Esports Entertainment supports proposed bill to legalize single-event sports betting in Canada

Esports Entertainment Group Inc (NASDAQ:GMBL), an esports entertainment and online gambling company, told investors Tuesday that it is pleased to see proposed Canadian Federal Government legislation that would legalize single-event sports wagering in the country.

The proposed bill, C-13, would give provinces and territories the ability to offer single-event sport betting products and the opportunity to manage single-event sport betting in their respective jurisdictions. In provinces and territories that choose to offer single-event sport betting, Canadians could gamble online or in physical facilities, the company said.

“Esports Entertainment Group is excited to work within the proposed new regulatory framework to bring our SportNation and VIE Esports brands to Canadian residents,” CEO Grant Johnson said in a statement. “Our VIE platform is the only esports vertical focused wagering platform with Tier 1 licenses and a track record of working within a transparent and comprehensive compliance environment. We look forward to adding Canada to the list of jurisdictions where our platform is available for esports fans to engage.”

READ: Esports Entertainment trumpets fiscal 1Q revenue following Argyll acquisition

The bill was introduced to the House of Commons and underwent its first reading on November 26.

“Having personally worked with Canadian Parliament member Dennis Mills in 1998 on one of the earliest legislative efforts regarding legalization through Private Members Bill C-353, the current substantive progress is extremely exciting and we commend the federal government for their efforts to legalize single-event wagering,” Johnson said. “There is strong cross-party support and clear demand to modernize sports betting laws in Canada, and we are well positioned to capitalize on this new frontier should the amendment pass.”

Esports Entertainment is a licensed online company with a specific focus on esports and gaming, offering fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg. 

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors