Partners with Big Bola Casinos to Address Mexican iGaming and OSB Opportunity
Progress with Entry into Ontario Market Continues
VALLETTA, Malta & PHOENIX, August 08, 2022 –( BUSINESS WIRE )–Logflex MT Holding Limited (doing business as Novibet) (“Novibet” or the “Company”), an established, profitable, iGaming and Online Sportsbook provider operating in several countries across Europe, today provided an update on its progress toward furthering its North America expansion strategy.
Novibet today announced a new multi-year market access agreement with Caesars Entertainment, providing Novibet the opportunity to conduct online sports betting (“OSB”) and iGaming operations in New Jersey. Pursuant to the terms of the agreement, Novibet will operate a branded online gambling service (including OSB and iGaming) in New Jersey for ten years. The New Jersey agreement follows a similar ten-year agreement Novibet entered into earlier this year to operate a Novibet-branded online gambling service in Pennsylvania (excluding an online sportsbook or online poker). Both agreements are subject to Novibet obtaining the necessary operating licenses, service licenses and other governmental approvals. Novibet plans to launch its branded online sites, novibet.com, in Pennsylvania and New Jersey in 2023.
In addition, Novibet announced that is has secured market access in Mexico for iGaming and online sports betting (“OSB”) through a partnership with Big Bola Casinos, an operator of 20 casinos throughout the country. Big Bola is one of only 14 operators authorized to offer legal betting and online casino services in Mexico. Pursuant to the new partnership with Big Bola, Novibet plans to launch its branded online casino site, Novibet.mx, in Mexico in the second half of 2022. Novibet will be responsible for all player acquisition, promotion and retention, and will share revenue generated by Novibet.mx with Big Bola. Analysts have estimated that the total addressable market for online gaming in Mexico will be approximately U.S. $1 billion in 2026.
In connection with the proposed Business Combination, Artemis, Novibet, and Novibet PLC (“PubCo”) intend to prepare, and PubCo intends to file with the SEC, a registration statement on Form F-4 (“Registration Statement”) which will include the proxy statement of Artemis and the prospectus […]