{"id":207512,"date":"2022-03-31T11:35:31","date_gmt":"2022-03-31T18:35:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=207512"},"modified":"2022-03-31T11:56:24","modified_gmt":"2022-03-31T18:56:24","slug":"novibet-going-public-in-latest-gaming-spac-deal","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/","title":{"rendered":"Novibet Merging with SPAC Artemis Strategic Investment in $625M Deal"},"content":{"rendered":"

Logflex MT Holding Limited, the parent company of Novibet, is merging with a special purpose acquisition company (SPAC), and will list its shares in the US when that transaction is finalized.<\/p>\n

\"Novibet\"
The Nasdaq market site in New York, seen above. Novibet will list after that a SPAC merger. (Image: The Verge<\/em>)<\/figcaption><\/figure>\n

Artemis Strategic Investment Corporation (NASDAQ:ARTE) is merging into a newly formed unit of the gaming company in a deal sporting a pre-transaction enterprise valuation of $625 million. The SPAC\u2019s founders and current Novibet investors will own 75% of the new publicly traded firm when the merger is completed.<\/p>\n

Malta-based Novibet currently offers iGaming and sports wagering services in its home nation and in Greece, Ireland and Italy. The company is profitable, which cannot be said of many sportsbook operators<\/a>, and\u00a0rapidly growing.<\/p>\n

Novibet has grown gross gaming revenue at a compound annual rate of approximately 107% for the full year ended December 31, 2021, with earnings before interest, taxes, depreciation and amortization (EBITDA) during this period increasing at a compound annual rate of approximately 182%, according to a statement.<\/p><\/blockquote>\n

The company says the value of each of its users was $617 last year — up 69% over 12 months.<\/p>\n

Novibet Eyeing Global Expansion<\/h2>\n

Novibet said proceeds from the blank-check deal would fund global expansion efforts, including Europe, Latin America, and North America.<\/p>\n

\n

In Europe, the operator sees a $29 billion-plus total addressable market opportunity by 2026. It is also looking to expand beyond the quartet of aforementioned nations to Sweden, the Netherlands, Romania, Belgium, Hungary, Germany, France, and Spain via partnerships or mergers and acquisitions.<\/p>\n<\/div>\n

Additionally, gaming companies are expanding in Latin America<\/a>, confirming that operators see opportunity in the region. Analysts believe the combined online gross gaming revenue (GGR) in just Colombia and Mexico could eventually swell to $700 million. Novibet sees a more than $4 billion opportunity in the region.<\/p>\n

\u201cNovibet believes it is close to finalizing a market access agreement for Mexico with a land-based operator and is seeking to enter additional Latin American markets (Peru, Chile, Brazil, Colombia and Argentina) via a joint venture partnership or through strategic, accretive mergers and acquisitions,\u201d said the operator in the statement.<\/p>\n

Bullish Outlook<\/h2>\n

While SPAC fever cooled a bit<\/a> in the gaming space, due in large part to dramatic share price declines for deSPACed firms, Novibet is clearly testing the waters and its fortunes could be different than those of its predecessors.<\/p>\n

Additionally, the company is forecasting 2023 net gaming revenue of $200 million on EBITDA of $37 million.<\/strong><\/p>\n

In North America, Novibet has an agreement to provide iGaming in Pennsylvania, and is pursuing similar licensing in Ontario, Canada. The operator also expects to launch online casinos and sports wagering in New Jersey in the first half of 2023, and is looking to roll out internet casinos and\/or sports betting in Indiana, Iowa, Louisiana, Mississippi, and Missouri in 2023 or 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Logflex MT Holding Limited, the parent company of Novibet, is merging with a special purpose acquisition company (SPAC), and will list its shares in the US when that transaction is finalized. Artemis Strategic Investment Corporation (NASDAQ:ARTE) is merging into a newly formed unit of the gaming company in a deal sporting a pre-transaction enterprise valuation […]<\/p>\n","protected":false},"author":46,"featured_media":207514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\nNovibet Going Public In Latest Gaming SPAC Deal<\/title>\n<meta name=\"description\" content=\"Novibet is merging with a SPAC in a deal with a $625 million valuation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novibet Going Public In Latest Gaming SPAC Deal\" \/>\n<meta property=\"og:description\" content=\"Novibet is merging with a SPAC in a deal with a $625 million valuation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-31T18:35:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-31T18:56:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/nasdaq2-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/\",\"url\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/\",\"name\":\"Novibet Going Public In Latest Gaming SPAC Deal\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/nasdaq2-1.jpg\",\"datePublished\":\"2022-03-31T18:35:31+00:00\",\"dateModified\":\"2022-03-31T18:56:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Novibet is merging with a SPAC in a deal with a $625 million valuation.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/novibet-going-public-in-latest-gaming-spac-deal\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/nasdaq2-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/nasdaq2-1.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The Nasdaq market site in New York. 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