GeoComply and Betting Hero Complete Acquisition
The acquisition of Betting Hero has been officially completed under a new entity, Hero Group Corp. The entity is controlled by co-founders Jai Maw and Jeremy Jakary, with financial backing from GeoComply.
This deal, first announced in June, involves the sale of Betting Hero by sports and entertainment company FansUnite to its co-founders and GeoComply for a total of $37.5 million.
Ownership and Strategic Investment
Following the transaction, Maw and Jakary now jointly own 60% of Betting Hero, with GeoComply holding the remaining 40%.
GeoComply’s investment is expected to play a crucial role in scaling Betting Hero’s operations, enhancing the company’s ability to provide tailored solutions for the sports betting industry.
Jai Maw, commenting on the partnership, expressed excitement about the collaboration with GeoComply, emphasizing that both companies share a common mission of improving the industry. “We are really excited to work with GeoComply across the entirety of their business and ours,” said Maw.
“They are a company that prioritizes the needs of their clients and are on a mission to help operators improve the industry for all. At Betting Hero, we share a similar vision and mission.”
Betting Hero’s Transition and Future Direction
Prior to this sale, Betting Hero operated as a wholly-owned U.S. subsidiary of FansUnite, which acquired the business’s parent company, American Affiliate, in 2021.
With GeoComply’s financial backing and continued leadership from Maw and Jakary, Betting Hero is poised to further solidify its position within the industry across the U.S. market.
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