WENZHOU, China, Sept. 15, 2021 /PRNewswire/ -- ZK
International Group Co., Ltd. (Nasdaq:
ZKIN) ("ZKIN", "ZK International" or the
"Company"), is pleased to announce that it has made an
additional investment of $10M in
Maximbet.com ("Maximbet"), increasing its ownership stake in the
rapidly-growing sports betting and casino operator to 15.73%.
Maximbet is a privately-held multi-state and globally licensed
sports betting and casino operator hyper-focused on capitalizing on
the expansion of the recently legalized sports betting market in
the United States. The US market
is seeing rapid growth with year over year transactions
increasing by 126%. Cathie Wood's
ARK Investment Management LLC believes that total wagers placed in
the US could increase 9x to $180
Billion by 2025.
https://www.bloomberg.com/news/articles/2021-09-13/tech-verifications-show-big-jump-in-bets-as-football-begins
https://www.bnnbloomberg.ca/football-s-gambling-boom-has-investors-betting-on-the-house-1.1651135
ZKIN is thrilled to hold a significant equity position in
Maximbet with an option to increase its position to 25%. The
Company successfully extended its option until January 1, 2022. ZKIN believes Maximbet has the
management team, the technology, the operating expertise and the
brand marketing power to rival the largest multi-billion dollar
players in the space.
Maximbet.com launched its international site in August and went
live in Colorado on September 2nd. It will continue to
expand into Indiana, Iowa and New
Jersey throughout Q4'21 as part of its 10-year multi-state
market-access partnership with Caesers Entertainment. In 2022
Maximbet will continue its expansion to additional States with the
Company expecting to be live in at least 50% of the legalized US
market by the end of the year.
"The team at ZKIN continues to execute upon the Company's
strategy of sourcing, negotiating and investing in favorable
positions in high-growth sectors that we believe will provide short
to medium-term liquidity to ZKIN shareholders," says Jiancong Huang, Chairman of the Company. "ZKIN
will continue to support its investee companies as they explore
various exit strategies in the near future."
To learn more about MaximBet, and enter for a chance to win an
epic trip to the Big Game, visit http://www.MaximBet.com.
MaximBet's access to Arizona is
subject to license availability and regulatory approvals.
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. (ZKIN) 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. It is Quality
Management System Certified (ISO9001), Environmental Management
System Certified (ISO1401), and a National Industrial Stainless
Steel Production Licensee. ZKIN 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, launching its first DeFi project in the Fall of
2020, with plans to launch its highly anticipated NFT platform in
Q4'21.
In March of 2021, ZKIN announced the formation of its new
wholly-owned subsidiary, xSigma Entertainment Limited. It was
established as part of ZKIN'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. xSigma 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
Established in 2017, Maximbet.com is a rapidly-growing
licensed sports betting and casino operator that is hyper-focused
on capitalizing on the multi-billion dollar legalized Sportsbetting
and iGaming industry in the United
States. The company was formed by top executives with more
than 100 years of collective experience in the gaming industry and
utilizes proprietary technology to build personalized consumer
betting experiences. Harnessing the power of the Maxim men's
lifestyle brand, MaximBet gives players incredible real life
and virtual access to celebrities, athletes and influencers, and
lets guests truly live the Maxim lifestyle wherever they live and
play.
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.
Contact Person: Di Chen
Cell Number: +86 15057357883
Email: super.di@live.cn
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SOURCE ZK International Group Co., Ltd.