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Fansunite Entertainment Inc
Symbol FANS
Shares Issued 155,431,680
Close 2020-12-07 C$ 0.78
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Fansunite receives two Malta gaming licences

2020-12-07 09:40 ET - News Release

Mr. Scott Burton reports

FANSUNITE ENTERTAINMENT RECEIVES MALTA GAMING SERVICE LICENSE AND CRITICAL GAMING SUPPLY LICENSE

Askott Entertainment (Malta) Ltd. and EGG Ltd., wholly owned subsidiaries of Fansunite Entertainment Inc., have received approval from the Malta Gaming Authority (MGA). The gaming service licence and critical gaming supply licence were received on Dec. 4, 2020. Both licences are effective for a term of 10 years from the date of grant.

Fansunite will now be able to offer a full spectrum of on-line gambling services in Europe, covering casino, fixed odds betting, pool betting and controlled skilled games.

With MGA approval received, Fansunite will be joining other highly respected gambling companies such as PokerStars, Betfair and Unibet in operating their business within MGA regulations.

The Malta Gaming Authority is a gambling regulatory organization that provides top-tier industry standard gaming licences that are in line with European Union laws and regulations. With the MGA licences, Fansunite will receive full credibility as a trusted betting platform supplier and casino operator in Europe, which will result in the company gaining significant recognition in the on-line gambling market. The company will also obtain accessibility to new markets as operators registered under EU legislation can utilize Fansunite's B2B (business-to-business) and B2C (business-to-consumer) products, respectively. Other benefits of the MGA licences include a variety of payment methods that will result in smoother transactions and a corporate-friendly tax system.

Overview of gaming licences acquired by Fansunite

The critical gaming supply licence has been received by Askott Entertainment (Malta) Ltd. This B2B licence enables Fansunite to sell its proprietary software to a broad spectrum of licensed sports betting and i-gaming operators throughout Europe.

The gaming service licence has been granted to EGG Ltd. (Malta). This B2C licence allows Fansunite to operate its own brands and game offerings within the EU market. In addition, Fansunite will gain full rights to provide full white label services to partners, eliminating the need for them to undergo the licensing process, software testing procedures, payment processing configurations and banking requirements.

According to the EU Gaming and Betting Association, the EU on-line gambling market is growing at about 10 per cent per year and the gross gaming revenue of the EU sector is expected to rise to 29.3 billion euros by 2022 (1).

"The Malta Gaming Authority licence is widely considered one of the most prestigious gambling licences in the industry and receiving it represents a major milestone in our development as a betting and i-gaming company," said Scott Burton, chief executive officer of Fansunite Entertainment. "Having spent years building our technology to a global standard that is desirable by international regulatory bodies, we were able to meet Malta's extremely stringent and rigorous technical, software, and corporate audits and qualify for two separate licences. With the approval in hand, we will look to continue executing on our growth strategy, by collaborating with new partners in Europe in order to distribute our sports and e-sports betting platform along with our RNG casino game titles to an expanded customer base."

Fansunite will immediately commence extensive business development to promote i-gaming and sports betting services to both end customers and on-line casino and sports book operators in Europe.

(1) See EGBA website.

About Fansunite Entertainment Inc.

Fansunite is a global sports and entertainment company, focusing on technology related to regulated and lawful on-line gaming and other related products. Fansunite has produced a one-of-a-kind complete i-gaming platform, with a sports and e-sports focus geared for the next generation of on-line bettors and casino players. The platform includes products for prematch 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 on-line gambling industry. Fansunite also looks to acquire technology platforms and assets with high growth potential in new or developing markets.

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