Global gaming operator HeadsUp Entertainment made an important announcement regarding its strategic vision to enter the regulated Canadian sports betting industry. The announcement was made on behalf of HeadsUp Entertainment a few days after the Canadian Govt. instigated Bill C-218 to the House of Commons in the last month, which is expected to pass in Spring 2021, to legalize single-game sports wagering in Canada. If sports betting is legalized in Canada, it will be the fourth in line after New Jersey, Nevada, and Pennsylvania.
If both the upper and the lower houses, that is, The House of Commons and the Senate, pass the bill unanimously, single-game sports wagering will become legalized in 10 states and three regions of the nation. With this, HeadsUp Entertainment will play a pivotal role in framing the future of the Canadian sports betting industry.
If HeadsUp Entertainment succeeds in transforming the sports betting market into a huge industry, it will generate annual gross revenue of around $14 Billion, as estimated by the Canadian Gaming Association. The company generally focuses on online gaming, eSports, sports betting, online poker, online lottery, charity fundraising, mobile 50/50, and blockchain-based payment solutions. If it gets a chance to enter the sports betting market in Canada, it will be the first gaming operator to do so.
Currently, HeadsUp Entertainment International Inc is negotiating the merger between 2 sportsbook software providers and a strategic media partner to lower the existing cost of player acquisition. This move will help the company to enter the sports betting industry in Canada very quickly. Other companies like DraftKings, MGM Resorts International, Bragg Gaming Group, and GVC Holdings are also waiting to take this opportunity after the government passes a green signal to HeadsUp Entertainment.
The company has planned to launch its media content delivery platforms in the first week of January with a focus to target viewers and solidify its base before the launch of its actual gaming products, which can only happen once the legalization and licensing process in Canada get completed, by the passing of the Bill C-218.
Talking about the new strategic vision of the company, its president and CEO Doug Wilson said in a statement,