On September 2, 2020 FansUnite (FANS.C) announced that its 100% owned subsidiary, Askott Entertainment has signed a partnership agreement with Las Vegas-based GameCo LLC, a pioneer in skill-based i-gaming products.
The partnership will introduce Askott Entertainment’s e-sports i-gaming platform, Chameleon, to the U.S. regulated market.
Five weeks ago, Askott completed its second casino-themed video game, Crash Heist.
Askott’s iGaming platform, Chameleon Gaming Platform is engineered 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 Random Number Generator (RNG) to produce casino style chance games.
The partnership between FansUnite and Askott “brings Askott what it doesn’t already have – which is a sportsbook license and casino gaming – and brings FansUnite what it didn’t have – a solid e-sports gambling front with white label clients and a large membership base,” wrote Equity Guru’s Chris Parry.
“The total of the two entities brought together makes for something much larger than the sum of their individual parts, with years in business, revenue incoming, and a shared level of respect,” continued Parry.
Askott/GameCo Deal Highlights:
- GameCo holds gaming licences in almost 30 U.S. jurisdictions including New Jersey and Nevada.
- Askott Entertainment to leverage this U.S. licence infrastructure.
- GameCo will become an official reseller of the Chameleon e-sports betting platform.
- Buyers will include U.S.-based casino operators.
- Early mover advantage in the U.S. e-sports i-gaming market.
- Askott gains large footprint in lucrative gambling market.
“With this newly launched partnership, we are able to showcase our turnkey white-label i-gaming solution while officially launching our technology into the burgeoning U.S. gaming market,” stated Scott Burton, CEO of Fansunite Entertainment.
“Online gambling is set to be worth over $60 billion and is expected to hit $94 billion in 2024,” stated Bit Rebels who cite various modernizations including Augmented & Virtual Reality making its way into the gambling world, where several players can share one environment.
“Skill-based games and e-sports betting are one of the few growth opportunities in the U.S.” stated Blaine Graboyes, CEO of GameCo, “we believe Askott provides the most capable and innovative platform for offering i-gaming and e-sports betting.”
FansUnite’s current business objectives are made possible by the repeal of a 1992 U.S. law.
In 2018, the Professional and Amateur Sports Protection Act (PASPA) – originally signed into law by President Bush – was struck down as unconstitutional.”
“With the repeal of PASPA, any state is now allowed to legalize sports betting,” confirms FansUnite, “Since that time more than $20-billion has been bet with U.S. sportsbooks”.
FANS has been adding muscle to its Board of Directors. Two weeks ago, FANS announced that Chris Grove is joining its Board of Directors.
Chris is a partner at Eilers & Krejcik Gaming (EKG) where he heads the firm’s Sports & Emerging Verticals division. His insights are regularly cited by lawmakers, analysts, and mainstream media including ESPN, Bloomberg, the New York Times and the Wall Street Journal.”
Last week, FANS appointed James Keane to the board of directors. Mr. Keane helped grow Paradise Poker into one of the top three poker sites in the world and lead its sale to Sportingbet in 2005.
Mr. Keane is currently the CEO of King Show Games– a studio that designed over 200 games and has globally licensed titles.
“With the Askott acquisition, FansUnite is well positioned to become a leader in the global I-gaming market,” stated Darius Eghdami, President of FansUnite, “The combined forces of both companies will bring together a portfolio of B2B and B2C assets that are unique, industry leading, and support our goal of growing our global footprint in the fast-growing gaming industry.”
Mr. Eghdami expounds on the Askott acquisition in this excellent Pro Active Investors interview:
“The partnership with GameCo is a significant inflection point for Fansunite and accelerates our plans to enter the U.S. market by at least six to 12 months,” concluded Burton.
– Lukas Kane
Full Disclosure: FansUnite is an Equity Guru marketing client.