Kings Entertainment Is Listed on the Canadian Securities Exchange
Kings Entertainment Group Incorporated has been listed on the Canadian Securities Exchange and will begin trading as a public entity. This shift is expected to enable the Vancouver-based group to access a broader capital base as it plans to expand on the international scene. According to the official press release on Friday last week, its shares will be listed under the ‘JKPT’ ticker symbol on the Toronto bourse.
Steve Budin, who serves as the Chief Executive Officer for Kings Entertainment Group Incorporated, said during the announcement, “Our strategy of leveraging outstanding lottery offerings to create engaged casino players has proven 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 Canadian Securities Exchange will provide us access to the capital that will enable this expansion.”
Propeller for Future Growth
Trading on the Canadian stock market is a fundamental part of the group’s broader plans for growth and global expansion, hinted Budin during the press release. His statement read, “Our launch on the Canadian Securities Exchange will provide access to a much larger investor base and accelerate our global expansion. This is the first of several key steps in our long-term capital formation strategy.”
King Entertainment already holds a solid reputation as an established leader in the online lottery sector, thanks to the group’s flagship property, LottoKings. The enterprise will be leveraging its lottery brands’ reputation to attract an international customer base while making concerted efforts to branch out into the live dealer casino games and sports betting sectors.
Particularly, they’ll be using their already established presence in Latin America to further propel an entrance into the growing US market and European jurisdictions as well.
Kings Entertainment Group Incorporated was established in 2005. In nearly 17 years of operation, it has acquired operating rights to the online lottery domains at LottoKings.com and WinTrillions.com, two of Canada’s most prominent gambling platforms. Entering 2022, Kings Entertainment has expressed positive hopes for expansion owing to the increasing number of jurisdictions regulating online gaming.
More than 20 US states have approved regulated gambling in one form or the other, and Europe, the group’s other focal point of interest, is also rapidly advancing with favorable gambling legislation. The company stated that it intends to continue focusing on obtaining the required licensing and software to access these newly regulated markets.
According to Kings Entertainment, the global iGaming market was worth a combined $55 billion in 2019 and is now expected to see annual growth of around 16.5% between now and the end of 2026. They explained that they initially intend to make almost 17.8 million shares available to traders via the CSE (Canadian Securities Exchange), and are expected to profit in the region of $7 million.
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