The deal will most likely proceed with a merge of the operations of FansUnite and Askott Entertainment. Based on the available information, the two companies struck an agreement on June 22.
Moving forward, a newly-established subsidiary of FansUnite will add the operations of Askott and continue to operate as a corporation and a fully-owned subsidiary by FansUnite.
Darius Eghdami, CEO of FansUnite Entertainment had this to say commenting on the pivotal partnership:
“This merger with Askott will represent our most significant milestone to date and transform us into one of Canada’s leading gaming companies.”
Eghdami believes that the incorporation of Askott would allow the company to have a fully integrated gaming asset that allows FansUnite to target both the B2C and B2B segments, while developing cutting-edge solutions.
Askott is a known leader in the development of esports solutions, with an emphasis on igaming and betting. Today, Askott's software serves thousands of sports fans and bettors who place wagers daily.
Investors have also responded positively to the development, with Shafin Diamond Tejani, CEO of Victory Square Technologies, arguing that Askott is a perfect fit for FansUnite operations, which already runs a smart-contract based blockchain sportsbook program.
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