Betr Holdings has acquired FansUnite Entertainment’s Chameleon platform.
Established in 2022 by Joey Levy and YouTuber turned boxer Jake Paul, Betr acquired the Chameleon platform for over $7 million, with 60% of the deal paid in cash and the remaining 40% in stock.
The acquisition of Chameleon came after Betr’s expansion earlier this year, and was pushed to the market prior to March Madness. Also this year, Betr was fined AUD 210,000 (USD 141,000) for violating advertising regulations ahead of the 2022 Melbourne Cup.
Chameleon is a gaming platform solution developed by FansUnite Entertainment. The platform offers a full suite of online gaming solutions, including player account management, sports betting engine, and casino management. Chameleon’s goal is to provide online gaming operators with a reliable, secure, and efficient platform to help them expand their gaming business and improve their operational efficiency.
Betr’s Founder and CEO Joey Levy said, “We are excited to acquire the Chameleon platform from FansUnite and welcome the engineering team that has been working on the platform for years to the Betr family.”
“This is a transformative deal for Betr that allows us to further solidify our core strategy while creating significant gross margin for our business model.”
FansUnite’s CEO stated that the deal demonstrates their commitment and ability to bring FansUnite onto a profitable path. Additionally, they are pleased to continue to benefit from the equity stake in Betr as they see tremendous potential in the company.
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FansUnite is an online gaming company headquartered in Canada, founded in 2014, with its primary business covering online gambling and sports betting. FansUnite provides comprehensive gaming solutions, including casino games, sports betting, online lotteries, and slots. Its platform also offers various tools and technologies, including payment processing, customer service, anti-fraud protection, and marketing tools.
The goal of FansUnite is to become a leader in the online gaming industry and provide high-quality gaming and gambling experiences globally. Its stock has already been listed on the Canadian Securities Exchange and is seeking to further expand its business.