Canadian online casino, lottery and sportsbook operator Kings Entertainment Group Incorporated has announced that it will now be able to gain access to a ‘broader capital base’ via its upcoming listing on the Canadian Securities Exchange.
The Vancouver-headquartered firm used an official Friday press release to detail that the fresh move will also serve to better facilitate its plans for global expansion and see its shares begin being listed on the Toronto bourse from later today under the ‘JKPT’ ticker symbol.
Established in 2005, Kings Entertainment Group Incorporated is already responsible for the online lottery domains at WinTrillions.com and LottoKings.com and pronounced that it now intends to use its new listing ‘to attract and engage an international player base’ to these sites by potentially expanding ‘into the live-dealer casino games and sportsbook sectors’.
Steve Budin serves as the Chief Executive Officer for Kings Entertainment Group Incorporated and he used the press release to describe his enterprise’s move onto the Canadian Securities Exchange as a ‘critical component’ to its overall plans for growth. The supremo furthermore proclaimed that his company already holds a reputation as ‘an established leader in the global online lottery sector’ and will seek to utilize its existing ‘strong presence in Latin America’ as a foundation for ‘international growth in the burgeoning United States and European gaming markets’.
Read a statement from Budin…
“Our strategy of leveraging outstanding lottery offerings to create engaged casino players has proven very successful and we’re now focused on harnessing this strength to develop our brands in the rapidly growing global online gaming market. Listing on the Canadian Securities Exchange will provide us access to the capital that will enable this expansion.”
Moving forward and Kings Entertainment Group Incorporated asserted that it is entering 2022 in an optimistic mood ‘as an increasing number of jurisdictions regulate online gaming’ and intends to continue focusing ‘on obtaining the required licensing and software to access these emerging markets’.
Kings Entertainment Group Incorporated used an official January 17 press release to explain that it initially intends to make almost 17.8 million shares available to traders via the Canadian Securities Exchange in hopes of being able to immediately pocket proceeds in the region of $7 million. The British Columbia enterprise moreover noted that the global iGaming market was worth a combined $55 billion in 2019 and is now expected to chalk up annual growth of around 16.5% between now and the end of 2026.
Budin’s statement read…
“Our launch on the Canadian Securities Exchange will provide access to a much larger investor base and accelerate our global expansion. This is the first of several key steps in our long-term capital formation strategy.”