The joint press release revealed that, as a result of the merger, Artemis will become a wholly owned subsidiary of Novibet. Once the deal is completed, Artemis founders and existing Novibet shareholders will own approximately 75% of the merged company.
We see a significant growth opportunity in North America as our planned launch of operations in the U.S., Canada and Mexico will significantly grow our TAM
Novibet is currently licensed to operate in four regulated markets — Ireland, Italy, Malta, and Greece. The company plans to use the proceeds from the merger to implement a “multi-pronged growth strategy” that will see it expand into North American and Latin American markets.
Novibet and Artemis Strike $625 Million Merger DealSpeaking of the merger, George Athanasopoulos, Chief Executive Officer of Novibet said:
Novibet and Artemis Strike $625 Million Merger DealHolly Gagnon, Chairperson and Co-Chief Executive Officer of Artemis added:
“Novibet has a strong record of success developing a superior technical platform to address the global iGaming opportunity in a manner that delivers profitable financial performance and positive cash flow. This record, combined with its demonstrated ability to successfully and profitably enter new markets as well as the significant opportunity to leverage its competitive advantages in new markets, including in North America, aligns with our original investment thesis and makes Novibet an ideal partner for Artemis,”
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.