Kings Entertainment Group has moved one step closer to acquiring Bet99.
The company has received conditional approval from the Canadian Securities Exchange (CSE) to execute a planned merger with Sports Venture Holdings (SVH), Bet99’s parent company.
Both parties put pen to paper on a business combination deal in May, a deal Kings is hoping will strengthen its position in the Canadian sports betting market.
In particular, the company has high hopes for Ontario, where Bet99 recently received approval from the Alcohol and Gaming Commission of Ontario (AGCO). But before Kings’ dreams can become a reality, it must first cross another hurdle: Kings must receive shareholder approval.