Online operator Betsson has acquired 28% of startup Slapshot Media Inc. Investments estimated at 3 million Canadian dollars (which is equal to 1.7 million pounds or 2.0 million euros). Slapshot Media Inc. provides marketing services and online gaming products in Canada. The joint efforts of the startup and Betsson should lay a solid foundation for high-quality licensed online gambling, slot machines, and online casinos and provide these services at the highest level.
Starting from August 27, betting in Canada will become legal, controlled by the state. For this reason, Betsson’s buyout of almost a third of Slapshot provides a better chance for adequate regulation of online sports betting and slots online Canada.
Terms of Slapshot and Betsson Cooperation
Internet services like Betsson and Slapshot Media will take part in the upcoming regulation of this area. The fact that such regulation will soon be implemented is undeniable as David Lametti has officially announced the date of the adoption of the law, according to which, the provinces will introduce permission to bet on selected sports events.
Against the background of this news, we see that now, Betsson’s positions are quite strong here since the company has the opportunity to increase its stake in the Slapshot project to 70% as well as has various options in the call right and other advantages.
What Do You Need to Know about the New Online Gaming Rules?
Recently, Ontario has changed some rules regarding the operation of online rules and regulations of the use of sites offering online sports betting. So, Ontario came to the need to take advantage of additional market opportunities. The Attorney General said at a press conference at Fallsview Casino that the province must create a secure environment for online sports betting. Some provinces reacted with a desire for new rules as soon as possible to start implementing the project.
Brief Extract from the Press Conference
Let’s take a short look at what the representatives of the authorities and business spoke about and what conclusions they came to.
- Online gambling in Canada will change in the near future, and this process has already begun with the introduction of Bill C-218 of 06/23/21. From that moment, express bets became possible throughout the country. This year, thanks to the new law, the licensing of gambling will begin at the official level.
- The provincial government has reached $1 billion Canadian dollars. So, Betsson’s investment is a timely and cost-effective solution.
- Betsson considers purchase from Slapshot Media Inc. a decisive step towards the most ambitious growth plans of a modern company in the North American market.
- The company expects to see significant growth in revenues from market regulation as Slapshot brings together innovation and useful know-how that empowers both partners.
- Today, Betsson AB is listed on the BETS stock exchange. The operator’s fresh investment doesn’t contradict the existence of a strategy of sustainable positions in provincial markets, especially since these markets are subject to regulation.
- All this information suggests that although the operator’s position somewhat shook in the second quarter of 2021 (according to the company’s earnings before taxes), investing in a promising startup is becoming a saving step and a serious move forward. Betsson’s CEO, Pontus Lindwall, emphasizes the importance of entry and growth in the North American market, although the benefits of strengthening the provincial regulation of online gambling are obvious.
As a reminder, recently, the operator acquired the Inkabet brand, which offers goods for bookmakers and casinos in South America. This purchase is an opportunity for the operator to implement its development strategies in Latin America and expand its presence in the global market. Thus, the operator is becoming an increasingly powerful player in the world of online casinos, gambling, and sports betting.
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