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Gamblit receives $25m boost to continue Nevada expansion

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gamblitnevada
isher of real money and skill gaming for land-based casinos, Gamblit has announced that is has managed to raise $25m in new growth financing. Thanks to new investor relationships, the influx of capital will aid the company in its future expansion plans.

Gamblit Chairman Miles Arnone comments: “As Gamblit prepares for a full commercial launch of its gaming products in Las Vegas and other gaming jurisdictions, we’re confident our new investor relationships will drive growth as they share in our vision.”

Chief Executive Eric Meyerhofer adds: “There is significant demand from casino operators for our innovative products. We have begun to launch field trials in Las Vegas under the Nevada Gaming Control Board’s New Innovation Beta program, and player engagement has been very strong.”

The announcement follows the recent news that Gamblit has made further movements to enhance its market presence in Nevada via product launches with MGM Resorts and Caesars Entertainment.

Gamblit installed two games at Caesars Entertainment’s Planet Hollywood casino in March earlier the year. It also launched games at the MGM Grand after installations at Harrah’s Lake Tahoe and other gaming venues within the state.

Both MGM Resorts and Caesars Entertainment have expressed their intent to focus their efforts on offering new skill-based games.

President and COO of MGM Grand, Scott Sibella comments: “MGM Grand has developed an exciting, interactive community gaming space that offers players the opportunity to compete against one-another.

“We are committed to keeping our gaming experience fresh and exciting for our guest and our partnership with Gamblit Gaming brings this vision to life.”

Darion Lowenstein, Gamblit Gaming Chief Marketing Officer told Market Insider: “I grew up in video game arcades – and loved LEVEL UP at MGM Grand at first sight! It’s fun and social environment is a perfect fit for Gamblit’s high-energy, arcade-like gaming experiences.”

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