Sports Betting Giant Contemplating Colorado for US Headquarters, Offered $14M in Incentives

An online gaming corporation is evaluating the establishment of its United States base in Colorado.

On Thursday, the Colorado Economic Development Commission (EDC) gave approval for as much as $14 million in job-related incentives to an unnamed company identified as “a global leader in the online sports betting and gaming sector.” Referred to as “Project Forge” in documents, the firm is pondering investing $40 million to create a 120,000-square-foot office building that would generate 807 new positions.

Project Forge’s extension seeks to bring the company’s good name and brand recognition to the US as its newest growth frontier,” the EDC’s project summary clarified. “While the company has a presence in New Jersey, the project will serve as a formal stake in the ground, the main office for the US.”

No particular area was brought up in the summary, although the commission said the enterprise is interested in Denver. It’s also considering Nashville and Tucson, AZ as potential sites, and criteria that will be taken into account in picking a location consist of the availability of qualified personnel, the community’s cost of living and quality of life, and closeness to an international airport.

Who Could It Be?

EDC officers declined to name the company, asserting in the summary that “further identification would jeopardize the company’s confidentiality.”

Still, the summary gave a few hints. Besides being a global leader that regards the US as a growth market, the EDC said the business “has shaped the industry over the last 20 years” with its innovative technology. Additionally, the corporation employs more than 6,000 people and has a presence in New Jersey.

That profile would seem to coincide with Bet365, which on its website states it was founded in the UK in 2000 and that it has a global workforce of more than 6,000. The company also has an office in southern New Jersey, outside of Philadelphia.

Bet365 is presently authorized in four US states – Colorado, New Jersey, Ohio, and Virginia. In January, it signed a market rights deal with Churchill Downs Incorporated to function in Pennsylvania.

Not The First to Consider Colorado

Whoever the online gaming operator is, if they pick Colorado, they won’t be the first in the industry to settle there.

In 2019, PointsBet announced that Denver would become the home for its western US base of operations. Two years later, Tipico was approved to receive incentives to locate its US tech hub in the Mile High City.