UK-based sports betting company Bet365 will establish its U.S. headquarters in Denver, bringing with it up to 800 jobs.

The company will occupy two floors totaling about 120K SF in the One Platte building at 1701 Platte St.

“Unveiling our US headquarters in beautiful downtown Denver represents a watershed moment in bet365’s North American journey. The Mile High City and its thriving business community is the ideal location to launch the next chapter in our company’s future, and we’re excited to create an industry-leading, innovative workplace in our new home,” a company spokesperson said in a press release posted by Gov. Jared Polis’ office.

Colorado’s Office of Economic Development and International Trade approved an incentive package for Bet365 of up to $14M. The incentives are contingent upon job growth for positions with a minimum annual salary of roughly $89K. Bet365 intends to hire more than 300 people in its first year in Denver, according to the press release.

Bet365 is a major player in the booming online sports gambling industry, with more than 7,000 employees around the world. Colorado voters approved online sports betting in 2019, and the state has since welcomed the largest North American office for Australian company PointsBet. Tipico, a European bookmaker, in 2021 announced it would create a technology hub in the Denver area.

The announcement is among the largest economic development wins for the Denver area since the pandemic. Such announcements were common prepandemic as companies, particularly in tech, flocked to the city for its growing population of young workers and a reputation for good quality of life.

Bet365’s office at 1701 Platte St. technically sits in the Highlands neighborhood, which hasn’t historically been considered part of downtown Denver. But as demographics and societal patterns continue to change in the wake of the pandemic, the city’s commercial center of gravity is shifting.

Close-in neighborhoods like the Highlands and Cherry Creek have gained popularity among office users seeking to strike the right balance in today’s hybrid work environment.