Shareholders in Vancouver-based FansUnite Entertainment Inc. have approved the sale of FansUnite US Inc. to Hero Group Corp., a deal that was first reported in June.
FansUnite and its U.S. subsidiary that was operating the Betting Hero business are selling 60 percent to Betting Hero’s co-founders, Jai Maw and Jeremy Jakary (Hero Group Corp.), with GeoComply Solutions Inc., also based in Vancouver, taking the remaining 40 percent, for an aggregate purchase price of $37.5 million USD.
The company said it will delist its common shares from the Toronto Stock Exchange Aug. 21., at which point trading of the shares will cease in Canada.
“Jai and Jeremy have built a tremendous business with a laser-like vision to support their customers’ mission for the best possible user experience through the sign-up process,” said Anna Sainsbury, GeoComply’s Co-Founder and CEO, said in June. “At GeoComply, we share that vision and through this intended investment will help Betting Hero further their efforts and deploy more resources and focus into serving our customers and their patrons throughout North America.”
Betting Hero is described as a “concierge service” for igaming enthusiasts, to help customers sign up and use top mobile betting sites.
A key cog of their business is live events, in sports bars, casinos, and sporting events, which in part educate people with personalized assistance around registration, funding, betting, and withdrawal.
Betting Hero has been in business for six years and operates in more than 20 regulated gaming states.
According to a news release, its activation business has converted over 500,000 new users to online sportsbook and igaming operators, so they’ve very much been at the forefront of creating new audiences in the regulated U.S. landscape. Nearly all of those were betting at a casino, arena, or in the Betting Hero bar network.
