- Isle of Man OGRA license allows LOOT.BET online esports betting platform to significantly expand its global reach
- Licence benefits also include increased white-label opportunities, financial and logistical advantages and a safer environment for gamers everywhere
MONTREAL, Aug. 02, 2022 (GLOBE NEWSWIRE) -- React Gaming Group Inc. (“React Gaming” or the “Corporation”) (TSXV: RGG, OTCQB: ITMZF) is pleased to announce that its wholly-owned LOOT.BET subsidiary has launched on July 31, 2022 its Isle of Man-licensed online esports betting platform. This new license will significantly expand LOOT.BET’s global reach and facilitate its operations throughout these countries.
“This is truly a huge step forward for LOOT.BET’s expansion plans in the B2C and B2B markets,” said Leigh Hughes, CEO of React Gaming. “In addition to providing gamers with the most compelling betting solutions, we will be able to offer white-label solutions to a much larger market, giving us the means to expand LOOT.BET’s global reach and strengthen our brand awareness in the esports space.”
In the coming days, LOOT.BET plans to transfer the majority of its current players to the Isle of Man license.
The Isle of Man promotes the highest standards of jurisdictional control in the gaming industry, with extremely high ethical standards for owners and investors, making its license one of the toughest to acquire. The Isle of Man Gambling Supervision Commission gives out the fewest licenses per year. In addition, the license granted by that regulatory body has many financial and logistical benefits that will allow React Gaming, through its LOOT.BET platform, to offer continuously fun, safe and responsible gaming experiences for gamers around the world.
About LOOT.BET
LOOT.BET is a leading company in the esports betting sector, with a focus on live betting and online gaming and building an exceptional product for its 500,000+ registered users. Supported by a professional operational and software development team of over 50 employees, LOOT.BET is world-renowned not only as an established and reliable esports betting platform, but also as a known supporter of the esports industry and a member of the Esports Integrity Commission. For more information, please visit LOOT.BET.
About React Gaming Group
React Gaming Group (formerly known as Intema Solutions Inc.) (TSXV: RGG) is a publicly traded holding company that stands at the forefront of the esports and iGaming industry. By investing in innovative technologies that enhance tournaments, teams and wagering, we provide our users with gaming platforms that produce non-stop action, exciting outcomes and unparalleled enjoyment. Through the use of intelligent data, we also connect our sponsors to robust communities within the rapidly evolving industry, ensuring maximum engagement and substantial reward. For more information, please visit us at reactgaming.ca and follow us on LinkedIn, Twitter, Instagram and YouTube.
Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Corporation's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Corporation's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Corporation’s activities, including: that the Corporation's assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and gaming; the inability to obtain, or maintain, gaming license(s); and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Corporation, including its results and financial condition. Except as required by securities law, the Corporation does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
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CONTACT INFORMATION
REACT GAMING GROUP INC.
Leigh Hughes
1-514-861-1881
info@reactgaming.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98fca59c-0156-4f7f-a2cf-6c3101bf3c91
