Kings Entertainment Group has moved one step closer to acquiring Bet99
Kings Entertainment Group has moved I stone's throw closer to acquiring Bet99.
The company has received conditional favorable reception from the Canadian River Securities Exchange (CSE) to execute a planned merger with Sports Venture Holdings (SVH), Bet99’s parent company.
Both parties position pen to paper on a concern combination deal in May, a business deal Kings is hoping will fortify its office inward the Canadian sports betting market.
In particular, the accompany has high hopes for Ontario, where Bet99 recently received commendation from the Alcohol and Gaming Commission of Ontario (AGCO). But before Kings’ dreams can buoy get a reality, it must foremost cross another hurdle: Kings must find shareholder approval.
To this end, it has scheduled a shareholder coming together for 25 October to seek their permission inwards accordance with CSE policy. Assuming they vote inward favour, Kings hopes to concluded the transaction shortly after the meeting.
“Receipt of the CSE conditional favourable reception is an important stone's throw forwards inwards the windup of the business sector combination,” said Steve Budin, Kings Entertainment CEO.
“We at present looking forrad to holding our shareholder meeting on Oct 25, 2022, so that we try from our shareholders and apportion our excitation about our time to come with Bet99.
“We trust to secretive this transformational transaction shortly followers our shareholder meeting.”
If everything goes as planned, Kings testament undergo a rebrand post-completion. The merged companies testament get Interactive Entertainment Group (IEG).
“We remain excited to continue with the previously proclaimed concern compounding with Bet99 to create Interactive Entertainment Group,” Budin continued.
He added: “We trust the acquisition of SVH is fully aligned with our byplay objectives and serves to further bolster up our place as a market place leader and innovator.”
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