Connect with us

Latest News

ZK International Enters iGaming With Series A Investment Up To $50 Million In Carousel Group To Launch MaximBet

Published

on

Reading Time: 2 minutes

 

ZK International Group Co., Ltd. is pleased to announce that it has led a $50M Series A funding round in CG Malta Holding Limited (“CGM”), a rapidly-growing, privately-held multi-state and globally licensed sports betting and casino operator, to launch MaximBet.com. MaximBet is a strategic partnership with Maxim, the renowned media brand and CGM.

The Company’s investment in CGM will total $50 Million through two closings. The first closing occurred today in which the Company has acquired a 12% interest for the purchase price of $15,000,000. The second closing anticipated to occur within the second quarter, will result in the Company acquiring an additional 13% for the purchase price of $35,000,000. Upon completion of the two closings, the Company will own a total interest of 25% in MaximBet.

MaximBet will be made up of a market-leading sports betting and casino website at MaximBet.com, and tailor-made native iOS and Android apps that will allow users to bet on sports and casino in the United States and around the world. The new venture will leverage Maxim’s integrated network of print, digital, social and experiential platforms to engage the loyal Maxim community and sports bettors alike.

“Maxim has successfully established itself as a preeminent lifestyle brand over the last 25 years,” said Daniel Graetzer, CEO of CGM. The CEO of CGM continues, “our mutual objective is to provide sophisticated entertainment and VIP experiences to the same customer demographic which makes Maxim the perfect partner for CGM.”

Aside from its currently live operation in Colorado, Carousel Group has also entered into a multi-state, 10 year partnership with Caesars Entertainment, Inc., (NASDAQ:CZR) that will see its online sportsbook made available to customers in New Jersey, Indiana and Iowa, as well as its online casino in New Jersey, pending obtaining necessary gaming licenses. MaximBet intends to capture a significant share of the U.S. online gambling market, which is projected to be an annual $10 billion industry by 2025.

Last month, ZKIN announced the formation of its new wholly-owned subsidiary, xSigma Entertainment Limited, with the intent of acquiring online gaming assets to increase shareholder value by targeting businesses in the growing online casino industry. The Company is thrilled to share that its first strategic investment in the US online gambling industry is with an internationally-recognized brand and a premier operator that boasts a team with decades of experience.

Today’s closing of $15 million in Series A funding marks the beginning of the Company’s innovative approach to add value to its shareholders. Jiancong Huang, Chairman of the Company, states, “We are pleased to act as a capital partner to such an amazing brand and experienced management team. Our Company and shareholders are excited about the future and we are looking forward to adding shareholder value to CGM as MaximBet readies to rapidly scale its operations in 2021.”

Powered by WPeMatico

Continue Reading
Advertisement

BOS

BOS presents comparative study between gambling regulations in Sweden and Denmark

Published

on

bos-presents-comparative-study-between-gambling-regulations-in-sweden-and-denmark

Reading Time: 2 minutes

The Swedish Trade Association for Online Gambling – today presents a comparative study between how the gambling markets are regulated in Sweden and Denmark. The report has been carried out by the independent law firm Nordic Legal. In addition to the comparative study, 19 recommendations are made to the Swedish government and the Swedish Gambling Authority (SGA).

The report authors have found that Denmark’s gambling regulations is more successful in meeting its country’s gambling policy goals, in that Denmark over time has had a higher and more stable channelisation, but that Denmark’s position also seems to be under threat recently.

The report states that Sweden is unlikely to reach its 90 percent target in terms of channelisation unless a larger reform takes place, and the recommendations presented in the report can be used to increase the channelling rates.

The report also states that channelisation is important and should not be neglected as a marker for a well-functioning gambling market, something that has been proposed by policymakers in Sweden and elsewhere as a response to the difficulty to reach previously decided high ambition channelisation goals.

The report authors believe that no repressive measures will alone solve the channelisation problem, neither implemented nor future, as long as the licensed gambling market is not allowed to offer a sufficiently attractive gambling offer. Repressive action can include measures such as ISP blocking and payment blocking. Attractive gambling offers may, for example, include a somewhat less rigid bonus and loyalty regulation in Sweden.

The report also points to different government and authority cultures in Sweden and Denmark. According to interviews of licensees in the report, Sweden’s gambling authority is characterized by a punitive culture and a culture of fear, while Denmark is stated to be dialogue-oriented in the relationship between authority and licensees. The escalation ladder of measures in Denmark when licensees violate rules is mentioned as one positive characteristic. This should be compared with Sweden, which is stated to instantly apply the harshest possible sanctions.

“We hope that the report will be a useful tool and encourage Sweden to find inspiration in several of the measures and approaches that have been so successfully implemented in Denmark. Some of them are strictly rule based, such as how loyalty programs are regulated. Some are more difficult to approach and of a cultural nature, but just as important, and are connected to the policymaker’s attitude to the industry it is supervising”, says Gustaf Hoffstedt, Secretary General of BOS.

