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-Bill C-218 will legalize single-event sports betting in Canada-
FansUnite Entertainment Inc. (CSE: FANS) (OTCQX: FUNFF) ("FansUnite" or the "Company") is pleased to announce that the Senate has passed Bill C-218, also known as The Safe and Regulated Sports Betting Act.
The approval of this bill by both the House of Commons and the Senate will make it eligible to receive Royal Assent and become law, which would enable lawful betting on individual sports events in Canada.
"Today marks a historic milestone in the global gambling industry as Canada has taken a pivotal step forward in legalizing single-event sports betting," said Scott Burton, CEO of FansUnite. "The legalization of this bill will provide the Canadian economy access to additional employment opportunities, tax revenue, and a safe and regulated platform for betting options."
"As a multinational i-gaming company, we have successfully launched brands and licensed our B2B technology in several jurisdictions, including Latin American and Europe," continued Burton. "This bill's passing positions FansUnite to play a foundational role in the development of Canadian single sports betting and help shape the Canadian sports betting marketplace. We are ready, eager, and well positioned to continue our successful global expansion strategy right here on our own home soil."
FansUnite also wants to thank Paul Burns and the Canadian Gaming Association for all of their efforts to help Bill C-218 pass.
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" 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: Bill C-218 receiving royal assent, the effect of Bill C-128 on online gaming activities, the ability of FansUnite to implement their Canadian licensing strategy; FansUnite's ability to fulfill technology needs with its platform; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88560
