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Greenlite Ventures announced on Friday (17 May) it would be acquiring NoLimit Technology Holdings for an undisclosed sum.

Greenlite said the deal is expected to finalise after a 30-45 day due diligence period.

NoLimit has released several gaming-related products including the NoLimit Betting Exchange and a crypto-powered DFS platform.

Greenlite added that the business also intends to release a cryptocurrency exchange in the future, that is promised to be user-friendly and compliant with relevant laws.

Greenlite chairman Russell Elbaum said: “With the launch of our new Sports Podcast Network led by Defo’s ‘Bury Your Bookie’ show, we’re primed to drive significant daily traffic to NoLimit’s exchanges and platforms.

“This gives us the opportunity to maximise the influence of our celebrity partners and the abundance of media opportunities at our disposal.

“Once bettors experience the game-changing advantages these platforms offer, we know we can quickly establish a powerful niche in this exploding $300bn industry.”

Founder to continue as CEO post-acqusition

NoLimit founder Rafael Groswirt (pictured), who will continue to lead the business post-acquisition, highlighted Greenlite’s resources and platforms as enabling it to compete with industry leaders.

He also predicted Greenlite’s sports and media connections will allow it to partner and white-label with major players in the sector.  

Groswirt said: “Together, we’re committed to seizing the myriad of opportunities that lie ahead.”

NoLimit was founded in 2014 as a crypto-focused online gaming business and is based in California.

The company’s first product was a cryptocurrency called NoLimitCoin, aimed at supporting fantasy sports platforms including NoLimit’s own system.

The business has also touted an AI integration with its cryptocurrency and other products.

“As NLTH integrates AI with our NoLimitCoin cryptocurrency, we are proud to pioneer a new era of excellence and innovation in the online sports betting industry,” said Groswirt in 2023.

“We invite investors, partners, and enthusiasts to join us in revolutionising the sports betting landscape.”

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