Change In Gannett Deal Might Signal Tipico's US Online Gambling Exit
Tipico's new publicity contract with Gannett is not in line with its aggressive attitude to US online gambling. Rumors have circulated about Tipico cutting its losses in the United States.
Gannett lost $54 million in the second quarter. It is preparing to lay off staff. Gannet's agreement with Tipico has been altered to allow sports betting ventures with other companies. Tipica is a US online gambling player.
Gannett has decided to end its exclusive relationship with Tipico. Tipica operates an online casino and sportsbook in New Jersey and Colorado. Gannet got an undisclosed "referral" bonus for each customer it drove to TipICO. It's unclear if Tipio made any promises about expanding into other markets during the original contract negotiations.
Tipico has sports betting agreements in Indiana, Iowa, and Ohio. Both the Columbus Crew of MLS and the NHL's Columbus Blue Jackets have announced sports bets partnerships with Tipico. Rumors are rife that Fanatics will buy Tipica's US operations. TipICO might be praying Gannett doesn't alter its deal any further. If it isn't going to invest the resources necessary to compete on a national level, Fanatic's purchase might represent more money than Tipicos is currently making on its relatively meager activity.
