FansUnite Granted Ohio Supplier License
Gaming and sports betting provider FansUnite has announced that it is broadening its footprint in the North American gaming market after it successfully received a gaming supplier license in the midwestern state of Ohio. The Toronto-listed operator said it hopes to launch in collaboration with micro-betting sports brand Betr shortly after Ohio legalizes sports betting from January 1st, 2023.
FansUnite is broadening its presence in the North American gaming market after successfully receiving a gaming supplier license in the midwestern state of Ohio. ©lennon/Pixabay
FansUnite Already Live in Ontario; Holds License Affiliates in Ten US States
The gaming and sports betting operator FansUnite has revealed its intention to expand its influence in the North America gaming market, following the provider successfully receiving a gaming supplier license in the midwestern state of Ohio.
The gaming group, which is currently listed on the Toronto Stock Exchange (TSX), explained that it expects to kick things off with micro-betting sports brand Betr shortly after Ohio legalizes sports wagering come January 1st, 2023. FansUnite also hopes to collaborate with other new clients that are currently active in the state – a speculative market which is expected to generate a sports betting handle of approximately $8.8 billion during its first calendar year.
On top of its brand new sports gaming supplier license, which it was granted by the Ohio Casino Control Commission, FansUnite has also received a gaming related supplier manufacturer license from the Alcohol and Gaming Commission of Ontario (AGCO) in Canada, and has affiliate licenses in more than 10 American states on top of that.
Additionally, FansUnite holds licenses in the UK and Malta. It also revealed its plans to try and become a legal gaming and affiliate solutions provider in even more betting jurisdictions in coordination with its clients’ operations.
Ohio License Stands as Major Symbolic Step for FansUnite
To mark the event of FansUnite finally receiving regulatory approval in the state of Ohio in the form of a gaming supplier license, Scott Burton, chief executive of FansUnite, positioned the news as a significant achievement for the operator:
“This license represents a major milestone for not only our US licensing strategy and B2B business, but also our overall North American expansion plan.”– Scott Burton, Chief Executive, FansUnite, Press Release
Burton reiterated that FansUnite expects the Ohio betting market to bring in a significant amount of revenue for the operator, while simultaneously hyping up further launches currently in the pipeline:
“The state of Ohio is the latest jurisdiction to legalize sports betting and as a major sports hub, we expect it to generate significant gaming revenues for our B2B clients and our live activation team at Betting Hero. This license will enable us to gain an early-mover advantage in a new market. Furthermore, as we secure more client contracts for our B2B solutions and/or affiliate operations, we intend to gain access to new betting jurisdictions where our customers operate; additional state license applications are underway.”
FansUnite Received Permission to List on Toronto Stock Exchange in July 2022
As briefly mentioned already, FansUnite Entertainment revealed back in July 2022 that it had successfully received the necessary conditional approval to begin listing its shares on the Toronto Stock Exchange (TSX).
The Vancouver-headquartered sports betting and igaming operator and supplier also announced that, as a result of the news, it would be moving away from listing its shares on the Canadian Securities Exchange as it was doing up until that point.
Worth noting, though, was that at the time of this news, FansUnite’s entrance onto the Toronto Stock Exchange (TSX) was still subject to final approval, which were contingent on the operator fulfilling specific customary conditions as required by the stock exchange.
Welcoming the news was CEO Scott Burton, who asserted that the company had now finally reached a position where it could successfully reach more investors:
“By trading on a larger exchange we are in a position to have greater reach to domestic and international institutional investors that are looking to add an established gaming operator to their portfolio. The listing serves as a significant milestone for FansUnite, and follows a number of important corporate milestones the company has achieved since merging with Askott Entertainment in 2020.”
Caesars Racebook Mobile App Launched in Both Florida and Ohio in June 2022
Speaking of Ohio, the world famous Caesars Entertainment announced in June 2022 the launch of its Caesars Racebook mobile app in Florida and Ohio, thanks to the signing of an exclusive partnership with NYRA Bets – the certified wagering platform of the New York Racing Association.
Sports racing fans physically situated within Florida and Ohio borders have now been blessed with the ability to engage in pari-mutuel wagering on premier horse racing content taking place on over 250 tracks around the world.
Dan Shapiro, Senior Vice President and Chief Development Officer of Caesars Digital, hailed the move as a significant win for Caesars, even going so far as to claim that the app is a one of a kind due to the operator’s Caesars Rewards loyalty program:
“The launch of Caesars Racebook is an important milestone as we continue to add wagering opportunities for our customers and live streaming content for the first time. Caesars Racebook is truly differentiated as the first horse racing advance deposit wagering app to include our award-winning Caesars Rewards loyalty program. We look forward to welcoming new horse racing customers and existing fans onto the platform and to working with NYRA Bets to grow horse racing as we deploy Caesars Racebook with plans to launch in about 30 states across the country.”
