HeadsUp Entertainment, a self-described “global gaming operator and media company focusing on online gaming, online poker, eSports, sports betting, online lottery, mobile 50/50, charity fundraising platforms and blockchain based payment solutions,” has acquired 50% of the VIP Entertainment Group NV shares, according to a press release.
VIP is large in the online casino gaming space, and HeadsUp wants to be involved in that space even more.
This acquisition is thanks to an LOI, which reveals a 3-step due diligence process that must occur before this goes through. It should be finished within 45 days maximum, which would ensure this closed agreement in October. “This acquisition positions HeadsUp to grow its revenue base in licensed jurisdictions and is the first of several industry related growth strategies with 3 other acquisitions currently in negotiation,” the release continues.
On top of this, HeadsUp will be bringing in a new management team as well as a Board of Directors that will ensure it can “become a leader in gaming, lottery, 50/50 digital, bingo and eSports sectors,” the release concludes.
Remember, all trading carries risk. Past performance is no guarantee of future results.