Fandom Sports Submits Application for Gaming Related Supplier
Approval for
Ontario, Canada
Vancouver,
British Columbia - March 23, 2022 -- InvestorsHub NewsWire
-- Fandom Sports Media Corp. (CSE: FDM) (OTC: FDMSF) (FRANKFURT: TQ43) ("Fandom Sports" or
the "Company"), is pleased to announce that its wholly-owned
subsidiary, Fandom Media Malta Ltd., has applied to the Alcohol and
Gaming Commission of Ontario (the "AGCO") to obtain
the Gaming
Related Supplier - Manufacturers License (the
"License"). The License will enable Fandom Sports to supply AGCO
approved sportsbooks with its machine learning and artificial
intelligence (AI) enabled Unified Information Access platform ("the
Platform) for esports and sports betting solutions for both
Peer-to-Peer and general betting markets.
Since
the Canadian
federal government enacted Bill C-218 in August
2021,
paving the
way for the provinces to implement a framework for legalized
single-event sports wagering, Ontario representing 40% of Canada's
population, became the first province to accept applications from
private iGaming operators. The AGCO announced in January 2022 that
it will launch a new online gaming market on April 4, 2022 through
iGaming Ontario, a subsidiary of the AGCO. The implementation of
Ontario's new online regime will allow private operators to enter
the market for the first time. Ontario is the first province in
Canada, where local lotteries traditionally have held a monopoly of
the country's gaming sector, to introduce such a licensing
system.
The combined
iCasino and Online Sports Betting market in Canada is estimated at
over US $2 billion in 2022 according to H2 Gambling Capital, with
Ontario widely expected to become one of the largest iGaming
markets in North America.
"Our
application submission to the AGCO represents another milestone for
Fandom Sports and its wholly owned subsidiaries.
In our quest
to build out the world's first self-contained prediction, rewards
and NFT ecosystem with an NFT marketplace, Fandom Sports is at the
vanguard of several hypergrowth industries; fan engagement,
predictions, wagering, NFTS and monetization tools for the global
content creator community.
The sheer
size and scope of Fandom Sports' addressable market is immense, and
we are laser focused on making considerable progress in each of the
above-mentioned verticals.
The next
several quarters represent a transformative period for the Company
as we look to capitalize on the convergence of these multi-billion
dollar trends," states David Vinokurov, Fandom Sports CEO and
President.
"PLAY.
PREDICT. GET REWARDED."
For additional
Information:
David
Vinokurov
CEO,
President
Fandom Sports
Media Corp.
Email:
info@fandomesports.com
Phone +1 (604)
256 6990
The CSE
has not reviewed and does not accept responsibility for the
adequacy and accuracy of this new release.
DISCLAIMER:
Certain statements made herein may contain forward-looking
information within the meaning of the applicable Canadian
securities laws ("forward looking statements"). Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "budgets", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negatives or thereof. Forward-looking statements herein
include, but are not limited to statements with respect to: the
affiliate marketing relationship with Elite Duels Corp. and the
entering into a definitive agreement for the affiliate marketing
partnership and the expected benefits to Fandom from the definitive
agreement; market acceptance of the Company's peer-to-peer wagering
platform; the Company's expectation of becoming a world-class
engaging eco-system for all ages fans and fans of wagering on live
Esports events;
and the expected growth and health of the Esports betting market in
general.
Forward-looking
statements by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results to be materially different from those
expressed or implied by the forward-looking statements. We have
made certain assumptions, which our management believes to be
reasonable, about the forward-looking statements, including the
ability to enter into a definitive affiliate marketing agreement
with Elite Duels Corp., the expected revenue and other benefits to
be generated by the relationship, as well as the ongoing
performance advantages of the Company's platform in comparison with
existing or future competitive offerings, and the future growth of
the market in which we compete. However, we can provide no
assurance that the forward-looking statements will prove to be
accurate. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
you should not place undue reliance on the forward-looking
statements or information contained herein. Important additional
information identifying risks and uncertainties and other factors
is contained in the section entitled "Risk and Uncertainties" in
the Company's most recent Management Discussion and Analysis filed
on SEDAR.
Except as
required by law, we do not intend to update forward-looking
statements whether as a result of new information, future events or
otherwise.
