Funny how things work–if a state implements sports betting regulations that actually seek to create a new industry involving the private sector and mindful of the needs of the betting public good things happen. We’ve been bullish on Colorado’s draft sports betting regulation all along and have speculated that if all goes well the state could become one of the top jurisdictions in the country. Along with that, we’ve suggested that it won’t be long before gaming related businesses start to set up shop in Colorado.
The migration of gaming related businesses to the Rocky Mountains appears to have begun. Australian based PointsBet has announced that they’re going to open a new US based headquarters in downtown Denver later this year. The downtown Denver hub will serve as the company’s Western base of operations with “a focus on product innovation and technology recruitment”. The company’s other US location is in Exchange Place, New Jersey aka ‘Wall Street West’.
Johnny Aitken, PointsBet USA’s Chief Executive Officer, sounds like he’s looking to relocate:
“The PointsBet team is excited to join the great state of Colorado in establishing a new, Denver headquarters. It’s a sports-loving, tech hub that is also in a great location for us strategically. We can’t wait to have a presence in the area and have access to some of the best and brightest minds as we continue to grow.”
Michelle Hadwiger, Director of Global Business Development for the Colorado Office of Economic Development and International Trade, is happy to have PointsBet in town:
“We are happy to welcome a strong global technology company that is fueling industry innovation. PointsBet’s arrival underscores a continued trend of Australian companies choosing Colorado for our strategic location and access to tech talent needed to expand their operations.”
Assuming that Colorado doesn’t screw up their sports betting regulatory framework somewhere between now and implementation Ms. Hadwiger will have to hire some more staff to deal with the gaming industry businesses looking to move into the state. Sam Bailey, Metro Denver EDC’s Vice President of Economic Development, had this to say about the sports betting industry setting up shop in his city:
“Metro Denver EDC is thrilled to welcome PointsBet to Colorado. The company’s commitment to technology development, innovation, and great-quality jobs make it a perfect fit for the Metro Denver region. We look forward to supporting PointsBet’s long-term growth in Colorado.”
If all goes well, Colorado will be a booming sports betting hub for both players and gaming companies. Keep your fingers crossed that they don’t do anything stupid….