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FansUnite Announces Private Placement Led by Strategic Investor Tekkorp Capital

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FansUnite Entertainment Inc. announced a non-brokered private placement of units of the Company (the Units) at a price of $0.08 per Unit for aggregate gross proceeds of $2,000,000 (the Offering).

In connection with the Offering, Tekkorp Capital (Tekkorp), an investment firm that advises and invests in innovative public and private companies within the global digital gaming industry, has agreed to acquire 13,750,000 Units of the financing.

“We are active investors in the sports and gaming industry and look for great businesses with strong leadership in market segments we like. Scott and his team at FansUnite tick all the boxes for us and we are happy to support in their journey to grow the company and shareholder value for all investors,” Matt Davey, Founder & Chairman of Tekkorp Capital, said.

“This private placement offers us an opportunity to work with a strategic investor group consisting of top executives who have helped build and grow some of the largest gaming companies globally. They have expressed a strong interest to support our strategy in achieving our profitability and growth targets. To date, we have made great strides in maximizing cost efficiencies while executing initiatives to improve our top and bottom line,” Scott Burton, CEO of FansUnite, said.

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Each Unit will consist of one common share in the capital of the Company (each, a Common Share) and one Common Share purchase warrant of the Company (each, a Warrant). Each Warrant will entitle the holder thereof to purchase one Common Share (each a Warrant Share) at a price of $0.12 per Warrant Share for a period of 36 months after the closing date of the Offering.

It is anticipated that the net proceeds from the Offering will be used for general corporate working capital purposes. The Company may pay certain finders a fee in connection with the sale of Units to purchasers introduced to the Company by such finders.

The closing of the Offering may occur in one or more tranches, the first of which is expected to close on or about March 9, 2023, and subsequent tranche(s) as may be agreed by the Company and the subscribers. Closing of the Offering is subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange, and will occur within 45 days from the date hereof.

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Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

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BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

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“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

  • Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
  • Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
  • Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

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Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.

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