Business
Planet Ventures' Subsidiary Renews UK Gaming License
(via TheNewswire) V A N C O U V ER, British Columbia - TheNewswire...
About this update from Planet Ventures Inc
[{"type":"text","content":"Planet Ventures' Subsidiary Renews UK Gaming License(via TheNewswire)\n \n \nVANCOUVER, British Columbia - TheNewswire - April 21, 2020 - Planet Ventures Inc. (TSXV:PXI) (FSE:P6U) (\"Planet\" or the \"Company\") is pleased to announce that its subsidiary, First Eleven Ltd. (First XI), a UK & Brazil based eSports, gaming and media company, through its wholly owned subsidiary, Contagious Sports UK, has renewed its annual \"Remote Operating Gaming Licence\" issued under Part 5 of the UK Gambling Act 2005. \n\n\n \n\"I am delighted to confirm that the company has met with the UK Gaming Commissions meticulous and stringent legal requirements, as required by the Commission to renew this licence\" states Peter Glancy, founder of 1st Eleven. \"A UK Gaming license is considered by International standards to be a tier 1 licence due to the thorough procedural detail required by the UK gaming authorities. The renewal was issued on March 31st 2020 and is valid for the next twelve months with an annual renewal date on the 31st of March, 2021.\"\n\n\n \nMr. Glancy went on to comment: \"the licence will enhance our business portfolio, including our advanced influencer platform and proprietary tournament hosting technology. 1st Eleven is well positioned and intends to become a leading International eSports/ gaming and media business combining passion for gaming / eSports and influencers with cutting edge gaming technology.\"\n\n \n \nThe UK Gambling Commission Licence authorises the company to carry out the following activities: \n\n \n \n- to provide facilities for real event live in play and pre-match betting and white label to other third-party operators;\n\n\n \n- to manufacture, supply, install or adapt gambling software; \n\n\n \n- to provide facilities for pool betting; \n\n\n \n- additionally, the remote gaming licence provides Contagious Sports with additional Business to Business (\"B2B\") capabilities to provide the product to other third-party gambling operators who will transact directly with their customers \n\n \n \nZula Kropivnitski, Planet's Chief Financial Officer states: \"The renewal of the license will provide our subsidiary 1st Eleven and Contagious Sports the ability to monetize directly to the customer via business to client (\"B2C\") and direct to businesses via a business to business (\"B2B\") model. In addition, it...