Nye danske online casinoer, lottery and sportsbook operator Kings Entertainment Group Incorporated announced that it will now be able to access a "broader capital base" through an upcoming listing on the Canadian Securities Exchange.
The Vancouver-based company used an official press release issued Friday to announce that this new move will support its global expansion plans, and its shares will begin listing on the Toronto Stock Exchange starting today under the ticker symbol "JKPT."
Growing interest:
Founded in 2005, Kings Entertainment Group Incorporated is already responsible for the online lottery domains WinTrillions.com and LottoKings.com and said it now intends to use its new listing "to attract and engage an international player base" to those sites, potentially expanding "into the live dealer casino games and sportsbook sectors."
The essential element:
Steve Boudin is CEO of Kings Entertainment Group Incorporated, and he used a press release to describe his company's entry into the Canadian Stock Exchange as a "critical component" in its overall growth plans. The executive also said that his company already has a reputation as "a recognized leader in the global online lottery sector" and will seek to use its existing "strong presence in Latin America" as a foundation for "international growth in the growing U.S. and European gaming markets."
Read Budin's statement...
Our strategy of using outstanding lottery offerings to attract casino players has been very successful, and we are now focused on leveraging that strength to grow our brands in the rapidly growing global online gaming market." A listing on the Canadian Stock Exchange will provide us with access to capital that will enable this expansion."
Focusing on the future:
Moving forward, Kings Entertainment Group Incorporated said it enters 2022 in an optimistic mood "as more and more jurisdictions regulate online gaming," and intends to continue to focus "on obtaining the necessary licenses and software to enter these emerging markets."
Attractive Probability:
Kings Entertainment Group Incorporated used an official Jan. 17 press release to explain that it initially intended to list nearly 17.8 million shares on the Canadian Securities Exchange, hoping to generate $7 million in revenue immediately. The B.C.-based company also noted that the global iGaming market was worth a total of $55 billion in 2019 and is expected to grow about 16.5 percent annually through the end of 2026.
In a statement, Budin said the following.
"Our listing on the Canadian Stock 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."
Eleena Timmons