Kings Entertainment agrees to acquire Sports Venture Holdings
The company, which operates LottoKings and WinTrillions, has entered into an agreement to acquire SVH, owner of Bet99 in Canada.
Canada.- Kings Entertainment has entered into an agreement to acquire Sports Venture Holdings (SVH), owner of the Bet99 online sports betting and gaming brand in Canada. Kings Entertainment, which operates LottoKings and WinTrillions, will combine with SVH and operate as a single business.
Bet99 CEO Jared Beber will become the CEO of the merged company, while current Kings leader Steve Budin will continue to manage the LottoKings operations and act in an advisory role. Adam Arviv, the founder and former CEO of Bragg Gaming Group, will become executive chair of the combined entity.
The deal is subject to a series of terms and conditions including shareholder approval and the approval of the Canadian Securities Exchange (CSE).
Steve Budin, CEO of Kings Entertainment, said: “The combination of Kings Entertainment, a company led by pioneers of the international online sports gambling industry, and SVH, the parent company of operators of the market-leading Bet99 brand, will be transformative for the Canadian sports betting sector.
“Our vision for Kings has always been to build leadership positions within each of the regulated jurisdictions that we enter, and this agreement will certainly accelerate that goal within the Canadian landscape and beyond.”
Jared Beber, CEO of Sports Venture Holdings, added: “Merging with an internationally recognised online betting veteran such as Kings is a natural next step for SVH.
“Bringing the Bet99 brand to the public capital markets, through Kings’ CSE and OTC listings, will not only support expansion by engaging a much broader investor base, but will also build the Bet99 brand with an even wider audience of betting enthusiasts.”
Hacksaw Gaming receives licence in Ontario
Hacksaw Gaming has announced that it received its first licence in North America. The company has been approved by the Alcohol and Gaming Commission for Ontario (AGCO) to offer a selection of its portfolio in the Canadian province.
The company’s first titles to go live in Ontario will include Chaos Crew, Joker Bombs, Wanted: Dead or a Wild, and some from their latest Dare2Win vertical with titles, Mines and Boxes.
See also: Paysafe signs new deal with Ontario Lottery and Gaming Corporation
