Casino News

FansUnite Expands European Operations

The Canadian sports betting company FansUnite situated in Vancouver, British Columbia continues to build its worldwide portfolio of jurisdictions. Most recently the company has acquired gambling licenses for its two subsidiaries Askott Entertainment Inc. and E.G.G. Limited from the UK Gambling Commission to provide their services to the local gaming markets.

FansUnite is a Canadian global sports and entertainment company that provides gaming technology to the regulated online fields. Its iGaming platform impresses with exceptional sports and eSports betting solutions in an online form. This includes pre-match betting, in-play wagering, daily fantasy, a broad range of even more content, and a certified RNG to produce chance games.

European Expansion

Through its subsidiary entities, the company has managed to obtain a remote gambling software license along with a remote betting license from the UK Gambling Commission. Through the permits, the company will be able to supply its B2B wagering platforms to the UK sportsbook and casino brands. It will also be able to deliver its B2C products to the local market corridors.

CEO of the Vancouver-based company, Scott Burton stated that the approval of the B2B and B2C licenses is a massive achievement for the firm which can now expand to one of the largest gaming markets in the world. According to him, the approval for the company to enter a new market is a statement of its strength and application of its advanced technology.

The company is also closely monitoring the gaming situation in its home Canada, as most recently the country’s Senate has passed a bill to improve sports betting offerings. The legislation known as Bill C-218 would amend the Criminal Code in a way to lift the prohibition on single-sports betting and allow provinces to provide residents with the new offering.

It is believed that the introduction of individual event wagering would put Canada in contention to compete with the U.S. in terms of gambling. This way many gamblers will be stopped from traveling south when it comes to wagering on major events such as the Super Bowl. Another reason for the expansion is to stop Canadians from pouring millions of dollars annually into offshore websites and using the money for the provinces.

Q1 Results

Back in April, the Canadian entertainment and betting firm has published its official financial records for the first quarter of the current year. The company’s McBookie platform managed to accumulate over CA$982,000 in gross gaming revenue, which is a 136% rise compared to the same quarter the previous year. With a total volume of bets placed on the online platform exceeding CA$28 million.

2020 Acquisition

In 2020, FansUnite confirmed the formal acquisition of Askott Entertainment in its entirety in a deal worth around CA$5 million, and it was concluded last summer. Thanks to the acquisition the parent company now provides its premium set of sports and gaming solutions to the subsidiary. The company will receive 1.9193 shares of FansUnite for each share held at closing.

Source: “FansUnite Granted UK Gambling Licenses for B2C and B2B Businesses”, Yahoo Finance, August 5, 2021