By Chris Wack
ZK International Group Co. said it has made an additional investment of $10 million in Maximbet.com, increasing its ownership stake in the sports betting and casino operator to 15.73%.
Maximbet is a privately held, multi-state and globally licensed sports betting and casino operator focused on capitalizing on the expansion of the recently legalized sports betting market in the U.S.
ZK International has an option to increase its position to 25%, which it extended until Jan. 1, 2022.
Maximbet.com launched its international site in August and went live in Colorado on Sept. 2. It will continue to expand into Indiana, Iowa and New Jersey throughout the fourth quarter of 2021 as part of its 10-year multi-state market-access partnership with Caesars Entertainment.
ZK International shares were up 5% to $3.38 in premarket trading.
Write to Chris Wack at firstname.lastname@example.org
(END) Dow Jones Newswires