The UK gambling operator Betfred has reached a technology and operations agreement with the premier gaming and resort destination operator Elite Casino Resorts. Under the contract, the two companies will join forces to operate a sports betting service in the state of Iowa.
The agreement would have to get the approval of the state gambling regulator. If it is given the nod, the two companies would work in collaboration to offer visitors of Elite Casino resort both retail and online sports betting services, which would feature a full range of wagering products.
A week ago, on July 11th, the Iowa Racing and Gaming Commission gave its approval to Betfred Sports Iowa, making it a vendor that could operate out of state for Grand Falls Casino Resort.
The partnership has been confirmed by the co-founder and Chief Executive Officer of Betfred, Fred Done. He explained that the company was looking for a company that shares its expertise in gambling services, the partnership with which would provide it with access to an exciting new market and various opportunities. As a matter of fact, Betfred has already been represented in the US Native American and Non-Tribal gambling sector development thanks to a partnership it has previously inked with SCCG Management in Las Vegas.
Betfred Joins Other UK Gambling Companies Seeking US Expansion
Betfred has been one of the leading gambling operators in the sports betting industry for more than 50 years now. Currently, it runs over 1,600 retail betting shops on the territory of the UK but this has not prevented the company from seeking global expansion of its operations.
In fact, Betfred has become one of the British gambling companies which have been turned their eyes to the US, in an attempt to find a new and lucrative market to offer their sports betting services. Thanks to the US Supreme Court’s ruling, the country’s sports betting market was finally opened in May 2018, providing global gambling companies with a place for further operational growth.
For a few years now, British gambling firms have been rapidly expanding their services into the US to fight the slower retail growth in their domestic markets, considering the stricter regulatory regime that has been imposed by the UK Government and local regulators. Several UK bookmakers, including William Hill, GVC Holdings, bet365, have already been present on the US sports betting market, seeking to expand and bolster their services by getting a share in the sector which, according to preliminary expectations, would be a profitable one.
Now, the partnership with Elite Casino Resorts is expected to provide Betfred with a reliable partner in Iowa, as the company it has agreed to join forces with already owns and runs three high-quality gaming and resort venues in the state.
- Author
Olivia Cole
