HeadsUp eyes M&A with media partner ahead of Canada betting launch

| By Richard Mulligan
HeadsUp Entertainment is in negotiations with a strategic media partner as a potential merger candidate or acquisition.

HeadsUp Entertainment International is in negotiations with a strategic media partner as a potential merger candidate or acquisition to create unique market access and lower than industry standard costs for player acquisition ahead of entry into Canada’s sports betting market.

The company will be launching its media content delivery platforms in Canada in the first week of January which are designed to target viewers and build its base of players in anticipation of the launch of its online gaming products once the path to legalisation and licensing in Canada is complete.

Calgary-headquartered HeadsUp is also currently negotiating with two sportsbook software providers.

“The rapidly evolving opportunities in the Canadian market, as well as in other countries, are very encouraging and our team has been anticipating licensing and government regulation that we are strategically poised to take advantage of,” said HeadsUp president and CEO Doug Wilson.

In November 2020, the Canadian federal government introduced a bill (C-218) to the House of Commons that, if passed by both House and Senate, would legalise single-game sports wagering within the country’s 10 provinces and three territories. It is anticipated that this bill will pass in the spring of 2021 and HeadsUp wants to be positioned to be a major player in the sector.

The forthcoming legislation and subsequent changes to the Criminal Code of Canada will allow for HeadsUp to be positioned for rapid growth, taking to market platforms in sports betting, into an industry estimated to be over $14bn in annual gross gaming revenue as estimated by the Canadian Gaming Association.

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