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Mergers & Acquisitions

FansUnite acquires esports supplier Askott Entertainment to boost Canadian presence

Canadian operator FansUnite has acquired esports betting supplier Askott Entertainment, in an attempt to create one of the leading gaming companies in the country.

Canada

The Vancouver-based operator, which runs the FansUnite Sportsbook in the UK market, will acquire all of the outstanding securities of Askott, also Vancouver-based, in a three-way transaction, which also involves investor Victory Square Technologies (VST).

The amalgamation will see the companies continue as one corporation, with the focus on sports betting, esports wagering and casino games.

Between the brands, the combined company will have four live B2C platforms that have generated more than CD$350m (US$250m) in wagers, with more than 300,000 registered players.

The expanded business also includes four executed B2B contracts, two of which are currently live, while two esports-themed casinos games will initially be released, with more games in development.

The merger, subject to shareholder approval (expected to be competed in Q3 2020), will see Askott CEO Scott Burton become CEO of FansUnite, with current FansUnite CEO Darius Eghdami taking up the role of president.

Eghdami said: "As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada's premier online gaming companies.”

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