Kings Entertainment receives approval for business combination with Sports Venture
It will hold a meeting on October 25 to receive shareholder approval for this move.
Kings Entertainment announced it has received conditional approval from the Canadian Securities Exchange (CSE) regarding its business combination with Sports Venture Holdings (SVH). The latter business is the parent company of the prominent Bet99 sportsbook brand.
Kings Entertainment is currently positioning itself to become a leader within the online lottery and casino space. It will hold a meeting on October 25 for the purpose of seeking, among other things, shareholder approval for the business combination which will be made in accordance with the policies of the CSE.
The conditional approval means a great deal for the online casino company. It states its purpose is to grow its business organically, meaning through acquisitions of complementary businesses such as Sport Ventures.
Kings Entertainment CEO Steve Budin commented: “Receipt of the CSE conditional approval is an important step forward in the completion of the business combination. We now look forward to holding our shareholder meeting on October 25, 2022 so that we hear from our shareholders and share our excitement about our future with Bet99. We hope to close this transformational transaction shortly following our shareholder meeting.
“We believe the acquisition of SVH is fully aligned with our business objectives and serves to further bolster our position as a market leader and innovator.”
In relation to the meeting, Kings Entertainment prepared, filed and mailed a management information circular, named ‘The Circular.’ On this document is a draft listing statement which was prepared in accordance with the policies of the CSE and includes detailed information about the business combination. The company has urged all shareholders to read it thoroughly.
It is expected that the company will change its name, so that the resulting issuer will operate under the name ‘Interactive Entertainment Group Inc.’
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