Nuvei Granted Approval to Process Sports Betting and iGaming Payments in Michigan
Nuvei to provide payment processing technology and expertise to Michigan’s online gaming operators
MONTREAL and DETROIT, May 20, 2021 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the payment technology partner of thriving brands, announced today that its wholly owned subsidiary has been granted approval by the Michigan Gaming Control Board to provide its services to licensed and regulated online sports betting and iGaming operators within the state.
Online sports betting in Michigan was legalized in January 2021. With growing demand in the sports betting and iGaming sectors driven by the number of brands going live and a large state population, operators and platforms now stand to benefit from Nuvei’s innovative payment technology and decades of industry expertise to further fuel their growth.
Nuvei is currently permitted to provide its services to licensed and regulated online sports betting operators in 10 states.
About Nuvei
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform connects merchants in 200 markets worldwide with local acquiring in 44 markets, supports 470 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
Forward-Looking Information
This presses release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regards to the potential opportunities arising from Nuvei’s Michigan sports betting and iGaming vendor approval. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include but are not limited to those described under the “Risks Factors” section of the Company’s annual information form filed on March 17, 2021. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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