FansUnite, a Canadian sports betting company based in Vancouver, British Columbia, continues to expand its global jurisdictions. The company’s two subsidiaries, Askott Entertainment Inc. and E.G.G. Limited, recently received gambling licenses from the UK Gambling Commission to provide services to the local gaming markets.
FansUnite is a global sports and entertainment company based in Canada that offers gaming technologies to the regulated online gaming markets. Its iGaming platform impresses with outstanding online sports and eSports betting solutions. Pre-match betting, in-play betting, daily fantasy, a wide range of additional content, and a certified RNG to create chance games are all included.
European Expansion
The company has obtained a remote gambling software license as well as a remote betting license from the UK Gambling Commission through its subsidiary entities. The company will be able to supply its B2B wagering platforms to UK sportsbook and casino companies thanks to the permits. It will also be able to deliver its B2C products to market corridors in the local market.
The approval of the B2B and B2C licenses, according to Scott Burton, CEO of the Vancouver-based company, is a massive achievement for the company, which may now expand into one of the world’s largest gaming marketplaces. The company’s approval to enter a new market, he claims, is a statement of its strength and application of advanced technologies.
The company is also keeping a close eye on the gaming situation in Canada, where the Senate just passed a bill to improve sports betting offerings. The bill, known as Bill C-218, would change the Criminal Code to remove the prohibition on single-sport betting and allow provinces to offer it to their residents.
Individual event wagering is thought to put Canada in a contention to compete with the United States in the gambling market. Many gamblers will be stopped from traveling south to bet on major events such as the Super Bowl. Another reason for the expansion is to prevent Canadians from putting millions of dollars into offshore websites each year and using the money for the provinces.
Q1 Results
The Canadian entertainment and betting company released its official financial records for the first quarter of this year back in April. The company’s McBookie platform generated over CA$982,000 in gross gaming revenue, an increase of 136 % over the same quarter the previous year. With a total volume of bets placed on the online platform exceeding CA$28 million.
2020 Acquisition
FansUnite confirmed the formal acquisition of Askott Entertainment in a deal worth around CA$5 million in 2020, and it was finalized last summer. The parent company now provides the subsidiary with its premium range of sports and gaming solutions as a result of the acquisition. The company will receive 1.9193 shares of FansUnite for each share held at closing.
