BetMGM Partners with Century for Missouri Sports Betting License
Posted on: May 27, 2025, 11:41h.
Last updated on: May 27, 2025, 02:11h.
- Century is farming out one of its skins to BetMGM
- MGM Resorts doesn’t run a casino in the state, but Century operates two
Century Casinos announced Tuesday that its namesake gaming venue in Cape Girardeau, Mo. inked what the operator described as a “long-term” accord with BetMGM.
Under the terms of the pact, Century will farm out one of its online sports wagering skins in Missouri to BetMGM. Financial terms of the agreement weren’t disclosed. The state is expected to dole out sports betting licenses on December 1.
The agreement includes a percentage of net gaming revenue payable to Century, with a guaranteed minimum, as well as retail sportsbook options to be exercised at Century’s discretion,” according to a statement issued by Century. “The agreement is contingent on obtaining all necessary gaming licenses and regulatory approvals.”
In addition to the Cape Girardeau venue, Century runs a casino in Caruthersville, Mo. Those assets were acquired from the company previously known as Eldorado Resorts. It was part of that firm’s plan to offload some smaller venues leading up to its acquisition of Caesars Entertainment. Those gaming properties, along with the Mountaineer Casino Racetrack and Resort in West Virginia, were included in one transaction.
Century Deal a Win for BetMGM
Missouri’s sports betting regulations made a relationship such as the one formed with Century a necessity for BetMGM because MGM Resorts International, which owns half of the online betting operator, doesn’t run a land-based gaming venue in the state.
The Show Me State is expected to award 14 online sports betting permits. Six will go to casino operators in the state and another six will go to professional sports teams. It’s widely expected that two free-floating licenses will go to FanDuel and DraftKings – the two largest internet sportsbooks in the US.
It’s not a foregone conclusion that FanDuel will need one of those permits because it’s 5% owned by Boyd Gaming, which runs two Ameristar casinos in Missouri.
Bally’s, Caesars Entertainment, and ESPN Bet parent Penn Entertainment each run gaming venues in the state and are likely to command three of the six licenses regulators there will award to casino operators.
Sports Betting Deals Could Boost Century
On the company’s first-quarter earnings conference call earlier this month, Century co-CEO Peter Hoetzinger said sports betting deals in Missouri “should deliver incremental high margin earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) to our properties.”
Century’s core competency is operating regional casinos and the company has a history of reaching agreements with sportsbook operators in other states for use of its iGaming and sports betting skins. In 2021 Century reached agreements with Rush Street Interactive and William Hill so those operators could launch internet casinos in West Virginia using the Mountaineer Casino, Racetrack & Resort’s license.
The prior year, Century struck an agreement with Las Vegas-based Circa Sports so that sportsbook could enter Colorado via Century’s Cripple Creek casino permit.
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