FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) (“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.