- Fandom Sports Media Corp. (FDM) submits application for gaming-related supplier approval for Ontario
- The license will enable Fandom Sports to supply Alcohol and Gaming Commission-approved sportsbooks with its esports and sports betting solutions
- The Alcohol and Gaming Commission announced in January 2022 that it would launch a new online gaming market on April 4, 2022 through its subsidiary, iGaming Ontario.
- H2 Gambling Capital estimates that the combined iCasino and online sports betting market in Canada is over US $2 billion in 2022.
- Fandom Sports Media Corp. (FDM) share price rose by 17.07% to $0.24 at the end of trading yesterday.
Fandom Sports (FDM) subsidiary, Fandom Media Malta Ltd., has applied to the AGCO for a gaming-related supplier-manufacturers license.
The Ontario Alcohol and Gaming Commission license will enable Fandom Sports to supply AGCO-approved sportsbooks with its esports and sports betting solutions for both peer-to-peer and general betting markets.
“Our application submission to the AGCO represents another milestone for Fandom Sports and its wholly owned subsidiaries,” stated David Vinokurov, Fandom Sports CEO and President.
The Canadian federal government enacted Bill C-218 in August 2021, which paved the way for the provinces to implement a framework for legalized single-event sports wagering. Since then, Ontario, which represents 40% of Canada’s population, became the first province to accept applications from private iGaming operators.
The AGCO announced in January 2022 that it would launch a new online gaming market on April 4, 2022, through iGaming Ontario, a subsidiary of the AGCO.
The implementation of Ontario’s new online regime will allow private operators to enter the market for the first time. Ontario is the first province in Canada, where local lotteries traditionally have held a monopoly of the country’s gaming sector, to introduce such a licensing system.
H2 Gambling Capital estimates that the combined iCasino and Online Sports Betting market in Canada is over US$2 billion in 2022. Ontario is widely expected to become one of the largest iGaming markets in North America.
Fandom Sports Media Corp. (CSE: FDM) share price rose by 17.07% to $0.24 at the end of trading yesterday.
