Planet Ventures Comments on Bill to Legalize Single-Event Wagering
VANCOUVER, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Planet Ventures Inc. (TSX-V: PXI; OTC: PNXPF; FSE: P6U1) (“Planet” or the “Company”) is pleased with the Canadian Federal Government's recent introduction of Bill C-13, which seeks to legalize single-event wagering.
“This is an exciting development that Planet Ventures deeply supports,” says Zula Kropivnitski, Chief Financial Officer of Planet Ventures. “Canada’s Minister of Justice and its Attorney General’s decision to introduce this important legislation in aid of single-event sports betting in their jurisdiction should greatly affect the gaming sector in Canada in a very positive way. This is a great decision for Canadian businesses, and it will go a long way in boosting the entertainment industry in this Country.”
As an investment issuer currently focused on eSports and eGaming, the Company has been exploring numerous possible investments in developing video-gaming platforms that would allow wagering on the outcome of a single 1 versus 1 video-game match. If approved, this legislation would allow Planet to launch such a platform in multiple markets including Canada and the United Kingdom, as Planet currently has access to a much-coveted Tier 1 UK Gaming License through its fully owned subsidiary of First XI.
The ban on single-event wagering is estimated by the Canadian Gaming Association to cost the Canadian gaming industry $14 billion annually. According to theScore.com*, the market potential for online gaming in Canada of between US$3.8 billion and US$5.4 billion in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the U.S. and globally.
About Planet Ventures Inc.
Planet is an investment issuer listed on the TSXV, that is focused on investing in disruptive companies and industries that have high growth potential. Planet’s unique portfolio driven investment policies provide its investors with access to emerging and high-growth opportunities while shielding them from any formidable downside.
For more information, please visit Planet’s website: https://planetventuresinc.com/
ON BEHALF OF THE BOARD
“Zula Kropivnitski”
Zula Kropivnitski
INVESTOR RELATIONS CONTACT
PLANET VENTURES INC.
Tel: (604) 681-0084
Email: info@planetventuresinc.com
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