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Nuvei Granted Approval to Process Sports Betting Payments in Virginia

03/17/2021
The Virginia Lottery approves fintech provider Nuvei for sports betting payment transactions

MONTREAL and RICHMOND, Va., March 17, 2021 (GLOBE NEWSWIRE) -- Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, announced today that its wholly owned subsidiary has been approved to support the sports betting industry in Virginia.

The Virginia Lottery has issued a sports betting vendor registration to Nuvei in accordance with the state’s sports betting regulation. The Company can now offer its innovative payment technology and industry expertise to provide an optimized payment experience and increased revenue opportunities for licensed gaming operators across the state.

The Virginia state legislature approved sports betting on April 22, 2020 and online sports betting launched in the state on January 21, 2021. Virginia boasts the 12th-largest population in the United States, offering a lucrative market for sports wagering.

Nuvei has previously received approval for sports betting in the states of Colorado, Indiana, Tennessee and West Virginia.

About Nuvei

We are Nuvei (TSX: NVEI and NVEI.U), the global 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 in over 200 markets worldwide, supports 455 local and alternative payment methods and nearly 150 currencies. Our purpose is to make our world a local marketplace.

For more information, visit www.nuvei.com.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regards to the potential opportunities arising from Nuvei’s Virginia sports betting vendor approval. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to those described under “Risk Factors” in the Management’s Discussion and Analysis of financial condition and results of operations dated March 10, 2021. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Contact:

Investor Relations
IR@nuvei.com

Public Relations
PR@nuvei.com


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