- Victory Square Technologies (VST) applauds Senate approval of Bill C-218 that legalizes single-event sports wagering in Canada
- Victory Square has two portfolio companies that will benefit from this announcement: GameOn Entertainment Technologies (CSE:GET) and FansUnite Entertainment (CSE:FANS)
- Once Bill C-218 receives Royal Assent, Victory Square anticipates many opportunities to license and or joint venture across the 10 provinces and 3 territories in Canada and also in the legalized global markets
- Victory Square builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for growth
- Victory Square Technologies Inc. (VST) is in the grey, trading at C$0.60 at 1:36 pm ET
Victory Square Technologies Inc. (VST) is pleased to announce that Bill C-218 has passed the Canadian Senate and can now proceed for Royal Assent for adoption.
Known as The Safe and Regulated Sports Betting Act, Bill C-218 repeals a section of Canada’s criminal code, which makes wagering on a single sporting event outcome illegal in Canada.
Victory Square has two portfolio companies that will benefit from this announcement: GameOn Entertainment Technologies (CSE:GET) and FansUnite Entertainment (CSE:FANS).
Once Bill C-218 receives Royal Assent, Victory Square anticipates many opportunities to license and or joint venture across the 10 provinces and 3 territories in Canada and also in the legalized global markets.
According to the Canadian Gaming Association, over $14 billion is wagered offshore by Canadians and through illegal bookmaking operations in Canada.
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.
As for GameOn Entertainment technologies which was founded in 2018, this company empowers sports and entertainment content providers with the world’s simplest and most accessible gamification platform.
Whether it’s supporting TV networks, OTT platforms, sportsbooks or leagues, GameOn helps partners turn their content—everything from sports to reality TV—into interactive and social experiences via mobile and TV apps.
“The Senate adoption of Bill C-218 will have a significant positive impact upon Victory Square portfolio companies; GameOn and FansUnite,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.
“Both GameOn and FansUnite have strategically positioned their respective companies to capitalize upon the upcoming legal sport wagering opportunities in Canada and those legal in the USA and beyond,” added Tejani.
Victory Square builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.
The result: rapid scale-up and monetization, with a solid track record of public and private exits.
Victory Square Technologies Inc. (VST) is in the grey, trading at C$0.60 at 1:36 pm ET.