Benzinga | Nov 30, 2021 04:03PM EST

Nuvei Approved To Provide Payment Processing Services To Sports Wagering Operators In Louisiana

Nuvei Corporation ("Nuvei" or the "Company") (NASDAQ:NVEI) (TSX:NVEI), the global payment technology partner of thriving brands, has announced that its wholly-owned subsidiary has been granted permission to provide payment processing services to daily fantasy sports and sports wagering operators in Louisiana. The approval by the Louisiana Gaming Control Board enables the Company to support online sports betting across the state.

The Louisiana sports betting industry is expected to attract more than $200 million in operator revenue and over $2.5 billion in annual sports wagers(1). Louisiana's first four commercial retail sportsbooks started operating on October 31 and November 1, 2021. While online sports betting is anticipated to go live by January 1, 2022, consumers currently have access to pre-launch offers from online sportsbooks.

Nuvei's approval ensures that it can provide online gaming operators in Louisiana with its innovative payment technology and industry expertise, allowing them to accept more payment types and optimize transactions to drive additional revenue streams. Currently, the Company can offer its services to operators in 17 states where online wagering has been legalized, as it continues to expand its footprint across the U.S. Notable industry clients include Carousel Group, 888 and SI Sportsbook, PrizePicks, Triplebet/Matchbet, and BetMGM.