Vancouver, British Columbia–(July 13, 2022) – FansUnite Entertainment Inc. (TSX: FANS) (OTCQX: FUNFF) (“FansUnite” or the “Company”) is pleased to announce that the Company has entered into a definitive licensing agreement dated July 11, 2022 with prominent Welsh bookmaking services provider Lovell Brothers Limited, owners of Dragon Bet, to launch a new online sports betting platform, dragonbet.co.uk, powered by FansUnite’s Chameleon iGaming solution. The term of the agreement is three years.
Dragon Bet serves as the digital brand of John Lovell Racing, a prominent bookmaker in Welsh racing and gambling that began operations over 50 years ago and is currently active in 16 racecourses across Wales and the south of England.
As previously announced in April 2022, FansUnite will license its Chameleon white-label betting software to Dragon Bet for a new digital wagering portal that will include betting products that are customized for Welsh sports betting fans. Dragon Bet plans to grow a strong digital footprint in Wales and become the leading bookmaker within the region. And with Wales reaching the World Cup for the first time since 1958, the excitement around local sports is at an all-time high.
Revenue from gambling and betting activities within the U.K. alone is projected to generate an estimated £12.5 billion in 2022.1 This agreement will diversify FansUnite’s presence within the lucrative UK marketplace and will build on the footprint of McBookie Ltd., the Company’s wholly-owned subsidiary and an established sportsbook in Scotland.
“We are pleased to enter into a licensing agreement with the Lovell family to build the online wagering platform for Dragon Bet,” said Scott Burton, CEO of FansUnite. “Given the growing popularity of online betting, the Lovells have created a new digital brand to deliver a tailored array of iGaming solutions, powered by our robust technology. Their rich history within the Welsh racing and betting community, coupled with their large customer network makes them a perfect fit for our Chameleon iGaming platform and we look forward to working with them.”
“Our goal is to provide Welsh customers with seamless digital access to our flagship products”, said David Lovell, Director and Co-Founder of Dragon Bet. “Throughout multiple decades, we have built a loyal customer base in Wales and we intend to deliver a comprehensive betting platform that is tailored to our customers’ preferences and engrained with our longstanding identity and culture. We are excited to see our brand launch on FansUnite’s platform.”
As part of the Company’s growth strategy, FansUnite intends to continue expanding to new marketplaces and secure more B2B clients globally.
About FansUnite Entertainment Inc.
FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming. FansUnite’s one-of-a-kind iGaming platform Chameleon offers operators a full suite of gaming solutions with a sports and esports focus geared for the next generation of online bettors and casino players. Along with providing B2B technology solutions, FansUnite operates multiple B2C brands, such as Scottish sportsbook McBookie and Brazilian esportsbook VamosGG, and produces casino style slot games under its Askott Games subsidiary. FansUnite is the parent company of North American-focused American Affiliate, which operates leading affiliate brands such as Betting Hero, Props.com, Wagers.com and BetPrep.
For further information, please contact:
Prit Singh, Investor Relations at FansUnite
Scott Burton, Chief Executive Officer of FansUnite
Darius Eghdami, President of FansUnite
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: the new online sports betting portal, www.dragonbet.co.uk, which will be powered by FansUnite’s Chameleon iGaming platform; Dragon Bet licensing the Company’s Chameleon white-label betting software for its new online platform; Dragon Bet growing its customer base using the Company’s igaming platform; the Company’s commitment to expand globally; and the future growth prospects of the U.K. gambling and betting market. 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.