Fansunite Entertainment Inc (OTC: FUNFF), a Canadian online sports betting platform, announced Wednesday it had engaged gaming law firm, Ifrah Law PLLC, to pursue entering the U.S. through a licensing strategy.
What Happened: FansUnite plans to expand rapidly this year into the U.S., starting in New Jersey. In a press release, the company said the decision is due to interest in its sports betting and iGaming solutions from casino and gambling operators in the U.S. FansUnite will be working with Jeff Ifrah, founder of Ifrah Law, to pursue expansion.
Ifrah is a lawyer who is well known for his legal involvement in the North American iGaming industry.
Why It Matters: Online sports betting has become a big deal during COVID-19 pandemic lockdowns as casinos have been closed or open with limited capacity. Sports fans in the U.S. and in Canada have moved online to continue their gambling and multiple online betting companies have caught the eye of investors.
In the U.S., platforms such as Penn National Gaming, Inc. (NASDAQ: PENN) and DraftKings Inc (NYSE: DKNG) have garnered a lot of attention. In Canada, online betting platforms have been slower to roll out, with Canadians voting on Bill C13 on Feb. 17. Esports companies in the U.S. and Canada have spent the past year expanding into more states and eventually into the provinces, respectively, as local governments in each country move to legalize single sports betting.
What’s Next: Despite the likelihood Canada will legalize single sports betting this year, Canadian companies are still eager to enter the U.S. market.
“We’ve been following FansUnite’s recent growth and we look forward to working with their team to expand their footprint into the U.S. market,” said Ifrah.
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