- The State Lottery and IGT have extended their contract through July 2025.
- With sports betting legalization pending, IGT could also pair up with a Colorado casino to offer mobile betting.
- The voters of the state must approve the tax increase associated with sports betting at the upcoming November election.
DENVER – The Colorado Lottery has extended its contract with International Game Technology (IGT) for four more years.
The deal will run into the summer of 2025 and allow for lottery retailers to offer a variety of new products. A self-service machine known as GameTouch 20 will be the feature, assisting operations for both the retailers and the lottery itself.
“Throughout the last five years, IGT has delivered its expertise and reliable technology to benefit all of our Lottery stakeholders and we are happy to continue to partner with them for the next several years,” said Tom Seaver, the state lottery’s senior director.
Colorado HB 1327 calls for a few different license types; however, all of them support a mobile betting industry.
It is uncertain if the legislators will want IGT as the sole operator of the mobile betting platform, as seen in states like Rhode Island, or if it will be a competitive bidding process amongst the books themselves.
“We’re pleased to continue our partnership with the Lottery and help it maximize funds toward good causes in Colorado such as the environment, recreation, and education,” said Jay Gendron, the North American SVP at IGT.
Though the lottery is not listed as a potential sports betting license holder, this contract extension gives IGT a great opportunity to pair with a “master license” holder. These licenses have the ability to contract with a sports betting operator for their mobile betting platform.
According to the bill’s text, only casinos in Central City, Black Hawk, and Cripple Creek are eligible for master licenses. If any or a few of the casinos partner with IGT, they would hold an even larger impact of gaming in the state of Colorado.
Revenue is sure to increase at the casinos, regardless of who they pair with, evident from the nine legal sports betting states’ revenue.
In Colorado, the casinos would see only 10% of the net proceeds taxed to the state from sports betting. Sportsbooks would offer betting action on many sporting events to 21-year-olds, with the exceptions of high school games, non-professionally sanctioned esports games, and collegiate prop betting.
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting, betting odds, and casino reviews. Michael likes to golf, play basketball, hike, and kayak when not glued to the TV watching NBA games.