“Hopefully, this report can inspire policymakers in Sweden to choose the path of regulation that strengthens the licensed gambling market and as a consequence strengthen consumer protection, as neighbouring Denmark has successfully proven is possible,” Gustaf Hoffstedt concludes.

The post BOS presents comparative study between gambling regulations in Sweden and Denmark appeared first on European Gaming Industry News.

Continue Reading

Dmitry Starostenkov CEO at EvenBet Gaming

Elantil adds poker to online marketplace with EvenBet Gaming integration

Published

on

elantil-adds-poker-to-online-marketplace-with-evenbet-gaming-integration

Reading Time: 2 minutes

Pioneering platform solutions provider adds first poker solution to Elantil’s Marketplace after teaming up with award-winning software company

Elantil, the disruptive iGaming technology company looking to revolutionise the industry through its adaptable platform solutions, has announced it has added its first poker product to its innovative online marketplace after integrating with EvenBet Gaming.

Named “Best Poker Supplier” at the EGR B2B Awards 2024, EvenBet Gaming is a company with over 20 years’ experience powering online card games. Enabling operators to launch their own poker room or connect to a vast network that shares databases and hosts common tournaments, EvenBet Gaming offers a number of unique solutions to maximise liquidity and increase revenue.

Providing upwards of 40 poker variants – including mixed games such as Omaha Hi/Lo mixed and H.O.R.S.E. that help operators engage different player segments – EvenBet Gaming software is currently used by over 200 customers with 72 million players and can be integrated with any major cryptocurrency.

With this presenting operators with a unique opportunity to connect with new audiences and add another highly sought-after vertical to their line-ups, EvenBet Gaming will undoubtedly be a popular addition to Elantil’s Marketplace for all partners looking to broaden their market share.

As with all Elantil’s Marketplace partnerships, clients will be free to reach out to the provider directly and form their own agreements, with this ensuring that they will have control over a fully-customisable contract capable of supporting their unique business needs.

John Debono, Chief Technical Officer at Elantil, said: “At Elantil, we’re always looking to broaden the range of services that are available via our online marketplace – and by integrating with EvenBet Gaming, we’ve added yet another string to our bow that will provide partners with a flexible and cost-effective way to tap into the booming online poker and crypto poker markets.”

Dmitry Starostenkov, CEO at EvenBet Gaming, said: “Becoming the first poker solution to feature in Elantil’s online marketplace certainly speaks volumes about the trust the company has placed in our products, and we’re excited to repay that faith by showing their clients why our software is currently being enjoyed by over 72 million players in 41 countries worldwide.”

The post Elantil adds poker to online marketplace with EvenBet Gaming integration appeared first on European Gaming Industry News.

Continue Reading

Aristocrat Interactive

Logifuture strengthens relationship with Aristocrat Interactive through new Simulate integration

Published

on

logifuture-strengthens-relationship-with-aristocrat-interactive-through-new-simulate-integration

Reading Time: 2 minutes

  • Unique virtual product offers instant action for sports fans

  • Simulate adds thousands of daily betting events and a consistent margin

  • This follows the successful integration of the Zoom Soccer product

Logifuture, a leading supplier of iGaming products, has expanded its relationship with Aristocrat Interactive™ with the integration of its unique virtual sports product, Simulate.

Unique in its genre, Simulate lets users enjoy the  excitement  of football and basketball real-event outcomes without the wait. After placing their real-world multiple selections, users can simulate the action instantly – either by watching the matches unfold over 30 seconds or receiving immediate results, with fast payouts every time. Users can run up to 15 simultaneous simulations of the same betslip, enhancing the entertainment while ensuring a seamless experience.

Aristocrat Interactive, a leading global real money gaming (RMG) supplier, will add Simulate to its iGaming platform offering, allowing more sports fans real-time betting experiences. This follows the previous successful integration of Zoom Soccer, another of Logifuture’s industry-defining virtual sports products.

Simulate by Logifuture | The Future Of Responsible Sports Entertainment

Niccolo Cassettari, Chief Business Development Officer at Logifuture, said: “Expanding our relationship with Aristocrat Interactive marks an exciting step forward for Simulate – and reinforces our mission to build next-generation betting experiences. Their decision to adopt multiple products from our portfolio is a strong signal that we’re on the right path.

“We’re seeing a growing appetite for fresh, innovative sports entertainment – and for operators, it’s a chance to showcase innovation and position themselves ahead of the curve – offering users a fresh, engaging experience that sets them apart from the competition.”

Nir Hakarmeli, Managing Director at Aristocrat Interactive iGaming & Sports, said: “We’re constantly striving to add cutting-edge products that can enhance the experience for our partners and their players in a responsible and sustainable way. Simulate is an exciting addition to our portfolio – a fast, engaging and highly original concept that fits perfectly with the demand we’re seeing in key growth markets while aligning with our commitment to delivering safe and enjoyable play.

“As part of our extended agreement with Logifuture, we’re pleased to bring Simulate to a wider audience through this latest integration.”

The post Logifuture strengthens relationship with Aristocrat Interactive through new Simulate integration appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania