Latest News
ZK International Enters iGaming With Series A Investment Up To $50 Million In Carousel Group To Launch MaximBet
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.”
2025 ICR Conference
Golden Matrix Group to Participate in the 2025 ICR Conference
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
Latest News
Paf employees donated €125,000
The Nordic gaming company Paf decided to give all employees the opportunity to donate €125,000 to various good causes, initiatives and projects. The causes were selected through a nomination and voting process by the employees.
All Paf employees were given the opportunity to nominate their own initiatives that they felt were worthy of Paf’s €125,000 donation. Once the nomination process was complete, employees were asked to vote for the initiatives, and it was the employees’ votes that determined which initiatives received the donation and how much of the sum was allocated to each project.
“It’s really important that everyone who works at Paf feels that our core mission is different and that it’s well worth working for. That’s why we wanted to involve the employees and give everyone a direct opportunity to determine the distribution of the donation,” says Paf’s CEO Christer Fahlstedt.
Paf’s basic purpose is to generate funds for the benefit of society. The annual profit is used as Paf funds for social, environmental, youth, sports and cultural purposes, among others.
Second year in a row
This is the second year in a row that Paf employees have been able to donate a sum of money to various good causes. Last year employees donated €100,000 and this year the amount was increased to €125,000.
“It was a great way to end last year and a good initiative to repeat this year. The donation is not part of Paf’s usual mission and purpose, but it reflects our overall core purpose in an excellent way,’ says Paf CEO Christer Fahlstedt.
The distribution of €125,000
When the employees gathered in December for the annual Christmas speech, the vote was taken and the result determined how the €125,000 would be distributed. The Employee vote gave causes for Ukraine the biggest donation and €40,000, followed by causes against cancer €25,000 and in third place causes for combating abuse of children €15.000.
1. €40.000 – Causes for Ukraine
2. €25.000 – Causes against cancer
3. €15.000 – Causes for combating abuse of children
4. €12.000 – Causes for Children
5. €9.000 – Causes for Animals
6. €7.000 – The Swedish Brain Foundation (Hjärnfonden)
7. €6.000 – Medical aid for Palestine
8. €5.000 – Causes for Women
9. €3.500 – Relief efforts – Spanish weather disaster
10. €2.500 – Jesuit Refugee Services Malta
Most votes – top 3
Causes for Ukraine goes to the following initiatives;
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Power Up Ukraine, Swedish based, helps with energy solutions
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Blågula Bilen, Swedish based, donates trucks & 4×4 vehicles with supplies
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Hospitallers, based in Ukraine, Hospitallers is a volunteer organization of paramedics.
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Come Back Alive, Ukraine, Demining in Ukraine
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Safe & Smart, Ukraine based, Restoring hybrid and offline learning in Ukrainian schools
Causes against cancer goes to;
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Barncancerfonden, Sweden, They help families and contribute to paediatric cancer research with the aim of eradicating childhood cancer
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Kingitud Elu, Estonia, Estonian Association of Parents of Children with Cancer
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Rintasyöpäyhdistys, Finland, Europa Donna Finland ry works to increase awareness of breast cancer and improve the quality of life for patients during and after the treatment period
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Project Liv, Finland, support children with cancer and their families
Causes for combating abuse of children goes to;
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Internet Watch Foundation, UK, stop child sexual abuse online
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Anti-Human Trafficking Intelligence Initiative, USA based, end human trafficking and child exploitation
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Missing Children Europe, protects children from going missing
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ECPAT, based in Thailand, ensures children live a childhood free from sexual abuse and exploitation
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La Strada International, Europe, works against human trafficking
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Prajwala, India, works to end sex trafficking & sex crime
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Maiti Nepal, Nepal, works for a society free from trafficking of children & women
The nomination and voting process was not open to organisations or initiatives that were already beneficiaries of Paf funds. Since 1966, Paf has distributed more than €447 million in Paf funds. In the spring of 2024, Paf was able to distribute €31.4 million for the benefit of society.
The post Paf employees donated €125,000 appeared first on European Gaming Industry News.
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1spin4win Unveils Classic Christmas Hold and Win to Honor Yearly Tradition
Online slots provider 1spin4win comes out with Classic Christmas Hold and Win, a 3×3 retro fruit experience reminiscent of land-based slot machines. The nostalgia-filled holiday-themed slot releases December 19.
Classic Christmas Hold and Win invites players to experience an authentic holiday feel bolstered by nostalgic retro fruit symbols, flaming sevens, and jolly golden bells. The game’s most helpful symbol is a gift-wrapped Wild box, which lies along with other symbols on the festive reels that light up like a Christmas tree when a win occurs.
The title gives out exciting double payouts when all 9 reel cells are filled with one and the same fruit symbol and has an x1,000 Mega Jackpot and x100 Minipot on offer in the player-popular Bonus round mode.
27 paylines ensure enough gameplay variety, while the x1,500 max win will be attractive to a vast player pool. The slot’s 97.10% RTP is a safe bet for casinos that guarantees players will enjoy the balance and return for more.
“A week earlier, we released Christmas Gems Hold and Win, a more modern-looking festive slot with contemporary gem symbols and well-polished HD visuals audiences are now accustomed to,” shares Olga Bogdanova, Art Director at 1spin4win. “This week, Classic Christmas Hold and Win debuts an old-fashioned slot with the goal of taking players on a journey back in time to the well-known security of device-free celebrations and land-based gambling. By switching up our art style and adding different lighting, we offer players a chance to cozy up and take a break from the fast-paced world we live in.”
Coming up with season-themed slots during holidays is a tradition that started at 1spin4win with Lucky Xmas 20 in early 2022. Later that year, Lucky Eve 100 and Lucky Christmas 243 delivered bundles of joy to players. In 2023, the online casino provider released Northern Gold Rush, Lucky Snowlight, and Fruity Christmas, focusing on Christmas themes throughout the month. This year is a little different: Cash’n Fruits Fortune 100 spruced up the December game list to give operators an opportunity to feature a new non-Christmas-themed game along with Christmas Gems Hold and Win and Classic Christmas Hold and Win.
The slot studio prioritizes releases tied to seasonal celebrations because they have proven to attract new players, re-engage existing ones, and increase player sessions overall, which is what every operator strives for.
Explore all holiday-themed slots from 1spin4win in their portfolio.
The post 1spin4win Unveils Classic Christmas Hold and Win to Honor Yearly Tradition appeared first on European Gaming Industry News.
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