Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Canadian Gaming Tech Firm Acquires U.K. Betting Platform
News Update

Share on Stocktwits


FansUnite Entertainment aims to grow the platform's membership base and increase its betting volume.

FansUnite Entertainment Inc. (FANS:CSE) announced in a news release it acquired McBookie Ltd., which offers sports, virtual sports and casino betting in the United Kingdom (U.K.), for a total consideration of CA$2.2 million.

That figure is comprised of CA$1.2 million worth of common shares along with CA$500,000 in cash due on closing and a CA$500,000 note due on the anniversary of the closing date.

The acquisition "provides a strong foundation for the future of FansUnite as the company continues to look to consolidate assets in leading regulated gaming jurisdictions such as the U.K.," the release noted.

McBookie, since its founding, organically garnered 10,000 active members and handled CA$340 million in betting, CA$340 million of it in the past three years alone, the company noted.

Vancouver, British Columbia-based FansUnite intends to grow the McBookie platform by growing its membership base and increasing its betting volumes, throughout Great Britain, where net gambling revenue has been on the rise. Between 2011 and 2018, the number grew to 14.4 billion from 8.4 billion.

"We have always believed in the huge potential of the McBookie brand and our most recent investment will allow us to provide this asset with the necessary resources to become a leader in the UK market," said Darius Eghdami, chairman and CEO of FansUnite Entertainment. "Remarkably, McBookie has been able to build their brand and customer base through mostly organic channels. Paul Petrie and Damian Walker are excellent operators and with our team, we will now be able to assist them in continuing to grow their membership base and increasing their betting volume."


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with FansUnite. Please click here for more information. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of FansUnite, a company mentioned in this article.

Want to read more about Technology investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe