FansUnite Entertainment Issues Statement Regarding Introduction of Federal Government Bill to Legalize Single-Event Wagering in Canada
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2020) - FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) ("FansUnite" or the "Company") CEO Scott Burton today issued the following statement regarding legislation that was introduced by the Federal Government to legalize single-event sports betting in Canada.
The proposed federal government legislation will give provinces and territories in Canada the discretion to offer single-event sports betting products and manage single-event sports betting either online or in a physical facility in their respective jurisdictions.
"We are pleased that the federal government has decided to introduce legislation to legalize single-event sports wagering in Canada," said Scott Burton, CEO of FansUnite Entertainment. "This is the first important step to making sports betting competitive in this country, followed by the potential for outside operators to participate in the Canadian market. With our team and global experience in regulated jurisdictions, we are positioned to capitalize on this opportunity if and when it happens."
About FansUnite Entertainment Inc.
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, Chameleon Gaming 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. The platform operates multiple B2C brands and B2B software for the online gambling industry. FansUnite also looks to acquire technology platforms and assets with high-growth potential in new or developing markets.
For further information, please contact:
Prit Singh Investor Relations at FansUnite
Scott Burton Chief Executive Officer of FansUnite
Darius Eghdami President of FansUnite
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes," "belief," "expects," "intends," "anticipates," "potential," "should," "may," "will," "plans," "continue" or similar expressions to be uncertain and forward-looking. Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events such as: the coming into force of legislation relating to the legalization of single-event sports betting in Canada; opportunities to participate in the Canadian market; FansUnite's ability to strengthen its position in the Canadian market; opportunities available to FansUnite in Canadian markets; and future acquisitions of FansUnite. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of FansUnite to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Such factors include, among other things, the enactment of enabling legislation and regulations in other provinces of Canada to facilitate iGaming and the enactment of federal legislation to permit single-event sports wagering (including the timing of such legislation and regulations being passed and proclaimed in force (if at all) and the terms and conditions imposed in such legislation and regulations on participants in the iGaming industry), the receipt by the Company of all relevant licences and approvals under the relevant legislation and regulations, and the rate of adoption of online gaming in Canada. Additional information regarding the risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Non-Offering Prospectus dated March 27, 2020 filed on its issuer profile on SEDAR at www.sedar.com, and risks related to global pandemics, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens and influence of macroeconomic developments. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The forward-looking statements in this news release are made as of the date of this release. FansUnite disclaims and does not undertake to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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