i3 Interactive eyeing North American market
Company is active in online poker in India.
i3 Interactive, Inc., on Thursday said it is continuing its strategy of building an online gaming presence globally, starting with the emerging markets in the United States, Canada and India.
The Toronto, Canada-based company is a provider of an online and mobile gaming platform designed to provide sports fans worldwide with a social gaming product, and a sports betting and casino product offering.
In what it termed a “corporate update to its patient shareholders,” i3 said in an effort to break into the various emerging global markets it is targeting, the company has secured partnerships with key social media influencers.
“i3’s strategy remains as it was when the company was formed: assemble an experienced management team to build an online gaming presence globally,” the company said in a statement. “Since inception the company has had several key developments toward this goal. Starting with key markets of focus in the United States, Canada, and India, the company has made progress that will continue to drive growth in these markets and serve as a springboard into additional markets as the foundation continues to set.”
Company officials said the three initial markets were chosen based on current opportunity, future potential, regulatory posture and relevant management experience.
In March, i3 commenced its strategy to enter the US market. i3 said it and its joint venture partner, which it described as a “large, US-facing commercial partner,” offer land-based casinos a turnkey solution, using the casinos’ existing licenses to offer market access and a local brand, to offer online gaming to their existing customer base.
According to Thursday’s statement, i3 and its JV partner continue to identify potential clients for their services in the North American gambling market in line with the company’s North America strategy.
The two companies said they have identified several potential clients and are at various stages of discussions and negotiations with these potential partners.
“As more new US states legalize and regulate sports betting and iGaming, i3 will seek further opportunities in these jurisdictions,” the company added.
i3 noted it already had a product launched in the Canadian market, and company officials say they “remain excited” about opportunities there.
“With recent developments in regulation, starting with the province of Ontario but likely leading to other provinces following suit, i3 has decided to remove its Canadian offering and is actively going through a licensing evaluation process,” the company said.
Earlier this year, i3 made a majority acquisition of what is now BLITZPOKER, an online poker company in India. i3 also acquired a stake in the rapidly growing fantasy sports market in India via its investment in what is now BLITZPOOLS. The company said it will provide further updates on both of these businesses in the coming weeks.
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