In a strategic move to expand its footprint in the burgeoning Missouri sports betting market, Century Casinos has forged a pivotal “long-term” partnership with BetMGM. This collaboration was officially announced on Tuesday, signifying a major leap forward for both entities in the competitive landscape of sports wagering.

At the heart of this partnership is an innovative arrangement that sees Century Casinos lending one of its coveted online sports wagering licenses—or “skins”—to BetMGM. While the financial intricacies of this deal remain under wraps, it’s clear that this alliance holds significant promise for both parties involved.

Missouri is on the cusp of rolling out sports betting licenses come December 1st, setting the stage for what is expected to be a fiercely contested battle among industry heavyweights. The agreement between Century and BetMGM includes a revenue-sharing model, where Century will receive a percentage of net gaming revenue generated by BetMGM, alongside a guaranteed minimum income. Additionally, there are options for establishing retail sportsbook operations at Century’s discretion, contingent upon securing all necessary regulatory approvals and gaming licenses.

Century Casinos boasts two premier gaming venues within Missouri—located in Cape Girardeau and Caruthersville respectively—acquired from what was formerly known as Eldorado Resorts. This acquisition was part of Eldorado’s strategic divestment plan preceding its merger with Caesars Entertainment, further consolidating Century’s presence in the region.

For BetMGM, partnering with Century Casinos represents a critical entry point into Missouri’s market—a state where its parent company MGM Resorts International lacks land-based casino operations. As Missouri prepares to distribute 14 online sports betting permits among local casinos and professional sports teams—with expectations high for FanDuel and DraftKings securing two open licenses—the significance of this partnership cannot be overstated.

Furthermore, FanDuel’s unique position—owing to Boyd Gaming’s 5% ownership and operation of two Ameristar casinos in Missouri—adds another layer of intrigue to the licensing dynamics within the state. Competitors such as Bally’s, Caesars Entertainment, and Penn Entertainment (ESPN Bet’s parent company) already operate casinos in Missouri and are anticipated to secure their share of licenses allocated to casino operators.

From an operational standpoint, this partnership aligns perfectly with Century’s proficiency in regional casino management and its track record of successful collaborations with leading sportsbook operators across various states. In recent years, Century has inked deals enabling Rush Street Interactive and William Hill (now part of Caesars) to launch internet casinos in West Virginia using licenses from Mountaineer Casino Racetrack & Resort. Similarly, Circa Sports entered Colorado through an agreement leveraging Century’s Cripple Creek casino permit.

As articulated by Century co-CEO Peter Hoetzinger during the company’s first-quarter earnings call earlier this month, these strategic partnerships are poised to deliver incremental high-margin earnings (EBITDAR), reinforcing Century’s financial health and competitive positioning within the rapidly evolving U.S. sports betting market.

This collaboration between BetMGM and Century underscores the dynamic nature of partnerships shaping the future landscape of legal sports betting across states like Missouri—a trend that continues to gain momentum nationwide.