Posted on: August 5, 2022, 06:53h.
Last updated on: August 5, 2022, 07:27h.
One year after media giant Gannett entered into an exclusive alliance with sports betting operator Tipico, the US firm announced on Thursday the two sides have reworked the deal to let it partner with other sportsbooks.
During the companys conference call with investment analysts, Gannett CEO Mike Reed cited the German-based sportsbooks lack of growth in the US.
Their expansion has been slower than anticipated, and they still operate in only two states, Reed said.
In Gannetts quarterly report to the SEC, the company explained that both parties mutually terminated the deal reached on July 26, 2021. The new deal, which took effect Monday, runs for four years and limits Tipicos exclusivity to certain states. The states were not listed in the report.
Tipico is currently licensed in Colorado and New Jersey for sports betting, and it also offers iGaming in New Jersey. It also has market access deals with Caesars Entertainment for Indiana and Iowa, as well as an agreement with the Columbus Crew for access in Ohio.
As part of the reworked deal, Tipico bought out the warrants for a minority stake in the company Gannett received in last years deal. The cost of that, along with certain media fees, will be $14.7 million over the four years. Tipico will also continue to pay Gannett for referrals as well.
Virginia-based Gannett is the largest newspaper publisher in the US, and its portfolio includes USA Today and such local publications as The Arizona Republic in Phoenix, The Indianapolis Star, The Cincinnati Enquirer, The Columbus (Ohio) Disptach, and The Tennessean in Nashville. In all, Gannett has outlets in 46 US states.
Reed seemed optimistic that Gannett will benefit from the new deal.
We are already off and exploring opportunities with other sports gaming providers and expect to see increased revenue from this category moving forward, he told analysts.
A message to Tipico seeking comment was not immediately returned Friday.
This time last year, officials from Tipico and Gannett spoke enthusiastically to Casino.org about the partnership. It included a $90 million ad buy and offered Gannett the chance to buy 5,000 shares in Tipicos US division.
Gannett mentioned Tipico had plans to be in 15 states over the then-five-year term of the deal. Tipico US Vice President of Business Development Stephen Krombolz indicated the next 12-to-18 months would feature significant growth.
Shortly after reaching the Gannett deal, Tipico announced it would locate its US tech hub in Denver. The company announced the facility would create 441 jobs, and the Colorado Economic Development Commission approved the project for up to $7.5 million in tax incentives over eight years, contingent on Tipico meeting the jobs number goal.
According to the Ohio Casino Control Commission, Tipico has applied for licensure there. Both the sportsbook and the Crew, an MLS team, have applied for only an online license. If approved, the sportsbook could be operational as early as Jan. 1.
The Crew partnership announced in January is the most recent deal for Tipico.
Read the original here:
Gannett Free to Work With Other Sportsbooks After Tipico Deal Revised - Casino.Org News
- Fanatics Sportsbook Promo: Get $1,000 Bet Match Bonus in All States; NC Also Gets Free Hat with Early Sign-Up - The Action Network - March 4th, 2024 [March 4th, 2024]
- Despite Red Flags, Sportsbooks Say Caleb Williams Is Lock To Go #1 In NFL Draft - Outkick - March 4th, 2024 [March 4th, 2024]
- Caesars Sportsbook Promo Code: Profit Boosts with early NC sign-up; Other offers nationwide - New York Post - March 4th, 2024 [March 4th, 2024]
- Best Sportsbook Promos and Bonus Codes in Indiana for March 2024: BetMGM, DraftKings, & FanDuel - 21 Alive News - March 4th, 2024 [March 4th, 2024]
- Caesars Sportsbook NC promo code WRALDBL: Get this week's pre-reg offer - WRAL News - March 4th, 2024 [March 4th, 2024]
- Fanatics Sportsbook Promo: Earn up to $1K in Bonus Value in 15 States on Any Weekend Action - The Action Network - March 4th, 2024 [March 4th, 2024]
- Fanatics Online Sportsbook App Preview and Bonus Offers - TheLines.com - March 4th, 2024 [March 4th, 2024]
- Get the best North Carolina sportsbook promo codes here during prelaunch - OregonLive - March 4th, 2024 [March 4th, 2024]
- Potawatomi Casino Hotel - Milwaukee Announces Dates for Retail Sportsbook and Poker Room Grand Openings - Milwaukee Courier Weekly Newspaper - March 4th, 2024 [March 4th, 2024]
- DraftKings Sportsbook: How to Bet on the Grammys - OddsChecker - February 7th, 2024 [February 7th, 2024]
