HeadsUp Entertainment – the former owners of the Canadian Poker Tour – said it is in the “final stage” of negotiations to acquire an online betting and gaming business.
In the business' first update in three years, it revealed that is in the final stages of a deal to acquire between 50% and 100% of the shares of a “a licensed online sportsbook and online casino platform”. It aims to sign a letter of intent related to the acquisition in the coming two weeks.
While it has not yet named the business in question, it described it as an operator that “has processed over $110.0m in wagers and reported over $5.2m in revenue in the past four years”.
In addition, HeadsUp said its management has targeted a second possible acquisition as well as a licensing agreement with a global media partner.