The parent company of Bet99 Sportsbook will be acquired by Kings Entertainment, it was announced yesterday.
Sports Venture Holdings released the information following the agreement with Kings Entertainment. It is described as "an arm’s length business combination."
SVH is a holding company of subsidiaries that operate Bet99, one of the largest brands in online sports and casino betting serving Canada.
Steve Budin, CEO of Kings, said: “"Our vision has always been to build leadership positions within each of the regulated jurisdictions that we enter and this agreement will certainly accelerate that goal within the Canadian landscape and beyond."
Current Bet99 CEO Jared Beber will take on the CEO role of the merged company, with Kings’ Steve Budin continuing to lead LottoKings operations and acting in an advisory role.
Former CEO and founder of international gaming giant Bragg Gaming, Adam Arviv, will step into the executive chair role of the combined entity.
