A British sports betting firm plans to establish its U.S. headquarters in Denver.
Bet365, which currently takes bets in Colorado and four other states, is preparing to take space in the One Platte office building at 1701 Platte St., according to real estate sources familiar with the deal.
The company is expected to take two floors, one of which was leased to the stock-trading app Robinhood, the sources told BusinessDen. Floors at One Platte are 60,000 square feet, which would give the company a total of 120,000 square feet.
A Bet365 spokesman declined to comment.
The five-story One Platte building was developed by Denver-based Nichols Partnership and San Francisco-based Shorenstein Properties and completed in spring 2022. Bay Area-based Robinhood leased the building’s top two floors prior to completion, but never moved in, and by late 2022 was marketing the space for sublease.
Bet365 has been the largest new-to-Denver company seeking downtown office space in recent months, according to the sources.
In April, the Colorado Economic Development Commission awarded Bet365 $14 million in state tax credits in the hopes of luring the betting firm to the state, although the commission only referred to the company publicly with the code name “Project Forge.”
According to The Denver Post, the commission said the more-than-6,000-employee company expected to create 807 net new local jobs at an average annual wage of $97,238, and that Denver was competing with Nashville, Tennessee and Tucson, Arizona, for the office. The company said it wanted 120,000 square feet.
Colorado voters legalized sports betting at the ballot box in November 2019. Bets, which can be placed both in-person at retail sportsbooks and online, were allowed starting in May 2020.
In the first three years, through the end of this past April, $12.1 billion was wagered in Colorado and $11.28 billion was paid out, according to the state. The state collected $43.8 million in taxes on the resulting betting company profits.
Betting sites Pointsbet and Tipico already have a sizable office presence in Denver.