Under the ticker JKPT, the group will go public as it looks to leverage its lottery brands’ reputation to inject some liquidity for expansion.
With a market cap of $46.5bn, the CSE is a small but rapidly growing stock exchange. However, it lags far behind its primary competitor, the Toronto Stock Exchange (TSX), which boasts a market cap of $3.1tn (trillion).
Nevertheless, Kings’ CEO Steve Budin remarked: “Listing on the CSE will provide us access to the capital that will enable this expansion.”
The group’s flagship property, LottoKings, is hoping to capitalise on its reputation to “attract and engage” an international player base, and grow its footprint in the live-dealer casino games and sportsbook sectors.
“The launch on the CSE is a critical component of the company’s growth plan,” noted Budin.
“Our strategy of leveraging outstanding lottery offerings to create engaged casino players has proven very successful and we’re now focused on harnessing this strength to develop our brands in the rapidly growing global online gaming market.
“Listing on the CSE will provide us access to the capital that will enable this expansion.”
Moreover, Kings believes its “strong presence in Latin America” will provide a solid foundation to foster its international ambitions, with a focus on the US and Europe.
The group said it “continues to focus on obtaining the required licensing and software” to break into newly regulated markets. Alongside LottoKings, the group owns WinTrillions.
