LottoKings and WinTrillions parent company Kings Entertainment Group has begun trading on the Canadian Securities Exchange as of Monday, January 24. The new listing, which had been approved last week, is expected to provide the Vancouver-based business with access to a broader capital base and accelerate its global expansion plans.
The shares of the company are now trading on the CSE under the ticker “JKPT.” According to a press release, the move comes as Kings’ flagship property, LottoKings, capitalizes on its reputation as an industry innovator to attract and engage an international player base, expanding into the live dealer casino games and sportsbook verticals.
“The launch on the CSE is a critical component of the company’s growth plan,” noted Steve Budin, CEO of Kings Entertainment. “Our strategy of leveraging outstanding lottery offerings to create engaged casino players has proved very successful and we’re now focused on harnessing this strength to develop our brands in the rapidly growing global online gaming market. Listing on the CSE will provide us access to the capital that will enable this expansion.”
Kings Entertainment describes itself as led by “a team of experienced industry players,” among them CEO Steve Budin, “a pioneer of the modern sports gambling industry.” The group has established partnerships with global companies in the casino space to offer gaming, combined with programs designed to attract, engage, retain and grow gaming clients.
The CSE welcomes Kings Entertainment Group Inc. (CSE:JKPT) to the exchange! View listing: https://t.co/mo0lYAEeCg $JKPT pic.twitter.com/rbmK66hI7c
— CSE (@CSE_News) January 24, 2022
The company’s flagship brand LottoKings was established in 2005, and remains a profitable online service provider for lottery, casino and sportsbook gambling in the international gaming space. Both LottoKings and its sister company, WinTrillions, have “attracted and retained millions” of player sign-ups since inception.
The company cites figures which show the global market for online gaming surpassed $55 billion in 2019 as proof of the sector’s growth. The global market is further anticipated to grow at 16.5% CAGR between 2020 and 2026, while the US sports betting market is expected to nearly double over the next eight years, approaching $10 billion by the end of the decade.
Kings Entertainment also describes continued progress in the legalization of gambling in European countries, including France, Germany, Spain, Malta and Italy, and European market diversification as supporting an opportunity there.
Kings Entertainment credits its strong presence in the Latin American market as providing “a solid foundation” for international growth in the burgeoning US and European gaming markets. As an increasing number of jurisdictions regulate iGaming, the company plans to continue to focus on obtaining the required licensing and software to access these emerging markets.