Tipico enters Iowa & Indiana betting markets with Caesars deal

Malta-based online gambling firm Tipico has scored yet another multi-year sports betting deal as it continues to work on its ambitious US expansion plan.

On Tuesday, the company announced that it had entered into a 10-year agreement with hospitality and gaming giant Caesars Entertainment. The terms of the contract allow Tipico to pursue sports betting operator licenses in Indiana and Iowa in partnership with Harrah’s Hoosier Park Racing & Casino (pictured) and Isle Casino Hotel Bettendorf, respectively.

If the partnership is approved by Indiana betting regulators, the brand will mark the second online partner for Harrah’s Hoosier Park since the Caesars online sports gambling license is also tied to the facility. The state’s gambling law allows each brick-and-mortar establishment to launch up to three online skins.

The partnership with Isle Casino Bettendorf is also the second for the facility, which already operates retail and online sportsbooks under the Caesars brand.

In addition to sports betting, the agreement also paves the way for Tipico to operate iGaming platforms in Iowa and Indiana when the market is legalized in the states.

The contract will run for the next ten years, after which the two partners could decide to extend it for another period of the same length.

Tipico ‘excited’ about new partnership

Commenting on the new partnership, Tipico US Chief Executive Adrian Vella said that the deal is an important step for the company as it seeks to extend its footprint in the regulated US sports betting market.

“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,” said Vella.

“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.”

The Vice President of Business Development and Strategy at Tipico, Stephen Krombolz, also issued a statement to celebrate the deal, saying that the two states are critical to the firm’s expansion plans as it makes baby steps in the US market.

“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 Krombolz.

“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.”

Tipico targeting Iowa launch by end of 2021

Following its recent partnership deal with Caesars Entertainment, the European operator has revealed plans to launch its Iowa sports betting product in the fourth quarter of the year, subject to regulatory approval. The Hawkeye State will mark the third US state for the sportsbook, which is already live in Colorado and New Jersey.

The operator joined the competitive Colorado sports betting market as the 25th skin in mid-August under a license agreement with Century Casinos, while the brand’s online permit in New Jersey is tethered to Ocean Casino Resort.

The Indiana launch will take place in the first quarter of the 2022, according to Tipico.