Calgary Alberta – TheNewswire – July 14, 2022 – VIP Entertainment Technologies Inc. (“VIP” or the “Company”) (TSXV:VIP) is pleased to announce that its common shares will begin trading on the Toronto Stock Exchange Venture (“TSXV”) under the trading ticker symbol “VIP” today. VIP becomes one of the only online sports books to be trading on the TSXV.
About VIP Entertainment Technologies Inc.
VIP was formed in 2016 to deliver sports betting, casino games and poker to the top tiers of sports bettors and poker players. Since 2016, VIP has handled roughly $150,000,000 in wagers through its licensed online gaming services. In 2019 VIP launched its flagship brand, VIP Bets, which has handled roughly $80,000,000 in wagers, grossing approximately $5,000,000 in revenue.
VIP Bets offers fixed odds to bet on sports, casino, poker and esports. VIP’s gaming License enables the Company to offer its current suite of products in certain countries, and VIP intends to grow its business through acquisition of additional licenses. As well, VIP is engaged in the process to add an Ontario Gaming License.
VIP has identified and built a robust plan to expand its business operations. This expansion will include marketing initiatives to grow its player base as well as acquisitions, partnership opportunities, and launches of new products resulting in additional offerings beyond its current operation. The executive management team at VIP has a history of success in the gambling industry, both online and brick-and-mortar, and they have identified opportunities to enhance its current suite of products to build VIP into a well-rounded and robust gaming business. The gaming industry is expected to grow to more $93B through 2023 and VIP intends to expand it business to include more than just the current online sports betting and casino operations.
Through the identification of key acquisition and partnership targets, the executive team of VIP led by CEO Joel Donais, intends to quickly expand it operations. VIP is has begun discussions with various potential targets in the gambling and gaming industry, both online and brick-and-mortar operators, software developers, game developers and rewards programs. VIP believes Q3 and Q4 of 2022 will show tremendous growth in key metrics for VIP, from player growth, revenues, business-to-business partnerships, and an increase in efficiency through this strategy to increase the suite of product offerings while combining its acquisitions to operate as a group, sharing key-data, player databases, and marketing initiatives.
“We believe VIP has positioned itself to grow into a premier entertainment business focusing on the gambling and gaming industry stated Joel Donais, CEO of VIP. Through the go forward strategy identified and taking place over the next few months, VIP believes it will become a diverse player in the Canadian, and global entertainment, gambling, and gaming business.”
For further information please visit www.vipentertainmentgroup.ca or contact:
Joel Donais – Chief Executive Officer
+1-587-436-5635
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that VIP anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements in this news release include but are not limited to listing of the Company’s common shares on the TSXV.
Forward-looking statements are based on assumptions, including expectations and assumptions concerning: interest and foreign exchange rates; capital efficiencies, cost saving and synergies; growth and growth rates; and the anticipated benefits of listing on the TSXV and the Company’s growth plan. While VIP considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments; and risks relating to the listing of the Company’s common shares on the TSXV. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in public disclosure recorded and filed under the Company’s profile on www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of VIP Entertainment Technologies which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. VIP Entertainment Technologies Inc disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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