FansUnite
Applauds
Canadian Parliament on Advancing Legislation to Legalize Single
Event Sports Betting in Canada
-Bill C-218,
which would make it legal to bet on individual sports events, has
passed its first vote in the House of Commons.-
VANCOUVER, British
Columbia (February 18th, 2021) -- InvestorsHub NewsWire
-- FansUnite Entertainment Inc. (CSE:
FANS) (OTCQB: FUNFF) ("FansUnite" or the "Company") is pleased
to announce that, Bill C-218 was voted on and passed at second
reading in the House of Commons on February 17, 2021. The near
unanimous vote demonstrated the huge level support from all parties
for single event sports wagering in Canada.
Known as The Safe and Regulated Sports Betting Act, bill C-218
repeals a section of Canada's criminal code which makes wagering on
a single sporting event illegal. The bill will now enter into
the last phase of hearings with the Justice Committee before moving
to the senate and then to Governor-General for Royal
Assent.
"We are pleased to
see the overwhelming support of legalizing single event sports
betting in Canada in the Canadian house of commons this week as it
represents a major milestone for the entire industry," said Scott
Burton, CEO of FansUnite Entertainment. "With interest
in legal sports betting growing in both Canada and the U.S., seeing
a vote of 303-15 in a first vote in the House of Commons
demonstrates the desire from several political parties to amend an
outdated Canadian law."
By providing a
regulated and thorough framework for single sports betting in
Canada, provincial jurisdictions will be in a better position to
enable betting from consumers while generating new forms of tax
revenue from outside operators looking to expand into the Canadian
gambling ecosystem.
"As a gaming
operator in regulated jurisdictions, we have sports betting
companies around the globe that are currently utilizing our
technology to enable their growth," continued Mr. Burton. "With the
advancement of Bill C-218, and our relationships with stakeholders
here in Canada, we are in a favourable position to replicate our
global gambling strategy and capture market share here on our own
soil."
About
FansUnite
Entertainment
Inc.
FansUnite
is a sports and
entertainment company, focusing on technology related to regulated
and lawful online gaming and other related products. The principal
business is operating the FansUnite Sportsbook and the website of
its wholly-owned
subsidiary,
McBookie
Limited, offering
online gaming services to the UK market. FansUnite is also a provider of
technology solutions, products and services in the
gaming and entertainment industry and 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
ir@fansunite.com
(905)
510-7636
Scott Burton, Chief
Executive Officer of FansUnite
scott@fansunite.com
Darius
Eghdami, President of
FansUnite
darius@fansunite.com
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: Bill C-218 receiving royal
assent, the effect of Bill C-128 on online gaming activities, the
ability of FansUnite
to
implement their Canadian licensing strategy; FansUnite's
ability
to fulfill
technology needs with its platform;
business development plans
of FansUnite;
the Company's unique portfolio of assets; and discussion of future
plans, projections,
objectives,
estimates and
forecasts and the timing related thereto. 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.
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.