Kings Entertainment Group is ready to transform the way Canadian players perceive wagering on sports events on a day-to-day basis. It recently made an announcement that it will team up with Sports Venture Holdings Incorporated in a new business combination agreement. This new merger would make it possible for both parties to enhance the local sports betting field and introduce new opportunities to Canadian players.
The Vancouver-based Kings Entertainment Group offers services for lottery, casino, and sportsbook activities and is the parent entity of LottoKings and WinTrillions. Through them, the firm offers top-class lottery offerings as well as a premium range of online casino and sportsbook verticals. Both of the daughter entities have attracted and engaged millions of customers since their inception.
The latest announcement makes it known that the gambling company is here to stay and further enhance the budding sports betting field in Canada. This week brought the news of the merger with Sports Venture Holdings Incorporated. This holding company oversees the daily operation of the popular Bet99 sports wagering brand, which recently made its first steps in Canada’s fresh sports betting field.
Steve Budin, Chief Executive Officer of Kings Entertainment, pointed out that both forces are ready to enhance the local sports betting field and they bring a lot to the table. On one hand, Kings Entertainment brings years of experiencing and pioneering across the global online sports betting field. On the other hand, Sports Venture Holdings also has management experience as a market leader on many gaming operators.
When all these strong features are combined, the Canadian sports betting sector and Canadian players are in for a treat. Moreover, players are expected to be drawn towards a local company developing within Canada during this period of rapid expansion. Jared Beber, Chief Executive Officer of Sports Venture Holdings, also had an opinion on the subject. He is happy with the expansion taking place.
What’s to Come?
With the help of this new merger, the Bet99 sports wagering brand is about to be brought to public capital markets, as Kings Entertainment has both CSE and OTC listings. This positions both parties well and makes them even more attractive for investors down the road. It could be recalled that back in April, the online service provider from Vancouver announced officially that its common shares have commenced trading on the OTCQB market.
This happened under the ticker JKPTF, which is a major milestone for the Canadian online gaming leader. It should also be pointed out that the said common shares would also continue trading on the Canadian Securities Exchange under the ticker JKPT. Such a posting was recognized as a major milestone by the management, placing the company on the map of even more US investors and brokers.
Kings Entertainment also recently revealed more about its gaming performance in a dedicated report for March 2022. According to the company, active players have increased by 15 percent or to 5,200 last month. Its two flagship brands Lotto Kings and WinTrillions have also welcomed many new users, as their player bases spiked by 72 percent over the February 2022 numbers.
Source: “Kings Entertainment Enters into Definitive Agreement to Acquire Parent of Bet99 Sportsbook and Casino Operator“, Yahoo, May 25, 2022