- Fanatics Sportsbook Promo: Get $1,000 total sign-up bonus over 10 days to use on Super Bowl, any games - New York Post - February 7th, 2024 [February 7th, 2024]
- Fanatics Sportsbook Promo Code Banks Maximum $1K in 9 States, $200 Offer Available In Other States For Any Sport - Fantasy Labs - February 7th, 2024 [February 7th, 2024]
- North Carolina has yet to approve any license, but one online sportsbook says it'll be available in March - WXII12 Winston-Salem - February 7th, 2024 [February 7th, 2024]
- Open for business at the WM Phoenix Open: DraftKings Sportsbook - The Arizona Republic - February 7th, 2024 [February 7th, 2024]
- Fanatics Sportsbook Goes Live with Wagering in Iowa - SBC Americas - February 7th, 2024 [February 7th, 2024]
- Fanatics Sportsbook Betting App Goes Live In Iowa - Sports Handle - February 7th, 2024 [February 7th, 2024]
- Get $158 In Bonuses With BetMGM Sportsbook Bonus Code ROTOBONUS - RotoWire - February 7th, 2024 [February 7th, 2024]
- Fanatics Sportsbook Launches Today in Iowa - GlobeNewswire - February 7th, 2024 [February 7th, 2024]
- Wisconsin Sports Betting (2024): 10 Best WI Sportsbook Apps - The Hudson Reporter - February 7th, 2024 [February 7th, 2024]
- Tennessee vs. LSU: Sportsbook promo codes, odds, spread, over/under - February 7 - Action News 5 - February 7th, 2024 [February 7th, 2024]
- Utah Sports Betting (2024): 10 Best UT Sportsbooks Online - The Hudson Reporter - February 7th, 2024 [February 7th, 2024]
- California Sports Betting (2024): 10 Best CA Sportsbooks - The Hudson Reporter - February 7th, 2024 [February 7th, 2024]
- North Dakota Sports Betting 2024 - 10 Best ND Sportsbooks - The Hudson Reporter - February 7th, 2024 [February 7th, 2024]
- Charleston Southern vs. Winthrop: Sportsbook promo codes, odds, spread, over/under - February 7 - WRDW - February 7th, 2024 [February 7th, 2024]
- Caesars Sportsbook Promo Code NYPNEWS1000: Claim $1K back on Super Bowl, NHL and others - New York Post - February 7th, 2024 [February 7th, 2024]
- 2024 Tourney The First Phoenix Open With On-Site Sportsbook - Sports Handle - February 7th, 2024 [February 7th, 2024]
- Wisconsin vs. Michigan: Sportsbook promo codes, odds, spread, over/under - February 7 - WEAU - February 7th, 2024 [February 7th, 2024]
- The Causes of Sportsbook Verification Problems & Delays, and How to Get Verified Faster at DraftKings, FanDuel ... - The Action Network - February 7th, 2024 [February 7th, 2024]
- Heres the Best Caesars Sportsbook Promo Code for This Week - Mile High Sports - February 7th, 2024 [February 7th, 2024]
- MLB Picks for April 5: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - April 6th, 2023 [April 6th, 2023]
- How To Bet the MLB No Sweat promo on DraftKings Sportsbook - DraftKings Nation - April 6th, 2023 [April 6th, 2023]
- Caesars Sportsbook promo code: MLB Opening Day, NBA first bet offer ... - March 31st, 2023 [March 31st, 2023]
- Best Online Sportsbooks 2023 - USA Sports Betting Sites - March 4th, 2023 [March 4th, 2023]
- Same Game Parlay Extra: How a Bettor Turned $25 Into Over $13,500 With an NBA SGPx on DraftKings Sportsbook - DraftKings Nation - March 4th, 2023 [March 4th, 2023]
- Here's the games where Caesars Sportsbook has the best odds for Wednesday - NOLA.com - March 4th, 2023 [March 4th, 2023]
- KD is back! Heres how to bet his DraftKings Sportsbook Super Boost - DraftKings Nation - March 4th, 2023 [March 4th, 2023]
- What are the most likely NBA Finals scenarios according to Caesars Sportsbook? - NOLA.com - March 4th, 2023 [March 4th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for February 24 - DraftKings Nation - February 26th, 2023 [February 26th, 2023]
- MLB Futures: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - February 26th, 2023 [February 26th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for February 16 - DraftKings Nation - February 18th, 2023 [February 18th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for All-Star Weekend - DraftKings Nation - February 18th, 2023 [February 18th, 2023]
- MLB Win Totals: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - February 18th, 2023 [February 18th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 30 - DraftKings Nation - February 2nd, 2023 [February 2nd, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for February 2 - DraftKings Nation - February 2nd, 2023 [February 2nd, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for February 1 - DraftKings Nation - February 2nd, 2023 [February 2nd, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 31 - DraftKings Nation - February 2nd, 2023 [February 2nd, 2023]
