Nuvei expands sports betting payment processing into Colorado
DENVER, Sept. 29, 2020 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, announced today that it has received its sports betting vendor license from Colorado’s Division of Gaming. This permits the Company to process payments within the state’s boundaries on regulated sports betting sites and apps.
After winning approval to do business in the state of Indiana last month, Nuvei will now be able to offer its full-service payment solutions, including Cashier – its innovative and customizable pay-in and pay-out platform – to the iGaming and sports betting industries in Colorado. This approval is part of the Company’s ongoing strategic plan to support the growing U.S. sports betting industry.Sports betting was legalized in Colorado as of May 1 of this year after approval by state voters in November 2019. Legal bets must be placed with authorized sportsbooks and operators.Nuvei can now provide gaming operators and companies with seamless payment services for customers over the age of 21 who place legal wagers on games in the National Football League (NFL), Major League Baseball (MLB), the National Basketball Association (NBA), the National Hockey League (NHL), and any other professional and amateur sports betting transactions across the State.“This approval will continue to fuel our expansion as we look to grow our iGaming footprint in the U.S.,” said Philip Fayer, Nuvei’s chairman and CEO. “We are extremely honored to be able to support Colorado gaming operators as they look to process their customers’ sports betting payments securely and with ease.”The U.S. Supreme Court ended the federal ban on sports betting in May of 2018. Today, approximately 75 percent of all U.S. states have legalized sports wagering or are in the process of doing so.About NuveiWe are Nuvei, the 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 offers direct connections to all major payment card schemes worldwide, supports 450 local and alternative payment methods (assuming the successful completion of the Company’s acquisition of Coöperatieve Vereniging Smart2Pay Global Services U.A.) and nearly 150 currencies. Our purpose is to make our world a local marketplace. For more information, visit www.nuvei.com.Contact:Investor Relations