Carousel Group—a privately-held licensed sports betting and casino operator—is forming a global strategic partnership with Maxim called MaximBet.
MaximBet will encompass a market-leading sports betting and casino website at MaximBet.com and tailor-made native iOS and Android apps that will allow users to bet on sports and casinos in the U.S. and around the world.
The new venture will leverage Maxim’s integrated network of print, digital, social and experiential platforms to engage the loyal Maxim community and sports bettors alike.
“Maxim has established itself as a preeminent lifestyle brand over the last 25 years, and with Carousel’s strong experience in the online betting space, together we will be able to establish a powerful new gambling brand,” said Daniel Graetzer, CEO of Carousel Group.
“Our mutual objective to provide premiere entertainment and VIP experiences to the same customer demographic makes Maxim the perfect partner for Carousel and we can’t wait to launch MaximBet in the next 90 days.”
In conjunction with its strategic partnership with Maxim, Carousel Group also announced the closing of its Series A investment round with $50M funding from xSigma Entertainment Limited.
xSigma is a wholly owned subsidiary of Nasdaq listed ZKIN International Group— a diversified, innovative, tech-forward company that is pleased to act as a capital partner to MaximBet. Funds will be used to drive growth into additional US States and for marketing purposes.
Carousel Group entered the U.S. gaming market as a sports betting operator in late 2020, and it rapidly secured market access deals in New Jersey, Colorado, Indiana, and Iowa.
Carousel boasts scalable and self-managed infrastructure that includes proprietary technology as well as in-house trading and risk management teams.
“We are always looking to provide the Maxim audience with new, rich and engaging experiences, and are incredibly excited to be entering the sports betting and iGaming space with our partners, Carousel Group,” said Maxim SVP Susan Kilkenny.
“Together, we feel that MaximBet has the power to innovate and elevate the online sports betting and iGaming market.”
MaximBet intends to capture a significant share of the U.S. online gambling market, projected to be an annual $10 billion industry by 2025.