Pop Culture Icon Nicki Minaj Becomes Significant Stakeholder, Global Ambassador and Advisor to ZK International's Portfolio Company, MaximBet

Rhea-AI Summary

ZK International Group (Nasdaq: ZKIN) announced a multi-year global partnership with Nicki Minaj, the renowned rapper and media mogul, who becomes a significant stakeholder in MaximBet, a ZKIN portfolio company. ZKIN has invested US$25 million in MaximBet, holding 16% of the company. Minaj aims to enhance female participation in sports betting while leveraging her brand for marketing and fan engagement. MaximBet is expanding in the U.S. and Canada, targeting a growing market projected to reach US$58 billion by 2025.

Positive

• ZKIN invested US$25 million in MaximBet, owning 16% of the company.
• Nicki Minaj's partnership expected to broaden audience and increase female participation in sports betting.
• MaximBet plans to expand to nine additional U.S. states and Ontario, covering around 50% of North America's legal sports wagering market.
• The online sports-betting market is projected to grow at 32% annually, expected to reach US$58 billion by 2025.

Negative

• None.

WENZHOU, China, May 31, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that Nicki Minaj, the most successful female rapper of all time, entrepreneur and media mogul is bringing her artistry and influence to the world of sports betting through a multi-year, global partnership with MaximBet, a ZKIN portfolio company.

ZKIN has invested US$25 million into MaximBet and currently owns 16% of the company. Mr. Huang, Chairman and CEO of ZKIN stated, "We remain committed to, and excited by, our investment in MaximBet. Competitors in the space have multi-billion-dollar market caps and we believe this investment holds tremendous upside for our shareholders that is not reflected in the current ZKIN share price".

Nicki Minaj is recognized for disrupting the male-dominated industry of rap music and is planning to do the same with sports betting. As a significant shareholder in MaximBet, Minaj brings her style and ethos to not only illustrate the lifestyle of our brand, but also to vastly broaden its audience. This includes inviting many more women to participate in sports betting. A lifelong sports fan, Minaj will work with MaximBet on branding, merchandise, creative activations, partnerships and fan experiences to bring together entertainment, sports, celebrities and betting.

MaximBet is currently live in the state of Colorado and is on track to launch in nine additional U.S. states and the Canadian province of Ontario, bringing MaximBet's total coverage to approximately 50% of the legal sports wagering market in North America. MaximBet is the only true lifestyle sports betting brand in the industry, rewarding players with real-life, "money can't buy" experiences. The ground-breaking partnership with Minaj allows the company to accentuate experiential sports betting even more by continuing to capitalize on the explosive growth of the sector. The total addressable market in the United States for online sports-betting and i-gaming is growing at 32% annually and is expected to reach US$58 billion by 2025 as confirmed by market research firm Eilers &Krejcik.

"I don't think I've ever been prouder of a collaboration," Minaj said. "Merging business savvy power moves with my natural, creative, sexy, fun, and fashion-forward expression is just so spot on as it relates to this partnership. I'm ready to fully step into my potential as a young, influential Queen and owner and open doors for others to dream big. Get ready for the sexy parties and remember: scared money don't make NO MONEY!!!! HA!!! Place your bets!!!! Let's GO!!!"

Minaj boasts 280 million social media followers and is the most followed rapper, seventh most followed musician, and 18th most followed person in the world on Instagram. Previous  partnerships have been widely successful including her collaboration with Fendi which immediately sold out everywhere. Merging her art and fashion, she quickly succeeded in reigniting the brand's popularity for Fendi logo print items with just one lyric in her 2018 hit song "Chun-Li." Minaj has recently achieved a similar impact with the likes of Burberry, Louis Vuitton, Crocs, DSQUARED2, Marc Jacobs, and more to the point where if she wears an item on social media, it instantly sells out online.

"Nicki Minaj is one of the most iconic and influential entertainers in the world," said Daniel Graetzer, CEO, MaximBet. "The conversion of entertainment and sport is happening at warp speed, and we've built a brand that can appropriately stand at the center of that. Nicki's business experience and relationships open a wealth of opportunity for MaximBet and her involvement as an owner will allow us to work together on decisions in all parts of the business."

For the latest news on MaximBet, please follow the company on Twitter at @MaximBetUSA. For Maxim, follow @maximmag.

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. is a China-based engineering company building and investing in innovative technologies for the modern world. With a focus on designing and implementing next-generation solutions through industrial, environmental and software engineering, ZKIN owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards.  

ZKIN's core business is to engineer and manufacture patented high-performance stainless steel and carbon steel pipe products that effectively deliver high quality, highly-sustainable and environmentally sound drinkable water to the Chinese, Asia and European markets.  ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee.  It has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the "Water Cube" and "Bird's Nest", which were venues for the 2008 Beijing Olympics.  ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which has been stated to be 70% unfit for human contact.  

In 2018, ZKIN established its wholly-owned xSigma Corporation to develop innovative software solutions that support its core operations while exploring new opportunities in smart contracts, distributed ledgers, supply chain management and blockchain architecture. The xSigma Labs team is made up of world-class developers and engineers formerly of Facebook, Google, Amazon, Ripple and 1inch, most recently launching its first DeFi project in the Fall of 2020. 

In March of 2021, ZKIN announced the formation of its new wholly-owned subsidiary, xSigma Entertainment Limited. It was established as part of ZK's integrated network of companies focused on developing and investing in innovative software technology platforms. xSigma Entertainment's mandate is to acquire assets in the high-growth US gaming market.  Sigma Entertainment aims to increase shareholder value by targeting and investing in early stage online gambling businesses that are poised for exponential growth and exits. 

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.

About MaximBet

MaximBet, which is owned and operated by Carousel Group and in partnership with Maxim Magazine, is an immersive entertainment and lifestyle experience, bringing the best in online betting and the coolest real-world experiences all onto one platform. MaximBet gives players incredible real-life and virtual access to celebrities, athletes, and influencers, and let guests truly live the Maxim lifestyle wherever they live and play. MaximBet is an Approved Gaming Operator of Major League Baseball (MLB) and the National Basketball Association (NBA).

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International.  Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For any questions regarding this release, please contact:

Di Chen
Cell Number: +86 15057357883
Email: super.di@live.cn 

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SOURCE ZK International Group Co., Ltd.

FAQ

What is the significance of Nicki Minaj's partnership with ZK International's MaximBet?

Nicki Minaj becomes a significant stakeholder and global ambassador for MaximBet, aiming to attract a broader audience, particularly women, to sports betting.

How much has ZK International invested in MaximBet?

ZK International has invested US$25 million in MaximBet and holds a 16% stake in the company.

What are the growth projections for the sports betting market?

The total addressable market for online sports betting is projected to grow at 32% annually, expected to reach US$58 billion by 2025.

In which states is MaximBet planning to expand its operations?

MaximBet is currently live in Colorado and plans to launch in nine additional U.S. states and the Canadian province of Ontario.

What impact does Minaj's social media following have on MaximBet?

With 280 million social media followers, Minaj can significantly enhance brand visibility and customer engagement for MaximBet.