Since we shifted gears to the sports betting world in March 2019, ZenSports, our peer-to-peer betting product, has focused entirely on the international market.
Now, we are taking our first step towards getting licensed in the United States.
Through a deal inked with Strategic Gaming Management, we have acquired an option to purchase the Big Wheel Casino located in Lovelock, Nevada, with an additional option to operate the sports book at Baldini’s Sports Casino in Reno, Nevada. Both of these agreements will give ZenSports the all-important physical presence required by the Nevada Gaming Control Board to operate our mobile sports betting platform in the state.
One of our biggest hurdles in getting licensed to operate an internet/mobile sports betting platform in the U.S. is the requirement to own or partner with a land-based sportsbook and casino. Through our great relationship with Strategic Gaming Management, we were able to secure the option to purchase this business in Nevada, which is the first critical step in getting ZenSports licensed and operating in the state.
I originally met the CEO of Strategic Gaming Management (SGM), Grant Lincoln, back in January 2019. He subsequently made an angel investment in and became a consultant to ZenSports. Since that time, we have steadily grown our international peer-to-peer sports betting business, and raised funding from top investors like Jason Calacanis, Jor Law, and others.
“ZenSports is proving to be a force in the mobile and peer-to-peer sports betting world,” said Lincoln. “We’re excited to help give them an opportunity to expand into the Nevada market and make ZenSports a household name here.”
Now that we hold the right to buy and own a sportsbook and casino in Nevada, the next step in getting our mobile app operational there is to go through the licensing and technology certification process. We have retained the law firm of Lewis Roca to assist with the Nevada licensing process, and will work with BMM Testlabs for the technology certification process.
Overall, we are extremely excited to bring ZenSports to Nevada as a premier gaming licensee as soon as our applications can be approved.
ZenSports’ consumer product is a mobile peer-to-peer sports betting marketplace where anyone in any legal market in the world can create and accept sports bets with anyone else in any legal market in the world, without the need for a centralized bookmaker.
Consumers can quickly and easily create their own bets with their own odds and terms, or accept bets that others in the marketplace have created, all at a fraction of the cost that traditional bookmakers charge and all right from their phone. ZenSports gives bettors a cheaper, faster, and more trustworthy process for wagering on sports.
We also recently launched our new ZenSports for Businesses product suite, which gives sports, gaming, and media industry enterprises the ability to harness the power of our peer-to-peer sports betting and cryptocurrency payment technologies.