International sportsbook bet365 furthered its commitment to its American audience with the acquisition of a building in Denver, Colorado. The deal is worth $135 million, according to the Denver Business Journal.
The company announced Wednesday it acquired One Platte, a mixed-use office building in the Platte Street district on the north of downtown Denver.
Key Takeaways
- bet365 leased part of the building starting last year.
- The company is focused on joining DraftKings and FanDuel as the top American operators.
London-based bet365 moved into One Platte last fall. It estimated 300 on-site employees in its first year and $40 million upgrading the facility to turn it into its American base, the Metro Denver Economic Development Corp. and the Colorado Office of Economic Development and International Trade previously reported.
The building was officially sold to Hillside New Media Holdings US Inc., a company associated with bet365.
“We are thrilled to announce the purchase of One Platte in Denver, Colorado,” a bet365 spokesperson said in a statement Wednesday. “This purchase builds on our announcement in August 2024 marking an exciting new chapter officially calling Denver our home.
“This investment into the city reflects our commitment to growth, creating local job opportunities, and our eagerness to further become part of Denver's business community.”
The 249,000-square-foot facility will now serve as bet365’s American headquarters after it joined the Colorado market in September 2022.
A growing reputation
Denver enticed bet365 to center its operations in the city after it offered more than $14 million in tax credits over an eight-year period. With the building now under the sole control of bet365, it expects to have close to 1,000 Denver-based employees once over the coming years.
bet365 is licensed in 13 states. That includes:
- Arizona
- Colorado
- Illinois
- Indiana
- Iowa
- Kentucky
- Louisiana
- New Jersey
- North Carolina
- Ohio
- Pennsylvania
- Tennessee
- Virginia
The company recently placed priority on expanding in America and, along with fellow newcomer Fanatics, is looking to overtake competitors such as BetMGM and Caesars.
Despite the rapid growth, bet365 noted in its announcement that it is committed to responsible gambling, which it promoted as “an enjoyable leisure activity.” The company is also one of five members of the Sports Betting Alliance, a group that represents FanDuel, DraftKings, BetMGM, bet365, and Fanatics, and champions responsible gambling.
bet365 partners with Indiana Fever
While bet365 was securing a deal for its new home, it also signed a partnership agreement with the Indiana Fever. The sportsbook, which launched in Indiana in January 2024, now has exclusive access to the most popular team in the WNBA thanks to the league’s shining star, Caitlin Clark.
The former Iowa star received the most fan votes for the WNBA All-Star Game and leads the league in merchandise sales. Judd Cramer, an economic lecturer at Harvard, said that it's “not inconceivable” that Clark could be worth about $750 million to the league.
“Exciting, record-breaking, and hungry for more, the Indiana Fever certainly embodies the Never Ordinary spirit, and we are incredibly enthusiastic about this partnership,” a bet365 spokesperson said about the partnership. “With the new season underway, it’s the perfect time for us to share our unrivalled bet365 experience with Fever fans.”
