Fansunite (FANS.C) subsidiaries have filed applications for business-to-business (B2B) and business-to-consumer (B2C) gambling licenses with the United Kingdom Gambling Commission. The applications were submitted by both of Fansunite’s subsidiaries, E.G.G. and Askott Entertainment.

“The U.K. gambling licenses are widely regarded as the gold standard for lawful gaming operations and we are pleased to have formally submitted our application with the commission,” said Scott Burton, Chief Executive Officer of Fansunite

Fansunite is a sports and entertainment company with a focus on technology related to online gaming and other related products that are deemed lawful and regulated. In addition to seeking technology platforms in the gaming and entertainment industry, Fansunite also offers online gaming services to the U.K. market. With this in mind, the Company’s submitted applications mark a significant step forward in their expansion strategy.

“The first step to our expansion in the U.K. is to obtain the relevant licenses from the country’s Gambling Commission, which will allow us to license our betting solutions as well as operate our B2C betting platforms in the United Kingdom. By doing so, we will be in a position to advance our operations to capture market share in one of the most lucrative online betting markets in the world,” remarks Scott Burton

Fansunite has also applied for a remote gambling software license. This will unlock its suite of betting products to various operators in the U.K. gambling market. Additionally, the Company’s subsidiary E.G.G. has applied for a remote betting license which permits it to integrate B2C wagering platforms in the United Kingdom. The U.K. represents one of the largest gambling markets in the world. With this in mind, a seamless integration into the U.K. market would incredibly beneficial to the Company.

Fansunite’s stock opened at $1.38 and reached a high of $1.40. The current stock price sits at $1.24.

Disclaimer: Fansunite is an Equity Guru client.