ZK International Group Co., Ltd. announced that it increased its ownership position in Maximbet.com to 15.73 percent by investing $10M.
MaximBet is a privately held internationally licensed sports betting and casino company focusing on capitalizing on the recent legalization of sports betting in the United States. The US market is expanding rapidly, with transactions up 126 percent year over year. According to Cathie Wood’s ARK Investment Management LLC, total betting in the United States may grow 9 times to $180 billion by 2025.
ZKIN is ecstatic to own a significant ownership stake in MaximBet, with the opportunity to grow its holdings to 25%. The Company’s option was successfully extended until 1st January 2022. MaximBet, according to ZKIN, has the experienced team, innovative ideas, operational knowledge, and marketing strength to compete with the industry’s top multibillion-dollar companies.
In August, Maximbet.com debuted its international site, which went live on September 2nd in Colorado. It was part of its 10-year multi-state market-access relationship with Caesars Entertainment; it will continue to grow into Indiana, Iowa, and New Jersey in Q4’21.
MaximBet will continue to expand into new states in 2022, with the company aiming to be operational in at least half of the legalized US market by the end of 2021.
About ZK International Group
ZK International Group Co., Ltd. (ZKIN) is a Chinese engineering firm that develops and invests in cutting-edge technology. Currently, it holds 28 patents, two Technical Achievement Awards, and high Standard Awards—it emphasis more on executing next-generation solutions via industrial, environmental, and software engineering methods.
ZKIN’s primary business is to design and produce patented top-quality stainless steel and steel-carbon piping products for China, Europe, and Asia. IT efficiently supplies high-sustainable and ecologically sound potable water.
It is an ISO9001-certified quality management system and a National Industrial Stainless Steel Production Licensee. ZKIN also supplies stainless steel pipelines to more than 2,000 projects, including the Beijing National Airport and some leading Olympic 2008 sites.
Maximbet.com was founded in 2017 and is a fast-growing licensed sports casino operator with a laser-like concentration on profiting on the multi-billion dollar regulated sports waging and iGaming market in the United States. The firm was founded by senior executives carrying years of gaming industry expertise, and it uses proprietary technologies to provide tailored consumer betting experiences.