Denver has been chosen as the location for bet365's US headquarters, and the company intends to hire up to 1,000 workers in the upcoming years in the biggest city in Colorado.
Although the gaming behemoth from the UK already has a Denver office with roughly fifty employees, its official headquarters are now at 1701 Platte Street. Up to 300 positions could be filled by the gambling company in its first year of relocating to Denver, according to the Colorado Office of Economic Development and International Trade (OEDIT).
"Positions within the new headquarters will include customer service operations, trading, software development and technology, with additional openings in marketing, legal, finance, facilities, human resources and recruitment,” according to a statement issued by OEDIT.
About a year and a half after it was announced that an unnamed online gaming company with headquarters in Europe was considering Denver for its US location, the news broke. Although it was unclear at the time that bet365 was the operator in question, analysts of the sports betting sector suggested the business matched the description provided in Colorado state documents.
Big Tax Breaks for Bet365 in Colorado
Tax incentives are frequently used by states and localities to entice businesses to their jurisdictions; Colorado is no exception with reference to bet365.
“The Colorado Economic Development Commission (CEDC) approved up to $14,055,942 in a performance-based Job Growth Incentive Tax Credit for the company over eight years. These incentives are contingent upon bet365, referred to as Project Forge throughout the OEDIT review process, meeting net new job creation and salary requirements,” according to the press release.
Not only did Bet365 fill 1,000 positions at the new headquarters, but it also likely created temporary jobs because it remodeled 120,000 square feet of space in the building. The Denver office is anticipated to be used by bet365 to raise brand awareness among US bettors.
The gaming corporation has about 7,000 employees worldwide, with a lesser percentage of those employment being held in Denver and New Jersey.
Potential Growth in the Colorado Economy
Colorado's sports betting markets, both online and in-state, are among the fastest-growing in the United States.
Due to the lack of average salary data, the economic impact of the new jobs at bet365 is still unknown; nonetheless, OEDIT Executive Director Eve Lieberman characterized the positions as "good-paying."
Colorado's unemployment rate was 4% at the end of August, which was marginally lower than the 4.2% national average.
