GeoComply announced it would take a 40% stake in Betting Hero, while the founders agreed to acquire the other 60% from FansUnite and its subsidiary FansUnite US. The aggregate purchase price is US$37.5m, with closing scheduled on or about 15 August 2024.
The transaction changes ownership of a service that supports customer sign-ups for online betting and gaming operators.
The day’s most important stories, free. One email a day.
Michigan recorded 589,449 active sportsbook accounts on 1 November, narrowly ahead of New York’s 587,752, according to data from geolocation provider GeoComply. Pennsylvania ranked third with 570,386; the figures measure account activity, not betting handle, and people may hold accounts with multiple operators.
On Nov. 1, Michigan had 589,449 active betting accounts, according to a geolocation technology provider. That put Michigan just 0.3% ahead of New York, which had 587,752. Pennsylvania took third place with 570,386.
Nevada's Gaming Control Board (NGCB) alleges Kalshi failed to block restricted contracts in the state and says it intends to fine the company $120,000 per day for non-compliance. The board's investigators say they placed nine restricted trades while connected to Nevada mobile networks; Kalshi denies wrongdoing and says its geofencing arrangements meet the requirements.
It was reported that GeoComply counted more than 3.2m location checks on partner platforms during Alberta’s first regulated online gambling week. The company said its figures measure verification activity rather than bets, deposits or revenue.
Hero Group completed its acquisition of Betting Hero from FansUnite Entertainment for $37.5m, adjusted on a cash-free, debt-free basis. Betting Hero’s co-founders indirectly control 60% of Hero Group, while GeoComply provides financial backing and controls 40%. FansUnite said it will delist from the Toronto Stock Exchange on 21 August.
Trustly will use OneComply’s platform to manage gaming licence applications and renewals, OneComply said. OneComply is part of GeoComply, and Trustly said the platform centralises application information and helps it track renewals.