Nuvei Approved to Process Payments for Online Sportsbook Operators in New York
Nuvei Corporation (Nasdaq: NVEI) has received approval from the New York State Gaming Commission to process payments for newly licensed digital sports betting platforms. This includes five approved operators: Caesars Sportsbook, BetMGM, DraftKings, FanDuel, and Rush Street Interactive. The approval allows New Yorkers to place bets online, enhancing accessibility beyond physical betting locations. CEO Philip Fayer noted this development as a strategic move to support the expanding online sports betting industry, utilizing Nuvei's advanced payment processing solutions.
- Approval to process payments for five licensed digital sports betting platforms in New York.
- Enhancement of online betting accessibility for New Yorkers.
- Strengthening of strategic alliances with US-regulated operators.
- None.
MONTREAL, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands, announces today it has been granted approval by the New York State Gaming Commission to process payments with recently licensed digital sports betting platforms launching in the state.
The commission approved five operators this month - Caesars Sportsbook, BetMGM, DraftKings, FanDuel and Rush Street Interactive - to accept mobile and online sports wagers.
Nine operators are expected to be fully operational once regulatory approvals are finalised.
The regulatory reform means New Yorkers can make wagers on their preferred digital devices, rather than being limited to brick & mortar betting stores.
“Nuvei announced strategic alliances this past year with multiple US-regulated operators. We are pleased to now be supporting online sports betting operators and platform providers with a convenient, fast and secure payments capability to serve their New York customers,” said Nuvei Chair and CEO Philip Fayer. “This marks another step in our journey to expand with the growing industry as several states and countries are in the process of regulating online sports betting.”
Drawing on its deep roots with leading iGaming operators internationally and capabilities in the U.S. market, Nuvei stands as a proven solution provider to assist New York operators with industry expertise and payment processing technology. This includes a revenue optimization suite, providing frictionless deposit experience for millions of players through a variety of payment methods including cards, ACH and digital wallets, net deposits, real-time fraud prevention, risk management, and instant payouts.
About Nuvei
We are Nuvei (Nasdaq: NVEI) (TSX: NVEI), 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 provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 45 markets. With support for over 500 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
For more information, visit www.nuvei.com.
Attachment
FAQ
What recent approval did Nuvei Corporation receive from New York State?
Which companies are the approved digital sports betting operators in New York?
How does Nuvei support online sports betting platforms?
What is the significance of the payment processing approval for Nuvei's business?
