FansUnite Entertainment Inc.(OTCQB: FUNFF) (CSE: FANS) (“FansUnite” or the “Company”) is pleased to announce that, Bill C-218 was voted on and passed at second reading in the House of Commons on February 17, 2021. The near unanimous vote demonstrated the huge level of support from all parties for single-event sports wagering in Canada.
Known as The Safe and Regulated Sports Betting Act, Bill C-218 repeals a section of Canada’s criminal code which makes wagering on a single sporting event illegal. The bill will now enter into the last phase of hearings with the Justice Committee before moving to the senate and then to Governor-General for Royal Assent.
“We are pleased to see the overwhelming support of legalizing single event sports betting in Canada in the Canadian House of Commons this week as it represents a major milestone for the entire industry,” said Scott Burton, CEO of FansUnite Entertainment. “With interest in legal sports betting growing in both Canada and the U.S., seeing a vote of 303-15 in a first vote in the House of Commons demonstrates the desire from several political parties to amend an outdated Canadian law.”
By providing a regulated and thorough framework for single sports betting in Canada, provincial jurisdictions will be in a better position to enable betting from consumers while generating new forms of tax revenue from outside operators looking to expand into the Canadian gambling ecosystem.
“As a gaming operator in regulated jurisdictions, we have sports betting companies around the globe that are currently utilizing our technology to enable their growth,” continued Mr. Burton. “With the advancement of Bill C-218, and our relationships with stakeholders here in Canada, we are in a favourable position to replicate our global gambling strategy and capture market share here on our own soil.”
About FansUnite Entertainment Inc.
FansUnite is a sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. The principal business is operating the FansUnite Sportsbook and the website of its wholly-owned subsidiary, McBookie Limited, offering online gaming services to the UK market. FansUnite is also a provider of technology solutions, products and services in the gaming and entertainment industry and looks to acquire technology platforms and assets with high-growth potential in new or developing markets.