Fandom Sports Commences Application Process for Malta Gaming Service License and Critical Gaming Supply License
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - Fandom Sports Media Corp. (CSE: FDM) (OTCQB: FDMSF) (FSE: TQ43) ("Fandom Sports" or the "Company"), is pleased to announce that the Company has commenced applications towards approval from the Malta Gaming Authority ("MGA") for both a Gaming Service License and Critical Gaming Supply License.
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - Fandom Sports Media Corp. (CSE: FDM) (OTCQB: FDMSF) (FSE: TQ43) ("Fandom Sports" or the "Company"), is pleased to announce that the Company has commenced applications towards approval from the Malta Gaming Authority ("MGA") for both 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 Casino, 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.
Corporate Update Webinar
Fandom Sports Media's CEO David Vinokurov will be conducting a corporate update webinar today at 2:00 EST. Registration and questions submission
Malta Gaming License Overview
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.
According to the EU Gaming and Betting Association, the EU online gambling market is growing at about 10% per year and the gross gaming revenue of the EU sector is expected to rise to €29.3 billion by 20221.
"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 Company's development pipeline" says David Vinokurov, CEO and President, Fandom Sports Media Corp.
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The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).
The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events. This press release contains forward-looking statements about FANDOM SPORTS. Forward-looking statements may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect FANDOM SPORTS' good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to FANDOM SPORTS' annual and quarterly reports filed on SEDAR for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.
SOURCE FANDOM SPORTS
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