British bookmaker bet365 has committed to competing in the American market by making a $135 million purchase of its newest headquarters located in Denver and also struck an agreement with Caitlin Clark’s Indiana Fever as well.
Rocky Mountain Headquarters
The privately owned bet365 is one of Europe’s most popular bookmakers, and the company is beginning to make strides in the United States despite the duopoly of FanDuel and DraftKings having an iron grip on the mobile sports betting market, controlling approximately 73% of the market.
However, bet365 has earned its way into the American market. It has attracted enough of the market to substantiate making a $135 million outlay for 1701 Platte Street, also known as One Platte, in Denver, Colorado. The company already occupies 119,000 of the 249,000-square-foot building, and according to documents, the building is 88% leased.
Expecting to spend an additional $40 million on upgrades, Bet365 plans to employ 300 people upon completion of the renovations. It should be noted that bet365 is currently operating in 13 US states, including Arizona, Colorado, Illinois, Indiana, Iowa, Kentucky, Louisiana, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, and Virginia. Online casino wagering is also available through bet365 in New Jersey and Pennsylvania.
Bet365 chose Denver, in part at least, due to the $14 million in tax credit it will receive over the next eight years. The company believes it will eventually employ as many as 1000 people in the Denver area.
Joining the Sports Betting Alliance
In another commitment to the U.S. market, bet365 has recently joined the Sports Betting Alliance (SBA), becoming only the fifth member to do so, joining founding members FanDuel, DraftKings, BetMGM, and Fanatics.
SBA President Jeremy Kudon said, “Bet365 shares the SBA’s commitment to a regulated, transparent, and sustainable US online gaming market. Together, we’ll continue fighting for more states to swap their dangerous and unregulated sports betting and iGaming products for regulated, consumer-protected legal platforms.”
Bet365 Inks Pact With Fever
Bet365 recently partnered with the WNBA’s most-watched and bet-on team, Caitlin Clark’s Indiana Fever. Caitlin Clark was last year’s No. 1 draft pick, and she has single-handedly sold out arenas and caused the TV ratings to skyrocket. She has given the league much-needed publicity, and the Indiana Fever are the WNBA’s biggest beneficiaries because of it.
Indiana Fever Chief Operating Officer and General Manager Amber Cox said, “We’re excited to team up with Bet365 and bring fans a premium mobile sports betting experience. This partnership is all about creating more ways for fans to connect with our team from tipoff through to the final buzzer.”
“Exciting, record-breaking, and hungry for more, the Indiana Fever certainly embodies the Never Ordinary spirit, and we are incredibly enthusiastic about this partnership,” said a Bet365 spokesperson. “With the new season underway, it’s the perfect time for us to share our unrivaled Bet365 experience with Fever fans.”
The agreement allows bet365 to offer “fan-focused features that will be integrated across the Fever’s media and game day experience,” the company’s release explained.
