Greenlite Ventures has announced its acquisition of NoLimit Technology Holdings. The deal, whose financial details remain undisclosed, is set to conclude following a due diligence period of 30 to 45 days.
Strategic move towards a crypto-enabled future
NoLimit, a company known for its gaming-related products including the NoLimit Betting Exchange and a crypto-powered Daily Fantasy Sports (DFS) platform, is now part of Greenlites expanding portfolio. Greenlite has also expressed its intention to launch a user-friendly cryptocurrency exchange that complies with relevant laws in the future. Greenlite chairman Russell Elbaum expressed his excitement about the acquisition, stating that the launch of their new Sports Podcast Network, led by Defos Bury Your Bookie show, is set to drive significant daily traffic to NoLimits exchanges and platforms. He believes that this will allow them to leverage their celebrity partners and abundant media opportunities to establish a powerful niche in the rapidly growing $300 billion industry.
Post-acquisition, NoLimit founder Rafael Groswirt will continue to lead the business.
He sees Greenlites resources and platforms as a means to compete with industry leaders and predicts that Greenlites sports and media connections will enable partnerships and white-label collaborations with major players in the sector. Founded in 2014, NoLimit started as a crypto-focused online gaming business based in California. Its first product was a cryptocurrency called NoLimitCoin, designed to support fantasy sports platforms, including NoLimits own system. The company has also integrated AI with its cryptocurrency and other products, marking a new era of excellence and innovation in the online sports betting industry.
As Groswirt stated in 2023, 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.
With this acquisition, both Greenlite and NoLimit have opened the doors to investors, partners, and enthusiasts to revolutionise the sports betting landscape.
