FansUnite Entertainment
Receives Malta Gaming Service License and Critical Gaming Supply
License
-Approval allows FansUnite to
offer B2B and B2C gambling services throughout
Europe-
Vancouver, British Columbia and
Sliema, Malta, December 7, 2020 -- InvestorsHub NewsWire
-- FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”), a
technology company providing leading online gaming solutions, is
pleased to announce that Askott Entertainment (Malta) Ltd. and
E.G.G Limited, wholly owned subsidiaries of FansUnite
Entertainment, have received approval from the Malta Gaming
Authority (“MGA”). The Gaming Service License and Critical Gaming
Supply license were received on December 4th, 2020. Both
licenses are effective for a term of 10 years from the date of
grant.
FansUnite will now be able to offer
a full spectrum of online gambling services in Europe, covering
Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled
Games.
With
MGA approval received, FansUnite will be joining other highly
respected gambling companies such as PokerStars, Betfair and Unibet
in operating their business within MGA
regulations.
The
Malta Gaming Authority is a gambling regulatory organization that
provides top-tier industry standard gaming licenses that are in
line with EU laws and regulations. With the MGA licenses, FansUnite
will receive full credibility as a trusted betting platform
supplier and casino operator in Europe, which will result in the
company gaining significant recognition in the online gambling
market. The company will also obtain accessibility to new markets
as operators registered under EU legislation can utilize
FansUnite’s B2B and B2C products, respectively. Other benefits of
the MGA licenses include a variety of payment methods that will
result in smoother transactions and a corporate-friendly tax
system.
Overview of Gaming Licenses
Acquired by FansUnite
The Critical Gaming Supply
License has been received by Askott Entertainment (Malta)
Ltd. This B2B license enables FansUnite to sell its proprietary
software to a broad spectrum of licensed sports betting and iGaming
operators throughout Europe.
The Gaming Service
License has been granted to E.G.G. Limited (Malta). This
B2C license allows FansUnite to operate its own brands and game
offerings within the EU market. In addition, FansUnite will gain
full rights to provide full white label services to partners,
eliminating the need for them to undergo the licensing process,
software testing procedures, payment processing configurations and
banking requirements.
According to the EU Gaming and Betting
Association, the EU online gambling market is growing at about 10%
per year and the gross gaming revenue of the EU sector is expected
to rise to €29.3 billion by 20221.
“The
Malta Gaming Authority license is widely considered one of the most
prestigious gambling licenses in the industry and receiving it
represents a major milestone in our development as a betting and
iGaming company,” said Scott Burton, CEO of FansUnite
Entertainment. “Having spent years building our technology to a
global standard that is desirable by international regulatory
bodies, we were able to meet Malta’s extremely stringent and
rigorous technical, software, and corporate audits and qualify for
two separate licenses. With the approval in hand, we will look to
continue executing on our growth strategy, by collaborating with
new partners in Europe in order to distribute our sports and
esports betting platform along with our RNG casino game titles to
an expanded customer base.”
FansUnite will immediately commence
extensive business development to promote iGaming and sports
betting services to both end customers and online casino and
sportsbook operators in Europe.
1https://www.egba.eu/eu-market/
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.
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" under Canadian securities
legislation. Generally, forward-looking information 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: FansUnite’s ability to offer gambling services in Europe and
elsewhere; FansUnite’s credibility as a betting platform supplier
and casino operator; recognition of the Company in the online
gambling market; accessibility to new markets; increased options
for payment methods; effects of the Malta Gaming Authority license
on transactions involving the Company; tax benefits arising from
the Malta Gaming Authority license; FansUnite’s ability to
distribute its sports and esports betting platforms and RNG casino
games; expansion of FansUnite’s customer base; business development
plans of FansUnite; 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 based on the Company's estimates and are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of FansUnite to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information. Additional information regarding the
risks and uncertainties relating to the Company’s business are
contained under the heading "Risk Factors" in the Company’s
Non-Offering Prospectus dated March 27, 2020 filed on its issuer
profile on SEDAR at www.sedar.com and 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. Accordingly, readers
should not place undue reliance on forward-looking statements and
forward-looking information. The forward-looking statements in
this news release are made as of the date of this release.
FansUnite disclaims and does not undertake to update or revise any
forward-looking statements or forward-looking information, whether
as a result of new information, future events or otherwise,
except as required by applicable securities
laws.
