- FansUnite (TSX:FANS) announced on Wednesday (July 13) that it has entered into a licensing agreement with Lovell Brothers Limited, owners of Dragon Bet
- The partnership is to launch a new online sports betting platform called dragonbet.co.uk
- The agreement is for a three year period
- FansUnite will license its Chameleon white-label betting software to Dragon Bet for a digital wagering portal
- The company said it plans to continue expanding to different marketplaces and securing more B2B clients
- Shares of FansUnite are up 5.26 per cent in Toronto to C$0.20
FansUnite Entertainment (FANS) has entered into a licensing agreement with Lovell Brothers Limited to launch an online sports betting platform.
Lovell Brothers, which owns Dragon Bet, will host the platform at dragonbet.co.uk and will be powered by FansUnite’s iGaming solution.
Dragon Bet acts as the digital brand of John Lovell Racing, a bookmaker in Welsh racing and gambling that began its operations over 50 years ago.
As part of the agreement, FansUnite will license its Chameleon white-label betting software to Dragon Bet for a new sports betting portal that will also have betting products specific to Welsh sports betting fans.
“Given the growing popularity of online betting, the Lovells have created a new digital brand to deliver a tailored array of iGaming solutions, powered by our robust technology,” Scott Burton, CEO of FansUnite, said in a press release. “[Dragon Bet’s] rich history within the Welsh racing and betting community, coupled with their large customer network makes them a perfect fit for our Chameleon iGaming platform and we look forward to working with them.”
Gambling and sports betting in the UK are projected to reach £12.5 billion in 2022. The agreement will put FansUnite in a strong position to expand its presence in the UK and build on its McBookie footprint. McBookie is the company’s wholly-owned subsidiary and a sportsbook in Scotland.
Thanks to the company’s new partnership with the Lovell Brothers, FansUnite said it would continue to expand to new marketplaces and secure more B2B clients worldwide.
Shares of FansUnite are up 5.26 per cent in Toronto to C$0.20.