FansUnite’s Global and Esports Betting Expansion
One of the great paradoxes of the current Covid-19 pandemic sweeping the globe is that while for many businesses it has been a worrying time, for others it has represented something of a boon. In terms of esports betting, sports betting and casino gaming, these industries have undergone a resurgence over the last 12 months or so. Perhaps no company can appreciate that fact more than Canadian company FansUnite.
Back in June 2020, FansUnite CEO Darius Eghdami announced that his company, which had just gone public on the stock exchange, would acquire Askott Entertainment, a Canadian gaming company and which was owned by an old friend, Scott Burton.
That created one of the largest gaming companies in Canada and since then, FansUnite has been expanding its horizons in a number of ways.
Gameco and Pinnacle Deals
In September 2020, FansUnite announced that the Chamelon gaming platform, acquired when the company bought Askott Entertainment, would be available in the United States thanks to a deal struck with U.S.-based company GameCo.
The move gave FansUnite access to 30 different markets in the U.S. where GameCo held licenses allowing bettors and casino gamers in the U.S. to enjoy the new Chameleon platform for the first time.
However, big news was to come just a month later when FansUnite penned a deal with Pinnacle Solutions that allowed Pinnacles esports betting data and odds would now be integrated into the aforementioned Chameleon betting platform.
Combined with the deal with GameCo, this saw the creation of the Sky Ute Casino in Colorado, which became the first esports sportsbook in the United States.
Underserved Markets and a Focus on Technology
While there is no doubt that the increase in online gambling activity due to Covid-19, especially in the esports betting sector, has driven the upswing in the market, FansUnite’s different approach to its business has also been a key factor.
“We’ve come at this from a strong technical side,” explained CEO Scott Burton of FansUnite Entertainment Inc.
“A lot of gaming companies operate as brands but don’t own the technology. We wanted to build the technology side, own the technology, and license that to other operators.”
It is certainly a strategy that has worked wonders for the company as not only has the company made forays into the Canadian and U.S. markets over the past year, but they have also expanded further. Licenses in Brazil and Scotland have been acquired too.
Malta Gaming Authority License
The next big step for the company has been the acquisition of the industry-respected Malta Gaming Authority License. This license allows operators to access an expansive and potentially lucrative European market.
In addition, FansUnite has agreed on a partnership with The Ear Platform, which offers around 6,000 online casino games.
The upshot of this is that FansUnite’s Askott Games division now has access to over 120 online gaming sites, onto which they can incorporate their games.
Not only that but by holding the Malta Gaming Authority License, as Scott Burton explained:
“There are groups that want to be in the gaming space but don’t want to get licensed themselves. They don’t want to have the cost of maintaining that infrastructure and added risk to the business. With a Malta B2C license, we can white label our platform. We can manage everything for them.”
While the company retains a multi-faceted approach including casino games and sports betting, it is its esports betting services that perhaps have performed strongest during the pandemic. It is expected this surge in interest and participation in esports betting will see the industry grow to be worth over $1.1 billion by the end of the year.
Unsurprising perhaps then that FansUnite has now set up a dedicated online esports division to nurture and grow their interests in this fast-growing and lucrative market.
With projected consolidated revenue of $15-$16 million by 2022, FansUnite looks to have a very bright future, regardless of the pandemic.