire to integrate the company’s American operations in order to strengthen its position in the booming online sports betting and gaming sector in the United States.