A fusion of sports, iGaming and digital entertainment
Private sports betting and casino operator Carousel Group announces a global strategic partnership with renowned media brand Maxim. ZK International Group Co. Ltd. has led a $ 50 million Series A financing round at CG Malta Holding Limited ("CGM"), to launch MaximBet.com. The Company's investment in CGM will total $ 50 million through two closings, the first that already occurred in which the Company acquired a 12% interest and the second closure that is expected to occur within the second quarter will result in the purchase of an additional 13%. Upon completion of the two closings, the Company will have a total 25% stake in MaximBet.
The new brand, called MaximBet, will feature a market-leading sports betting and casino website and will be available for iOS and Android devices. It will provide sports betting as well as casino entertainment for users in the United States and around the world. The new company will leverage Maxim's integrated network of print, digital and social platforms to engage the loyal Maxim community and sports bettors alike.
Maxim Is the Perfect Partner for Carousel
Daniel Graetzer, CEO of Carousel Group said Maxim has successfully established itself as a pre-eminent lifestyle brand for the past 25 years and its goal is to provide sophisticated entertainment and VIP experiences to the same group of customers, making Maxim the perfect partner for CGM.
Susan Kilkenny, Maxim's Senior Vice President, said the company seeks to bring its audience new and engaging experiences and acknowledged that Maxim is incredibly excited to enter the sports betting market with its partner, Carousel Group.
About Maxim
Maxim is a multimedia company with expertise in print, digital, social, events, licensing, and the annual Maxim Cover Girl contest. He knows how to create an experience of incomparable luxury that is part fantasy, part aspirational and part achievable, publishing 9 editions available in 75 countries.
Maxim.com and social media connect with more than 10 million mobile people monthly and Maxim Experiences brings the brand to life in epic proportions.
MaximBet wants to capture the US online gambling market
Late last year, Carousel entered the regulated US gaming market as a sports betting operator. Carousel Group has entered into a 10-year multi-state partnership with Caesars Entertainment, Inc. and its online sportsbook is available to customers in New Jersey, Indiana and Iowa, as well as its online casino in New Jersey, at waiting to obtain the necessary gaming licenses.
The Company is delighted to share that its first strategic investment in the US online gaming industry. In March, ZKIN announced the formation of its new wholly owned subsidiary, xSigma Entertainment Limited, with the intention of from acquiring online gaming assets to increase shareholder value.
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 and nearly $60 billion by maturity.
About Carousel Group
Carousel Group is a fast growing licensed casino and sportsbook operator established in 2017. Its primary mission is to create a sportsbook focused on building long-term relationships with customers, through the promotion of responsible gambling and the practice of of corporate social responsibility, while offering exceptional gaming experiences. Formed by senior executives with more than 100 years of collective experience in the gaming industry, Carousel Group uses proprietary technology to create personalized betting experiences.
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