Sportsbook and casino operator Midnite has received a credit financial deal worth up to $100m to support growth in the UK market.
The financing deal for Midnite, worth up to $100 million, was secured from House Advantage Fund (HAF), with a view for the sportsbook and casino operator to keep growing in the UK iGaming market. The company has goals to become a tier-1 operator.
Specifically, Midnite intends to use the funds to build a cash reserve for non-marketing investments, using them to invest in hiring and product development without impacting top-line revenue. The goal is to scale at speed, without cutting into revenue and profit.
“This partnership allows us to triple down on both performance and brand marketing campaigns, while preserving cash for innovation and expansion.” said Nicholas Wright, Midnite’s Chief Executive Officer. “The flexibility of the House Advantage structure means we can pursue our long-term strategy with greater conviction and fewer trade-offs.
“This arrangement also signifies the strength of the partnership Midnite has with Discerning Capital. The confidence the team has in what we are doing at Midnite allows us to strive for continued growth and execute our strategy to disrupt the gaming industry for good.”
HAF is a specialised user acquisition financing strategy, with funds provided by Discerning Capital, a Las Vegas-based growth capital investment firm with history and experience in the regulated gambling and gaming sectors. The firm had already led Midnite’s Series B funding round earlier this year.
“For too long, the growth trajectory of online wagering operators has been constrained by the limitations of traditional venture capital or credit, which is hard to obtain across the broader gaming ecosystem,” said Davis Catlin, Managing Partner at Discerning Capital. “By tying capital deployment to actual marketing performance, we unlock sustainable, aggressive scale without forcing operators into unnecessary equity dilution or onerous repayment structures. This credit facility for Midnite sets a new benchmark for how ambitious firms in our sector can finance growth.”
Rapid growth for Midnite
In April 2025, Midnite closed a successful round of series B funding that ended up being worth $10 million. As noted above, the funding round was led by Discerning Capital, alongside the Raine Group, Play Ventures, Venrex, and Big Bets. The total capital raised was more than $35 million.
Midnite has also been securing UK-specific sponsorships as part of its plans to grow in the region, including partnering with soccer teams and becoming an official UK partner in snooker.
Featured image: Midnite
The post Sportsbook Midnite receives $100m credit financing deal to grow in the UK appeared first on ReadWrite.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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