The Carousel Group announced a new partnership this week with men’s magazine Maxim. The sports betting and casino operator will work with Maxim to create a new online gambling brand titled MaximBet.com. The new iGaming site will include online casino and sports betting, with Maxim’s content a tool that will help engage the magazine community as well as sports bettors.
Details of the Partnership
Maxim has a large and loyal community that will be an audience of the new betting brand. Carousel Group will use the integrated network of Maxim, including print, digital, and social platforms, to engage a demographic spanning from sports bettors to the Maxim community.
Carousel Group CEO Daniel Graetzer commented on the partnership stating that Maxim is a preeminent lifestyle brand that has 25 years of experience. Combined with the experience of Carousel in the betting space, a powerful new gambling brand will be established.
The new brand should launch in three months and will provide a premier entertainment and VIP experience for the customer demographic of Maxim.
In conjunction with the new deal, the Carousel Group has also announced the closure of a Series A investment round. xSigma Entertainment Limited provided $50 million in funding. xSigma is a subsidiary of ZKIN International Group, which is a tech-forward company. They will act as a capital partner for MaximBet.
Carousel Group has provided sports betting in the United States since 2020. The company has deals in Colorado, Indiana, Iowa, and New Jersey.
RaceBook.com and SportsBetting.com
In 2019, Carousel Group decided to launch two new brands in the online gaming market: RaceBook.com and SportsBetting.com. One site is focused on racing while the other is focused on sports. With the launch of these sites a few years ago, the Carousel Group was provided licensing by the Malta Gaming Authority.
Because the MGA approved the two brands, the sites could launch in Latin America and Europe. The acquisition of the sites was completed during the fall of 2018. The company was able to attend SiGMA in Malta, and in the process, launch a new affiliates program, and provide a sneak peek into the two new brands.
The new deal with Maxim will allow the Carousel Group to reach a brand-new demographic and extend its reach with sports betting and online casino services. The partnership is different than the typical operator/gaming company deal and is a sign of how the online gambling industry in the US is changing and evolving as more stakeholders enter the market.