Novibet To Go Public And Launch In 7 US States, Together with NJ, PA

Shutterstock/Alberto Andrei Rosu

Novibet is a European on-line playing operator which may as nicely use this pickup line, “you don’t know who I’m, however you’re about to.”

Beginning this yr, the Malta-based operator plans to launch new on-line playing websites in 9 North American markets.

These plans begin with a Pennsylvania on-line on line casino and sportsbook. From there, Novibet plans to launch iGaming and on-line sports activities betting in Mexico in Q3 2022. Then Novibet expects to enter Ontario below its personal “license” throughout This fall 2022, in keeping with a Novibet press launch on March 30.

After acquiring an working settlement to supply Ontario on-line playing and being permitted to launch there, Novibet desires to maneuver on to launch New Jersey on-line on line casino and sports activities betting throughout the first half of 2023.

Much more states for Novibet

That’s not all. In 2023 and 2024, Novibet has plans to launch in 5 further states:

  • Indiana (iGaming and sports activities)
  • Louisiana (iGaming)
  • Iowa (iGaming and sports activities)
  • Missouri (OSB), and
  • Mississippi (OSB)

In different phrases, Novibet plans to go from being in zero elements of America to seven US states inside two years. After all, the iGaming portion of that could be a tad optimistic, since none of these states have legalized it but. Indiana tried this yr, however failed, whereas Louisiana and Iowa lawmakers haven’t even began.

In the mean time, the operator primarily identified for on-line on line casino video games operates in Greece, Eire, Italy and Malta.

About 68% of Novibet’s 2021 internet gaming income got here from iGaming, with the remainder generated by on-line sports activities betting.

A SPAC will present Novibet’s funding

These plans from from a March 30 press launch to announce Novibet’s resolution to go public. It’ll accomplish that thorough an settlement it entered with Phoenix-headquartered Artemis Strategic Funding Company. Artemis is a publicly traded particular goal acquisition firm (SPAC). This has been the popular path for on-line playing operators seeking to turn out to be publicly-traded in recent times.

Earlier than the SPAC, Novibet was valued at $625 million. Novibet calculates the deal will give it $135 million “of unrestricted money” to perform its world growth objectives.

Artemis will merge into a brand new wholly-owned subsidiary of Novibet.

Novibet’s announcement has a tone of certainty about its objectives:

“Novibet has entered into market entry agreements for iGaming in Pennsylvania and is finalizing market entry agreements for six further US states, whereas searching for a direct license to function in Ontario and in different Canadian provinces as they turn out to be regulated.”

A part of that optimism could stem from Novibet proudly owning its personal tech platform, which cuts down on prices.

The press launch talked about:

“New consumer breakeven time from first deposit of value of acquisition has improved to 43 days in 2021 from 146 days pre-2019, regardless of a simultaneous improve in advertising and marketing spend.”

Artemis inventory rose from $9.91 on March 29 to $9.97 on Friday.

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