Vancouver, British Columbia–(March 1, 2023) – FansUnite Entertainment Inc. (TSX: FANS) (OTCQX: FUNFF) (“FansUnite” or the “Company”), is pleased to announce that FansUnite has submitted a Supplier License application to the Virginia Lottery Board in order to become a legal sports betting and iGaming supplier in the Commonwealth of Virginia.
Virginia is one of the most coveted states in the U.S. for operators. Since sports betting was legalized in Virginia in April 2022, the state generated a total sports betting handle of over US$4.1 billion.1 Once licensed, FansUnite will be able to deploy its Chameleon iGaming platform and its Player Account Management (PAM) system in the state.
As part of FansUnite’s U.S. expansion strategy, in addition to Virginia, the Company plans to apply for gaming licenses in more betting jurisdictions, namely Massachusetts and Indiana, to expand its B2B and affiliate operations.
“With growing U.S. customer traction via our B2B platform, as well as increased opportunities through our affiliate live activation brand Betting Hero, we aim to continue expanding our operations into more North American markets,” said Scott Burton, CEO of FansUnite. “FansUnite intends to become a legal provider of iGaming solutions in more U.S. betting jurisdictions, specifically in Massachusetts and Indiana.”
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 a Scottish sportsbook, McBookie. FansUnite is the parent company of North American-focused AmAff, which operates leading affiliate brands such as Betting Hero and Props.com.
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 Company’s ability to obtain a license and commence operations in Virginia; the Company’s plans to apply for licenses in other jurisdictions, including Massachusetts and Indiana; the Company expanding its North American operations; and the future performance and operations of the Company. 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 Annual Information Form dated June 15, 2021 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.