Canadian gambling and lottery software developer Contagious Gaming has been okayed to provide online sports betting and casino services in the UK.
The TSX Venture-listed Contagious already had a UK Gambling Commission license to provide pool betting facilities and gambling software. On Tuesday, the company announced that its Contagious Sports Ltd subsidiary had received UKGC approval to provide facilities for real and virtual event betting and to operate an online casino.
Contagious Gaming CEO Peter Glancy said the expanded license represented “an important step” in the company’s bid to diversify its UK profile. Glancy said Contagious would look to operate “a comprehensive set of online gambling products, including virtual sports, casino and live in-play sportsbook on a white label and direct basis.”
Contagious recently handed in its fiscal Q3 report card covering the three months ending Dec. 31, 2015. Revenue improved 214% from Q2 to C$678k while its adjusted earnings loss fell 40% to $272k and the earnings loss improved about 10% to $696k.
Glancy heralded the “significant improvement” from Q2 by spotlighting the December closing of the company’s acquisition of German sports and race betting software outfit Digitote, whose Xturf B2B platform clients include Digiget, Winners and Betcenter. Glancy predicted further fiscal improvements in Q4 when Contagious can count on a full quarter’s contributions from Digitote.
Contagious might have counted on even greater improvements had its bid to acquire Liverpool-based pool betting operator Sportech PLC not gone sour last November. Contagious had predicted that the addition of the Sportech operations would have made the Canadian firm the “global leader in regulated pari-mutuel wagering” but Sportech reportedly didn’t find Contagious’ offer sufficiently compelling.