- How a Bettor Turned $10 Into Over $18,000 With an NFL SGP Bet on DraftKings Sportsbook - DraftKings Nation - February 2nd, 2023 [February 2nd, 2023]
- Sportsbook News: Best Sports Online Betting & Odds - Yahoo! - January 25th, 2023 [January 25th, 2023]
- #1 Best Online Sportsbook | Reviews of US Betting Sportsbooks - January 25th, 2023 [January 25th, 2023]
- NFL Odds, Lines and Spreads - Sportsbook Review - January 25th, 2023 [January 25th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 23 - DraftKings Nation - January 25th, 2023 [January 25th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 24 - DraftKings Nation - January 25th, 2023 [January 25th, 2023]
- Australian Open Odds: Picks and Predictions to Consider on DraftKings Sportsbook for January 23 & 24 - DraftKings Nation - January 25th, 2023 [January 25th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 10 - DraftKings Nation - January 10th, 2023 [January 10th, 2023]
- How to bet the Donovan Mitchell Super Boost Tuesday on DraftKings Sportsbook - DraftKings Nation - January 10th, 2023 [January 10th, 2023]
- NBA Best Bets: NBA Picks and Betting Trends on DraftKings Sportsbook for January 2 - DraftKings Nation - January 4th, 2023 [January 4th, 2023]
- Online Maryland Sports Betting Expected Next Week, SWARC Approves 10 Sportsbooks - Sports Betting Dime - November 16th, 2022 [November 16th, 2022]
- NFL Betting Trends: Team Records Against the Spread and Totals on DraftKings Sportsbook for Week 11 - DraftKings Nation - November 16th, 2022 [November 16th, 2022]
- FanDuel Sportsbook Maryland Promo Code: Grab $100 Sign Up Bonus - Saturday Down South - October 25th, 2022 [October 25th, 2022]
- MLB Picks for the World Series: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - October 25th, 2022 [October 25th, 2022]
- DraftKings Sportsbook Is Coming Soon To Maryland: Sign Up To Score $200 In Free Bets On Launch Day After Regi - DraftKings Nation - October 25th, 2022 [October 25th, 2022]
- MLB Picks for October 21: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - October 21st, 2022 [October 21st, 2022]
- MLB Picks for October 20: Baseball Best Bets, Predictions, Odds on DraftKings Sportsbook - DraftKings Nation - October 21st, 2022 [October 21st, 2022]
- Top New Jersey Sportsbook Brands Where You Can Bet on American Football - American Football International - October 19th, 2022 [October 19th, 2022]
- Lions vs. Cowboys prediction and early odds at Caesars Sportsbook - MLive.com - October 19th, 2022 [October 19th, 2022]
- DraftKings Sportsbook same-game parlay: How this bettor turned $10 into $47,673.02 with a string of upsets - DraftKings Nation - October 19th, 2022 [October 19th, 2022]
- October 19 NBA Games: Odds, Tips and Betting trends - USA TODAY Sportsbook Wire - October 19th, 2022 [October 19th, 2022]
- October 18 NBA Games: Odds, Tips and Betting trends - USA TODAY Sportsbook Wire - October 19th, 2022 [October 19th, 2022]
- MLB Picks for October 18: Baseball Best Bets, Predictions, Odds to Consider on DraftKings Sportsbook - DraftKings Nation - October 19th, 2022 [October 19th, 2022]
- Crypto Sportsbooks: Benefits And Disadvantages - NewsBTC - October 19th, 2022 [October 19th, 2022]
- Yankees vs. Astros odds: Who is favored to win 2022 ALCS? - DraftKings Nation - October 19th, 2022 [October 19th, 2022]
- BetMGM partners with MLB's Cincinnati Reds, announces branded in-stadium sportsbook - Yogonet International - October 17th, 2022 [October 17th, 2022]
- Kambi wins Sportsbook Supplier of the Year at 2022 Global Gaming Awards in Las Vegas - Yogonet International - October 17th, 2022 [October 17th, 2022]
- First look: Cleveland Browns at Baltimore Ravens odds and lines - USA TODAY Sportsbook Wire - October 17th, 2022 [October 17th, 2022]
- NBA predictions 2022-23: Eastern conference picks, betting odds, teams win totals for this season - DraftKings Nation - October 17th, 2022 [October 17th, 2022]
- Barstool Sportsbook Promo Code ACTNEWS150 Offers $150 for Commanders-Bears - The Action Network - October 15th, 2022 [October 15th, 2022]
- DraftKings Sportsbook promo code and a free Rangers vs. Jets best bet - SILive.com - October 15th, 2022 [October 15th, 2022]
- PointsBet Unveils First-of-Its-Kind Content Functionality Within Sportsbook App - PR Newswire - October 15th, 2022 [October 15th, 2022]
- NBA predictions 2022-23: Northwest division picks, betting odds, teams win totals for this season - DraftKings Nation - October 15th, 2022 [October 15th, 2022]
- Three reasons to use a sportsbook - The Gila Herald - September 27th, 2022 [September 27th, 2022]