HeadsUp Entertainment Readying for New Laws
Ahead of changes to Canadian laws around online gambling and sports betting, HeadsUp Entertainment International is reviewing possible mergers and acquisitions in 2021.
HeadUp Entertainment, the global media company based in Calgary Canada, is hard at work getting a handle on the enormous potential of online wagers over the next year. The Canadian Federal Government introduced a new regulation model to the House of Commons in November 2020. Known as Bill C-2018, if it passes in both the House and the Senate, single-game sports bets will be legalised. This will take effect across the 10 provinces and three territories in Canada between March and June 2021.
With the online betting markets in Canada and the United States of America opening, much movement in this sector is expected. Operators are going to be focusing on finetuning their eligibility to enter the industry.
New Leadership, New Campaigns
In preparation for the new gambling landscape, the firm recently appointed Doug Wilson as President and Chief Executive Officer of its headquarters. Wilson joins previously announced Mark Hutchinson on the management team, and both will also be nominated for inclusion into the HeadsUp Entertainment Board of Directors.
Wilson will be in charge of the launch of player acquisition campaigns. This process has already begun and lays the groundwork for the readiness of Canadian gambling laws relaxing by spring. In an effort to modernise and extend its reach, HeadsUp Entertainment has begun talks with two online bookmaker software providers. This is in addition to negotiations over an acquisition or merger with a new strategic media partner.
Wilson commented on his firm’s current strategy, explaining that his team is making sure it is in the right position to take advantage of the changes in licensing and regulations when they occur. The business is allowing its organisational rulings to be defined by regional market standards. As a result of this approach, HeadsUp Entertainment recently declined to acquire VIP Entertainment N.V. The company did not want to be seen by American or Canadian regulators as part and parcel of a grey market corporation.
A Multi-Billion Dollar Industry
Speaking of the developments, HeadsUp Entertainment said that the change in legislation will allow the company to position itself for rapid, enormous growth. Making market platforms in sports betting available will allow the organisation entry into an industry offering CA$14 billion+ in annual gross gaming revenue, as per the estimation of the Canadian Gaming Association.