Novibet Pursue its Expansion, Entering New Jersey with Ceasars Entertainment Deal

With the signing of a new multi-year deal with Caesars Entertainment, Novibet's owner Logflex MT Holding Limited, will be able to start up its online sports betting and iGaming businesses in New Jersey. The company has highlighted three significant achievements in North America, including winning market access in New Jersey and Mexico and filing an application for an Ontario license.

Novibet New Deal 

Caesars Entertainment and Novibet have partnered, according to recent news. Following a report on the business's North American growth, Novibet and Caesars Entertainment have struck a multi-year access deal under which the latter will provide online gaming and sports betting services in New Jersey.

“The expansion of our iCasino platform into new regulated markets, including 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.” Says the Novibet Chief Executive Officer: George Athanasopoulous. 

Agreement In New Jersey and Pennsylvania

For the first ten years, the agreement states that Novibet will be able to conduct business in New Jersey lawfully. Similar to another agreement Novibet recently reached, this one allows the company to start an online gaming business in Pennsylvania. However, neither sports betting nor internet poker is included in the PA agreement.

The New Jersey arrangement comes after a ten-year agreement Novibet made earlier this year to run an online casino business under the Novibet brand in Pennsylvania (excluding an online sportsbook or online poker). 

Both contracts depend on Novibet acquiring all required operating, service, and governmental approvals. In 2023, Novibet intends to make its novibet.com brand-named websites available in Pennsylvania and New Jersey.

Mexican and Canadian markets in 2022

Through a collaboration with physical operator Big Bola Casinos, the operator has obtained market access for iGaming and online sports betting in Mexico. Only 14 companies, including Big Bola, are authorized to provide legal sports betting and online casino services nationwide.

Athanasopoulous also comment about the planes outside America: "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.”

According to the terms of the deal, Novibet will be in charge of all player recruitment, retention, and promotion efforts. Big Bola will receive a portion of any revenues generated by the Novibet.mx brand. In Mexico, the brand is anticipated to launch in the second part of 2022. 

Novibet has applied for a license with the Alcohol and Gaming Commission of Ontario and is working on getting it to enter the regulated sports betting and online gaming sector in Ontario which would be their first market in Canada’s iGaming business .