Intema Solutions Receives Isle of Man Betting License
Canadian online gaming and sports betting operator Intema Solutions has been awarded a betting license by the Isle of Man gaming authorities.
By getting the gaming license from the regulator, Intema Solutions has fulfilled the final regulatory requirement to complete the acquisition of Livestream Gaming. The island nation’s iGaming authority also recently granted a license to Hacksaw Gaming.
In May 2021, the Canadian-based company showed interest in acquiring the esports betting operator by signing a letter of interest which began acquisition talks between the two companies.
In January, Intema and Livestream Gaming agreed to a definitive share purchase agreement and signed the deal worth $14.75m (~£10.97m).
When the purchase finally gets completed, Intema will fully control LOOT.BET, an online gaming platform owned by Livestream Gaming.
It is expected that the company will use its newly gained license to boost the gaming site's offerings and expand its customer base.
Launched in 2016, LOOT.BET holds a Curaçao gaming license. The betting site also partners PandaScore for its esports data and odds feeds.
We are finally at the last stage of the Livestream acquisition and will be closing the transaction any day now. While the process has taken longer than expected, LOOT.BET is a major online gaming platform and a key part of Intema's growth plans. Throughout the acquisition period, we have been working hard in parallel to build our esports and iGaming ecosystem, and the addition of LOOT.BET will accelerate our progress on that front significantly.