In reality, COVID-19 restrictions have helped several industries, with one of them being online gaming. At least temporarily, many casinos have closed to help slow the spread of the pandemic, which seems to be pushing more people to the Internet to get their gaming fix.
According to Grand View Research, online gambling globally is expected to expand at 11.5 percent annually from 2020 to 2027 to become a US$127.3 billion market.
FansUnite Entertainment Inc. (CSE:FANS) is a highly speculative opportunity in the space of sports and entertainment that seems to have some upward momentum over the past few months, particularly after completing what it calls a “transformative” merger with Askott Entertainment, adding to its set of businesses an esports wagering component.
Other divisions of FansUnite include FansUnite Sportsbook, which will take wagers on all pro, college, and regulated sporting events; BetMaker Labs, a B2B sports betting technology to introduce new sportsbooks; and McBookie.com, which focuses on the Scottish market and has more than 20,000 active members who over the past three years have put more than $100 million in bets.
McBookie is particularly notable, as it saw a 433 percent rise in sales year-over-year to $602,000 and a 713 percent increase in gross margin throughout October 2020, which “far exceeded” Mackie Research Capital analyst Bill Newman’s expectations, adding that the growth of the company could continue with the return of European sports leagues and new live casino offers.
He said that “FansUnite is a growth story within a rapidly-expanding iGaming industry and has the platforms, infrastructure, management team, and board to allow for rapid organic growth of its B2B and B2C revenue streams. In parallel, FansUnite is committed to completing strategic acquisitions which could result in rapid growth for the company and move it towards its goal of becoming a global online gaming leader.”
Global initiatives by FansUnite include a partnership agreement with GameCo LLC, based in Las Vegas, which holds gaming licenses in about 30 US jurisdictions.
The Company’s Askott Entertainment (Malta) Ltd. and E.G.G Limited subsidiaries were also recently been issued a Gaming Service License and a Critical Gaming Supply License from the Malta Gaming Authority, respectively, allowing them to provide a full range of online gambling services in Europe, including Casino, Fixed Odds Betting, Pool Betting, and Skilled Games.
And, in late November 2020, the Canadian government announced that it would introduce legislation to legalize single-event sports betting in Canada, a move FansUnite said it was positioned to capitalize on “if and when it happens.”
