Victory Square Technologies Inc (CSE:VST) (OTCMKTS:VSQTF) (FRA:6F6) is cheering the passage of a landmark bill legalizing single-game sport betting in Canada.
Bill C-128 – The Safe and Regulated Sports Betting Act – passed the Senate earlier this week by a margin of 57 to 20, with five abstentions.
The bill is now awaiting Royal Assent to become law in Canada.
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Vancouver-based Victory Square, an investment company that holds a number of startups in its portfolio, told investors that two of its portfolio firms in particular will benefit from the law’s passage: FansUnite Entertainment Inc (CSE:FANS), a global sports and entertainment group, and GameOn Entertainment Technologies (CSE:GET), a gaming technology firm.
Victory Square CEO Shafin Diamond Tejani told investors that the Senate’s adoption of Bill C-128 will have “significant positive impact” on the two companies.
“Both GameOn and FansUnite have strategically positioned their respective companies to capitalize upon the upcoming legal sport wagering opportunities in Canada and those legal in the USA and beyond,” Tejani said in a statement.
“GameOn’s proprietary interactive gaming models will complement live games and gaming operators, while FansUnite’s software will enable it to capitalize upon the legal gaming boon that is soon to come.”
The law will come into effect on a date set by Prime Minister Justin Trudeau and his cabinet once it receives Royal Assent.
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