Nevada Gaming Holding has formally accomplished the acquisition of Spacesiks, the proprietor of Cosmolot, Ukraine’s pioneering on-line playing enterprise because the nation legalized playing in 2020. This acquisition not solely broadens Nevada Gaming Holding’s worldwide portfolio but additionally highlights its dedication to bolstering Ukraine’s economic system throughout a vital interval.
Strategic acquisition marks international growth for Nevada Gaming Holding:
The negotiations, which commenced on the Munich Safety Convention in February 2024, culminated in a major growth technique for the funding agency. Arnulf Damerau, President and CEO of Nevada Gaming Holding, expressed his strategic intent, stating, “Because the invasion started, I’ve supplied focused help to Ukraine, however I wished a extra systematic method.” Damerau additional detailed his funding method: “A yr in the past, I invested our household workplace funds into Spacesiks to discover the market and increase my stake, reinvesting dividends into different Ukrainian IT firms alongside philanthropic efforts.”
Since securing Ukraine’s first on-line playing license in February 2021, Cosmolot has performed a pivotal function in shaping the native playing business, working completely via its web site, cosmolot.ua. Regardless of dealing with challenges in 2024, the corporate has proven exponential progress from 2022 to 2023—changing into one among Ukraine’s prime ten taxpayers, with contributions exceeding UAH 3.5 billion or $85 million (USD) in 2023 alone.
“In 2024, Spacesiks encountered obstacles in Ukraine, however we noticed alternative,” Damerau remarked, in keeping with EZ Newswire. “With help from international auditing and legislation companies, we resolved all excellent points. In the course of the Munich Safety Convention, we determined to totally purchase Spacesiks and scale its market-leading know-how platform globally.” This resolution, finalized final week, represents a major milestone for international direct funding in Ukraine.
World growth and licensing initiatives:
Following the acquisition, Damerau plans to advertise funding alternatives in Ukraine and propel Cosmolot into main markets throughout the U.S., Europe, and past. With Nevada Gaming Holding’s monetary help, the corporate is pursuing licenses in a number of EU international locations and U.S. states, together with Germany, Bulgaria, the UK, France, Greece, Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia.
Nevada Gaming Holding goals to leverage Cosmolot’s sturdy market place and its superior, vertically built-in know-how platform to guide the Ukrainian and European playing sectors. The corporate’s strategic method entails streamlining inside processes and enhancing collaborations with key stakeholders to develop a resilient and compliant enterprise framework, aligning with its long-term portfolio growth and accountable enterprise growth methods.
The worldwide on-line playing market is experiencing fast progress, projected to achieve $95 billion in income in 2024 and anticipated to develop to $131.9 billion by 2027. With the U.S. being the most important on-line and land-based playing market globally, Cosmolot is positioning itself for a U.S. IPO in 2026, anticipating a market cap exceeding $1 billion. This aligns with the corporate’s strategic progress plans and is indicative of its potential within the burgeoning international playing business.
