- Fandom Sports (FDM) has submitted applications for both a Gaming Service License and Critical Gaming Supply License from the MGA
- Once accepted by the MGA, Fandom Sports will be able to offer a full spectrum of online gambling services in Europe
- Gross gaming revenue within the EU sector is expected to rise to €29.3 billion by 2022
- Fandom Sports Media Corp is a live sports and Esports entertainment company
- Fandom Sports Media Corp. (FDM) is unchanged, trading at C$0.22 per share at 1 pm ET
Fandom Sports (FDM) has submitted applications to the Malta Gaming Authority (MGA) for a Gaming Service License and Critical Gaming Supply License.
Upon acceptance by the MGA, Fandom Sports will be able to offer a full spectrum of online gambling services in Europe covering casinos, Fixed Odds Betting, and Pool Betting. Upon receiving MGA approval, Fandom Sports will be joining a select group of global operators and gaming supply providers including PokerStars, Betfair, Unibet and FansUnite which operate their businesses within MGA regulations.
The Malta Gaming Authority is a gambling regulatory organization that provides top-tier industry-standard gaming licenses that are in line with EU laws and regulations.
With the MGA licenses, Fandom Sports will receive credibility as a trusted betting platform supplier and Esports and Sports operator in Europe. The company will also obtain access to new markets in which operators registered under EU legislation can utilize Fandom Sports’ B2B and B2C products, respectively.
Other benefits of the MGA licenses include access to additional payment suppliers which may provide lower transaction fees and more flexible types of payment solutions.
Fandom Sports subsidiary Fandom Sports N.V currently operates under a Curacao Internet Gaming License. As a sublicense holder, Fandom Esports Curacao N.V is able to market, promote and offer its games of chance in all jurisdictions other than France, Spain, Australia, the Netherlands and certain other Dutch-affiliated jurisdictions.
The company is awaiting sign-off of banking compliance documentation to finalize payment gateways so it can launch its wagering platform for Esports under the existing Curacao licensing framework.
The Critical Gaming Supply License being applied for by Fandom Sports enables the Company to market its Unified Information Access (UIA) based platform to a broad spectrum of licensed Esports and sports betting operators throughout Europe. The B2C license will allow Fandom Sports to operate its own brands and game offerings within the EU market.
The online gambling market in the EU is growing at about 10 per cent per year and gross gaming revenue from the EU sector is expected to increase to €29.3 billion by 2022.
David Vinokurov, CEO and President, Fandom Sports Media commented on the license.
“Having a Malta Gaming Authority license, which is widely considered one of the most prestigious gambling licenses in the industry, will enable Fandom Sports to begin implementing its B2B business and affiliate strategy. Having a Tier 1 global license will provide the company with the credibility required to solidify relationships with business partners currently in the development pipeline.”
Fandom Sports Media Corp. (FDM) is unchanged, trading at C$0.22 per share at 1 pm ET.
