German betting company Tipico has announced that they've partnered with Caesars Entertainment and will be entering the regulated sportsbetting states of Iowa and Indiana as a result.
Tipico will operate using the license held by Harrah's Hoosier Park Racing & Casino in Indiana, while also using Casino Hotel Bettendorf's license in Iowa. The company will be able to provide mobile and online sportsbetting services if permitted by the states.
The term will be for ten years and will have the option to be renewed for another ten years thereafter.
Commenting on the agreement Tipico US CEO Adrian Vella said, "We are excited to announce Tipico's multi-state market access partnership with Caesars Entertainment, which marks an important step as we continue to expand our US footprint.
"We look forward to establishing our brand presence in the midwest, and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa."
Tipico says it plans on launching in Iowa later this year while opening up in Indiana early next year.