Tipico Signs 10-Year Multi-State Deal With Caesars

Tipico has announced a 10-year multi-state market access partnership agreement with Caesars Entertainment, which includes immediate state access for the sportsbook operator to launch an online sportsbook in Indiana and Iowa.

The launch of the online sportsbook in Indiana and Iowa is, however, dependent on state licensing and approvals. In Indiana, Tipico will partner with Harrah’s Hoosier Park Racing & Casino and in Iowa they will partner with the Isle Casino Hotel Bettendorf. Tipico plans to expand into other states.

The 10-year deal may be renewed for another 10 years.

Important step for Tipico

Adrian Vella, the CEO of Tipico U.S. said the partnership with Caesars marked an important step as the sportsbook was expanding its footprint in the U.S.

“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,” Vella added.

Tipico plans to launch its mobile sportsbook in Iowa during the final quarter of the year, with its Indiana entry due to take place during the first quarter of 2022.

“This new market access agreement with Caesars Entertainment is another exciting step forward for Tipico as we continue to connect with more US bettors,” said Stephen Krombolz Tipico’s VP of business development and strategy.

Deal making

Recently, Tipico announced a five-year partnership with Gannett, which granted the sportsbook exclusive access to the USA Today Network, which consists of more than 250 daily local sites and the USA Today Sports media group. With the deal, Tipico became the exclusive sports betting and iGaming provider for Gannett, with integration of odds, props, free to play games and betting trends across the USA Today Network.

In mid-August, 888 confirmed that an agreement had been reached with Caesars Entertainment that will see the group acquire the non-U.S. business of William Hill for $3 billion. The transaction will net Caesars proceeds of approximately $1.2 billion, and is expected to close during the first quarter of 2022, subject to receipt of shareholder and regulatory approvals, it was reported.

Caesars Entertainment announced the delayed completion of its $4bn acquisition of William Hill on April 22, 2021, and maintained that the sale of these assets would follow.

The casino operator cited a primary interest in integrating the company’s American operations to enhance its position in the burgeoning US online sports betting and gaming market.

Tipico, originally a German company, has since expanded its U.S. footprint by setting up its headquarters in New Jersey and it recently announced that it was setting up a technology hub in Denver.

Presently, Tipico is live in Colorado and New Jersey, offering cross-state experience in a single app that includes a common user wallet as the firm expands nationwide.