HeadsUp to acquire stake in VIP Entertainment

09/03/20

HeadsUp Entertainment International intends acquire a 50% stake in the operator.

US.- Canadian entertainment company HeadsUp has signed a letter of intent for the purchase of 50 per cent of the shares of online gambling operator VIP Entertainment.

The LOI defines a 3-step due diligence process, which is expected to complete in 35-40 days.

HeadsUp hopes the acquisition will allow it to boost revenue in licensed jurisdictions. VIP operates five sportsbook brands, five online casino brands and an online poker platform.

It plans to announce a new board of directors and management team shortly.