License Acquisition and Expansion Plans
VIP Entertainment Technologies, based in Calgary, has been granted a remote gaming license by the Kahnawake Gaming Commission (KGC). This allows the firm to offer sports betting, online live casino, poker, and esports wagering in most Canadian provinces, excluding Ontario. VIP Entertainment Technologies confirmed the news last Thursday, with further verification from the KGC, which has listed the firm as an authorised client provider on its website.
The process of acquiring the KGC remote gaming license began in February, driven by VIP’s goal to market and acquire new users in Canada. The company had significant earnings in this region from 2016 to late 2020.
VIP’s Future Growth and Market Positioning
With the new license, VIP can now deliver its full suite of services, including sports betting, casino, poker, and esports wagering. This aligns with the firm’s strategy to expand its core business in the igaming industry and transform into a ‘premier entertainment gaming company’.
In their announcement, VIP stated: “The completion of a Canadian-based gaming license is highly anticipated as VIP will immediately increase its user database with a substantial number of users in the company’s key demographic, key jurisdiction and expects to realize significant growth to its player related revenues.”
Moreover, VIP recently acquired a UK gaming license. With the addition of the KGC license, the firm is now poised to begin marketing to players in both jurisdictions, further enhancing its global reach.