Victory Square Technologies Inc is the latest organization to welcome the Canadian Senate’s passage of Bill C-218, a bill that legalizes single-game sports wagering in Canada.
Known as The Safe and Regulated Sports Betting Act, Bill C-218 repeals a section of Canada’s criminal code, which makes wagering on a single sporting event outcome illegal in Canada.
Victory Square has two portfolio companies which, it said, will benefit from the announcement: GameOn Entertainment Technologies and FansUnite Entertainment. FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming. GameOn Entertainment Technologies empowers sports and entertainment content providers with a simple and accessible gamification platform.
Once the Bill C-218 receives Royal Assent, the firm said it anticipates many opportunities to license and or joint venture across the 10 provinces and three territories in Canada and also in the legalized global markets.
“The Senate adoption of Bill C-218 will have a significant positive impact upon Victory Square portfolio companies; GameOn and FansUnite,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.
He added: “Both GameOn and FansUnite have strategically positioned their respective companies to capitalize upon the upcoming legal sport wagering opportunities in Canada and those legal in the USA and beyond.
“GameOn’s proprietary interactive gaming models will complement live games and gaming operators, while FansUnite’s software will enable it to capitalize upon the legal gaming boon that is soon to come.”