Nuvei to Add Arizona Event Wagering and Fantasy Sports Payments

A subsidiary of global payment technology platform Nuvei Corporation now has an event wagering and fantasy sports supplier license in Arizona, following the legalization of online sports betting in the state in April and the launch of regulated sportsbooks and sportsbook apps in September, according to a press release.

Arizona officials estimate sports wagering will be worth more than $3 billion per year and could generate $200 million in gaming revenue for the state, the release stated.

The Arizona Department of Gaming’s approval allows Nuvei to grow its U.S. online sports betting footprint into another state. The company was granted an online gaming service provider vendor registration in Connecticut in October, according to a separate press release.

Also in October, Dutch state-owned company Holland Casino selected Nuvei to provide “custom solutions for player acquisition, verification and payment provided through one integration” for the country’s first online casino.

Read more: Capital Investments Help Payment Infrastructure Firms GPS and Nuvei Make Major Moves Across EMEA Region

Holland Casino operates 14 casino establishments across the Netherlands and has the legal monopoly on gambling in the country.

Nuvei last month sold 1.5 million subordinate voting shares in the company in the U.S. and Canada in its initial public offering (IPO) in the U.S. It is now trading on Nasdaq under the symbol NVEI.

See more: Nuvei Offers 1.5M Voting Shares in US IPO

Nuvei plans to use the proceeds from its IPO for growth. The company has also filed a preliminary prospectus supplement to its amended and restated short form base shelf prospectus dated May 20, 2021, in both the U.S. and Canada.

Nuvei Corporation recently joined forces with payment and marketplace platform Limonetik to boost its services in Europe and drive global expansion, allowing Limonetik to capitalize on Nuvei’s European acquiring services and integrate international acquiring.

Read more: Limonetik, Nuvei Team on EU Vendor Payment Capabilities