Kings Entertainment Group has signed a business combination agreement with Sports Venture Holdings (SVH), the parent company of online sportsbook and casino brand Bet99.
“The combination of Kings Entertainment, a company led by pioneers of the international online sports gambling industry, and SVH, the parent company of operators of the market-leading Bet99 brand, will be transformative for the Canadian sports betting sector. Our vision for Kings has always been to build leadership positions within each of the regulated jurisdictions that we enter, and this agreement will certainly accelerate that goal within the Canadian landscape and beyond,” Steve Budin, CEO of Kings Entertainment, said.
“Merging with an internationally recognized online betting veteran such as Kings is a natural next step for SVH. Bringing the Bet99 brand to the public capital markets, through Kings’ CSE and OTC listings, will not only support expansion by engaging a much broader investor base, but will also build the Bet99 brand with an even wider audience of betting enthusiasts,” Jared Beber, CEO of Sports Venture Holdings, said.
Current Bet99 CEO Jared Beber will take on the CEO role of the merged company, with Kings Entertainment CEO Steve Budin continuing to lead LottoKings operations and acting in an advisory role. Former CEO and Founder of international gaming giant Bragg Gaming, Adam Arviv, will step into the Executive Chair role of the combined entity.