Nevada Gaming Holding Finalizes Acquisition of Ukraine's Leading Online Gambling Platform, Cosmolot

Nevada Gaming Holding, a U.S.-based investment manager specializing in tactical pre-IPO opportunities in entertainment and gaming, today announced the successful acquisition of Spacesiks, owner of Cosmolot—Ukraine's first and largest online gambling company since the legalization of gambling in 2020.

This acquisition marks a significant expansion of Nevada Gaming Holding's international portfolio and underscores its commitment to bolstering Ukraine's economy during a pivotal time. Negotiations began in February at the 2024 Munich Security Conference and have now reached completion.

"Since the invasion began, I've provided targeted support to Ukraine, but I wanted a more systematic approach," said Arnulf Damerau, President and CEO, Nevada Gaming Holding. "A year ago, I invested our family office funds into Spacesiks to explore the market and expand my stake, reinvesting dividends into other Ukrainian IT companies alongside philanthropic efforts."

Securing the first online gambling license in February 2021, Cosmolot has been instrumental in Ukraine's gambling industry. It operates solely through its Ukrainian website cosmolot.ua. Despite exponential growth from 2022 to 2023—placing it among Ukraine's top ten taxpayers, with contributions exceeding UAH 3.5 billion or $85 million (USD) in 2023—the company faced challenges in 2024.

"In 2024, Spacesiks encountered obstacles in Ukraine, but we saw opportunity," Damerau continued. "With support from global auditing and law firms, we resolved all outstanding issues. During the Munich Security Conference, we decided to fully acquire Spacesiks and scale its market-leading technology platform globally. Finalized last week, this investment is a major milestone for foreign direct investment in Ukraine."

"Following the acquisition and securing of guarantees for the safety of foreign investments, I will promote investment opportunities in Ukraine and expand Cosmolot into major markets in the U.S., Europe, and beyond," added Damerau. "With Nevada Gaming Holding's financial backing, we're obtaining licenses in the EU and the U.S., including Germany, Bulgaria, the UK, France, Greece, and several U.S. states such as Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia."

Nevada Gaming Holding plans to leverage Cosmolot's strong market position as one of the most advanced, vertically-integrated technology platforms for gaming, eSports, and gambling. The goal is to solidify leadership in the Ukrainian and European gambling sectors and boost contributions to Ukraine's state budget.

By streamlining internal processes and enhancing collaboration with key stakeholders, Nevada Gaming Holding aims to build a more resilient and compliant business framework. This aligns with the company's long-term strategy of portfolio expansion and responsible business development, ensuring Cosmolot's sustained growth while aiding Ukraine's economic recovery.

The global online gambling market is booming, projected to hit $95 billion in revenue in 2024 and grow to $131.9 billion by 2027. The U.S. is the largest land-based and online gambling market globally, with $25 billion in online gambling revenue in 2024 and a total gambling market capitalization of $300 billion. This move aligns with the company's strategic growth plans.

Nevada Gaming Holding is a U.S.-based investment manager specializing in tactical pre-IPO opportunities in entertainment and gaming. The company focuses on acquiring gambling businesses facing challenges, aiming to restructure operations, restore financial stability, and enhance profitability. Targeting enterprises with significant recovery potential, Nevada Gaming Holding navigates issues such as regulatory hurdles and government lobbying complexities following liquidity events. For more information, visit https://www.globalgamingholding.com.

Cosmolot (Spacesiks) became the first Ukrainian gambling company to receive a license to organize and conduct online gambling activities in February 2021. Its primary focus is the online entertainment platform cosmolot.ua, emphasizing safe gambling practices and offering small-stakes games. Collaborating with approximately 50 gaming providers, Cosmolot offers a diverse range of entertainment options. The company prioritizes social projects and responsible gambling, having initiated the launch of Braveinventors (braveinventors.com), the largest defense technology accelerator in Ukraine, now run by Brave Foundation and funded by Arnulf Damerau. 

Committed to responsible corporate citizenship, Cosmolot applies international compliance and anti-money laundering standards to its platform. Advised by the leading four global auditing firms, Spacesiks undergoes continuous auditing to ensure compliance with legislative and regulatory standards, aiming to set industry benchmarks. Cosmolot is also advised by leading global law firms. To learn more, visit https://cosmolot.ua.

Arnulf Damerau is a globally-active entrepreneur and philanthropist who started his first company at age 16, later transforming it into the New York-based family office EuroAtlantic Group. His most notable investment was a multimillion-dollar pre-IPO investment in Crowdstrike, the world's leading cybersecurity firm. Together with Luxembourg-based family office LVS Hotels & Resorts SA, focusing on hospitality investments, he decided to invest in Nevada Gaming Holding. Arnulf Damerau donated significant funds that were used by Braveinventors for 50+ Punisher drones to support the Ukrainian Armed Forces during the Russian-Ukrainian war. Arnulf Damerau is advised by Dentons.