- The near unanimous vote demonstrated the strong level of support from all parties for single-event sports wagering in Canada.
- GameOn provides legalized sportsbooks with gaming software solutions, including patent-pending first-screen technology that lets fans make bets with remote controls.
- GameOn recently announced advisors with deep sports betting experience: J Moses, a respected game industry veteran who also served as an advisor for the sports wagering platform Bet.Works (recently acquired by Ballys), Mike Vorhaus, seed investor at DraftKings (Nasdaq: DKNG) and Skillz (NYSE: SKLZ), Sean Hurley, previously served as Head of Sportsbook at DraftKings (Nasdaq: DKNG) and Sabrina Carrozza, a communications consultant who represents some of the biggest brands in sports, media and technology.
February 19, 2021, Vancouver, British Columbia – Victory Square Technologies Inc. (“Victory Square”) (CSE:VST) (OTC: VSQTF) (FWB:6F6) portfolio company, GameOn Entertainment Technologies Inc. (“GameOn” or the “Company”), a leader in providing consumers, broadcasters, sportsbooks and partners with interactive, social experiences around sports, TV and live events, 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 strong level of 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 outcome illegal in Canada.
“We are pleased to see the vast support by the House of Commons for legislation in legalizing single event sports wagering in Canada. This Bill has been 12 years in the making and will give our company a great opportunity to service, when approved, the important legalized sports wagering industry in Canada,” said Matt Bailey, CEO, GameOn Entertainment Technologies Inc.
Once the Bill is enacted, the Company anticipates many opportunities to license and or joint venture across the 10 provinces and 3 territories in Canada and also in the legalized global markets. According to the Canadian Gaming Association, over $14 billion is wagered offshore by Canadians and through illegal bookmaking operations in Canada. GameOn estimates a market potential for online gaming in Canada of between $5 billion and $7 billion in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the U.S. and globally.
“The recent advancement of Bill C-218 in the House of Commons will have a significant positive impact on Victory Square portfolio companies; GameOn and FansUnite Entertainment,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “Both GameOn and FansUnite have strategically positioned their respective companies to capitalize upon the upcoming legal sport wagering opportunities in Canada and those legal in the USA and beyond.” “GameOn’s proprietary interactive gaming models will compliment live games and gaming operators, while FansUnite’s software will enable it to capitalize upon the legal gaming boon that is soon to come,” said Tejani.
GameOn has recently strategically beefed up its Board and Advisory Council bringing on noted and respected colleagues in the sports, entertainment, gaming and wagering spaces. They include:
- J Moses, a respected game industry veteran who has served as a Director at Take-Two Interactive (Nasdaq:TTWO) since 2007, and also served as an Advisor for the sports wagering platform Bet.Works, which was recently acquired by Ballys.
- Mike Vorhaus, seed investor at DraftKings (Nasdaq: DKNG) and Skillz (NYSE: SKLZ),
- Sean Hurley, an experienced sports betting and gaming expert, who previously served as Head of Sportsbook at DraftKings (Nasdaq: DKNG).
- Sabrina Carrozza, a communications consultant who represents some of the biggest brands in sports, media and technology.
“GameOn Entertainment Technologies Inc. is a prominent creator, supplier and innovator of gaming software solutions. As a proud Canadian gaming company, we look forward to providing legalized sportsbooks with our white label mobile and TV products and other services and products in regulated jurisdictions both in Canada and globally,” said CEO Matt Bailey.
About GameOn Entertainment Technologies
Founded in 2018, GameOn Entertainment Technologies empowers sports and entertainment content providers with the world’s simplest and most accessible gamification platform. Whether it’s supporting TV networks, OTT platforms, sportsbooks or leagues, GameOn helps partners turn their content—everything from sports to reality TV—into interactive and social experiences via mobile and TV apps.
After completing the Comcast NBCUniversal LIFT Labs Accelerator, powered by Techstars in 2018, GameOn has secured distribution and white label projects with several partners.
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On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies
For further information about the Company, please contact:
Investor Relations Contact – Edge Communications Group
Telephone: 604 283-9166
Media Relations Contact – Howard Blank, Director
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
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