Novibet owner Logflex MT Holding Limited has announced a new multi-year agreement with Caesars Entertainment that will allow Novibet to launch online sports betting and iGaming operations in New Jersey.
Sports betting and online casino for NJ while PA agreement is for online casino only — both to launch in 2023
According to the agreement, Novibet will be legally permitted to operate in New Jersey for an initial period of ten years. The agreement is similar to another deal that Novibet recently agreed allowing it to launch an iGaming service in Pennsylvania. However, the PA deal does not include sports betting or online poker.
Both the NJ and PA agreements are subject to Novibet obtaining regulatory approval and the company expects both platforms to launch in 2023.
Mexico agreement with Big Bola Casinos
Novibet has also announced that it has agreed a partnership agreement with Big Bola Casinos giving the company market access in Mexico for both iGaming and online sports betting. The company will launch its branded online casino, Novibet.mx, in the second half of 2022. The terms of the deal include a revenue sharing agreement with Big Bola.
Ontario update
The company also provided an update on its attempts to secure market access to the Ontario iGaming market which launched in April 2022. Novibet recently made a license application with the Alcohol and Gaming Commission of Ontario (AGCO) and hopes to launch its iGaming and online sports betting platform in the fourth quarter of 2022.
Speaking of the announcements, George Athanasopoulos, Chief Executive Officer of Novibet, said:
“The expansion of our iCasino platform into new regulated markets, including in North America, is a major pillar of our growth strategy. We’re pleased with our progress against this initiative as evidenced by our expanded partnership with Caesars Entertainment that now provides us with market access to New Jersey and Pennsylvania to address the significant OSB and iGaming opportunities in those states, as well as our new partnership with Big Bola to introduce our highly regarded iGaming and OSB products to players in Mexico later this year.
Our focus on ensuring our technology platform, product offerings and customer engagement and retention initiatives are fully aligned and in synch with local player preferences has allowed us to enter new markets through our differentiated, engaging online gaming experience.
We expect to replicate this success in the new North American markets we enter by remaining true to our operating disciplines and leveraging the proven popularity of our product offerings that feature more than 5,000 video slots, 220 live table games and 180 progressive jackpot games from over 120 online content providers as well as an innovative sports betting offering following the receipt of required respective regulatory approvals.”
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.