FansUnite Entertainment Inc. announced that the Company has executed a Memorandum of Understanding to enter into a long-term licensing agreement with Lovell Brothers Limited, owners of Dragon Bet to launch a new online sports betting portal, www.dragonbet.co.uk, which will be powered by FansUnite's Chameleon iGaming platform. Dragon Bet will license FansUnite's Chameleon white-label betting software for its new online platform, which will launch in the U.K. later this year and include betting products that are customized for Welsh
sports betting fans. Utilizing FansUnite's Chameleon iGaming platform, Dragon Bet plans to grow its loyal customer base to become the leading bookmaker in Wales. This agreement reinforces FansUnite's ongoing commitment to expand its footprint globally, where its wagering solutions can be targeted to gambling operators in virtually any jurisdiction. The U.K. alone is expected to generate an estimated £12.5 billion in gambling and betting activities revenue in 2022. FansUnite already operates in this marketplace through its wholly-owned subsidiary, McBookie Ltd., a prominent sportsbook based in Scotland.