PointsBet announced a partnership with Kroenke Sports & Entertainment this week to become the “official and exclusive gaming partner” of the NBA’s Denver Nuggets, NHL’s Colorado Avalanche, and the National Lacrosse League’s Colorado Mammoth.
The deal covers the entire gaming category including sports betting, daily fantasy, and online casino. It marks the second partnership the Aussie-based book has secured this summer, following the agreement with the MLB’s Detroit Tigers. It also gives the company some momentum as they enter an already crowded field in the Rocky Mountain state.
Colorado a fast growing sports betting market
The deal covers a variety of presences, in the Pepsi Center, on KSE-owned Altitude Sports television and radio, and a new KSE mobile app to launch soon. Colorado sports fans will now see PointsBet data integration on game broadcasts on Altitude. The deal starts for the 2020-21 seasons.
“PointsBet is renowned within the gaming industry for product innovation and its unique PointsBetting product, as well as for having the fastest app in the marketplace,” KSE EVP & Chief Operating Officer Matt Hutchings said in a statement. “Sports fans are hungry for the added dimension that fantasy sports and gaming add to their experience. We know that Nuggets, Avs, and Mammoth fans will be excited to have the opportunity to engage more deeply with their favorite teams via PointsBet.
“PointsBet demonstrated just how much they value Denver and the Rocky Mountain Region, when they chose to locate their United States headquarters here in Colorado. They recognize, as do we, that Denver is a fast-growing and dynamic city home to some of the most passionate sports fans in the world.”
The sportsbook is also building a new US flagship headquarters in downtown Denver and will open a retail location at the Double Eagle Hotel and Casino in Cripple Creek.
“It was instant from Day 1 there were shared values between the Kroenke Sports & Entertainment team and PointsBet, with a clear focus for putting our fans and customers first. We’ve long stated that our goal is to become synonymous with Colorado sports betting, and this exclusive partnership with our hometown teams in the Denver Nuggets, Colorado Avalanche, and Colorado Mammoth, plus premium entertainment spaces within their playing arena, is a momentous step in that process,” noted Johnny Aitken, CEO of PointsBet USA. “We have defined ourselves via our proprietary, in-house technology on delivering the fastest and easiest sports betting experience in the USA, and Denver sports fans in-arena or at home watching games on the Altitude Sports Network will be provided many ways to elevate their viewing experience engaging with our market-leading PointsBet Sportsbook app.”
Colorado has become a land rush for sports betting. June saw a nearly 50% jump in handle to $38.1 million, without any semblance of normal sports offering. Denver is a four-sport big league market. The state also has a Power 5 in Colorado University, a G5 in Colorado State, and a lot to offer sports-wise. PointsBet joins national competitors like DraftKings, FanDuel, FoxBet, and others, along with local brands from the state’s multitude of casinos.
Gateway to the Golden State?
What should stand out to this deal for those who follow the expansion of sports betting is that Stan Kroenke also owns the LA Rams of the NFL. Football is the biggest single sport driving handle in this industry. California, which has lagged behind other states, is likely the biggest untapped market in the US. This could be a huge turning point in the Golden State debate. Given all the money the state invested to draw the team back from St. Louis and into the new stadium they’ll share with the Chargers, the revenue in neighboring states must look tempting.
Kroenke will see what ROI comes from this deal with his fans in Denver. If he brings a gaming partner to the shiny new stadium he’ll open in Inglewood, PointsBet will be on the short list. The down periods in football games (like all those commercial breaks) gives fans more opportunity to engage on phones for in-game betting and fantasy football.