The licenses enable FansUnite to deliver its suite of iGaming products and deploy its B2C betting solutions within the United Kingdom
Vancouver, British Columbia--(Newsfile Corp. - August 5, 2021) - FansUnite Entertainment Inc. (CSE: FANS) (OTCQX: FUNFF) ("FansUnite" or the "Company") is pleased to announce today that its subsidiaries, Askott Entertainment Inc. and E.G.G. Limited, have been granted licenses from the UK Gambling Commission ("Gambling Commission"), enabling the Company to serve as a Business-to-Business ("B2B") technology provider and Business-to-Consumer ("B2C") operator in the UK online gambling market.
The UK is one of the world's largest online betting markets.1 From 2019 to 2020, the UK gambling industry, which comprises 30.2 million registered adult bettors, generated a gross gambling yield of £14.26 billion.2
Through its subsidiaries, FansUnite has received a remote gambling software license and remote betting license from the Gambling Commission. These licenses allow FansUnite to supply its B2B wagering platforms to UK sportsbooks and casino operators, and deliver its B2C betting solutions to the UK marketplace. The Company previously announced that it had submitted its license applications on March 4, 2021.
FansUnite already holds both B2B and B2C gaming licenses in Malta.
"The approval of both the B2B and B2C licenses represents a significant milestone for us as we can now expand our operations to one of the largest online gambling markets in the world," said Scott Burton, CEO of FansUnite. "The UK Gambling Commission's approval of our application for these licenses opens the door for FansUnite to showcase the strength and robustness of our advanced technology in this market. As we enter our next phase of global growth, we will look to partner with betting operators in the United Kingdom and deploy our wagering solutions to capitalize on the UK's large population of online bettors."
About FansUnite Entertainment Inc.
FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. FansUnite has produced a one-of-a-kind complete iGaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. The platform operates multiple B2C brands and B2B software for the online gambling industry. FansUnite also looks to acquire technology platforms and assets with high growth potential in new or developing markets. The Company also provides technological solutions and services in the global gaming and entertainment industries. Its technology includes fixed/parimutuel odds, in-stream betting, live betting, casino-style games, cryptocurrency wallet and news content.
For further information, please contact:
Prit Singh, Investor Relations at FansUnite
ir@fansunite.com
(905) 510-7636
Scott Burton, Chief Executive Officer of FansUnite
scott@fansunite.com
Darius Eghdami, President of FansUnite
darius@fansunite.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" and "forward-looking statements" with the meaning of applicable Canadian and U.S. securities legislation (collectively, "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "belief," "expects," "intends," "anticipates," "potential," "should," "may," "will," "plans," "continue" or similar expressions to be uncertain and forward-looking. Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events such as: expectations of the effect on our operations of the UK Gambling Commission licenses; FansUnite's ability to fulfill technology needs with its platform; business development plans of FansUnite; legal framework; the Company's unique portfolio of assets; and discussion of future plans, projections, objectives, estimates and forecasts and the timing related thereto. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results, level of activity, performance or achievements may differ materially from those expressed or implied in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: inability to obtain or maintain license(s); risks related to global pandemics, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens; and influence of macroeconomic developments. Additional information regarding the risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Short Form Prospectus dated July 9, 2021 filed on its issuer profile on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. FansUnite disclaims and does not undertake to update or revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
References:
1. https://www.businessfirstonline.co.uk/advice/uk-online-gambling-statistics/
2. https://www.businesstelegraph.co.uk/uk-online-gambling-revenue-and-statistics-2020-2025/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92112
