Vancouver-based FansUnite Entertainment has completed the sale of its FansUnite US subsidiary and Betting Hero affiliate business for around $51 million.

The deal, which was first announced in June, means Betting Hero will now be majority-owned by its co-founders, Jai Maw and Jeremy Jakary, who will hold a total of 60% of the business. The other 40% of the new Hero Group Corp. parent company will be owned by Canadian geolocation compliance firm GeoComply.

Scott Burton, FansUnite’s CEO and board chair, said the completion of the sale represents, “the culmination of a tremendous amount of effort from the entire FansUnite team.”

“I am proud of what we have accomplished,” Burton added. “We wish the Betting Hero and GeoComply teams continued success and look forward to exploring new opportunities that will create value for our shareholders.”

FansUnite expects the Toronto Stock Exchange to delist the common shares of FansUnite on August 21, at which point trading of the shares will cease in the Canadian public market.

The company will distribute an aggregate amount of $26 million to its shareholders and will retain net cash of ‎approximately $500,000 to explore new business opportunities for the economic benefit of ‎its shareholders.

FansUnite’s portfolio of affiliate brands now includes only BetPrep after it sold Props.com to Third Planet Affiliates a few weeks ago.

Betting Hero is a live activation and research services company that leverages its “Hero” network to engage players directly through dynamic, face-to-face interactions at casinos, arenas, and other venues. The company says it delivers an 80%+ conversion rate from registration to active depositing customers, far exceeding industry averages.

As of late June, Betting Hero was active in more than 20 regulated gaming states in the U.S. and has delivered more than 500,000 bettors to the U.S. sports betting ecosystem after its entry into North Carolina’s new regulated market.

“As we look to 2025, it’s going to be a year of iteration and innovation,” Jakary told SBC Americas. “Digital will be a focus for us and we are really excited to show the market what we can do in 2025.”

Maw said in a release that the sale and the strategic financial backing from GeoComply will allow Betting Hero to “scale through our next growth phase.”

“We’re really excited to work with GeoComply across the entirety of their business and ours,” Maw added to SBC Americas. “They are a company that has developed a position in the market for themselves over the last several years that no one can argue with. We believe that we’ve developed a similar position for ourselves in our small subset of the industry.”

“GeoComply shares Jai and Jeremy’s vision to deliver the very best player experience for our industry,” added Anna Sainsbury, CEO of GeoComply.

“While digital analytics alone can offer great insights, they lack the in-person experience for operators to see, hear, and learn from real customer interactions. Betting Hero bridges that gap by delivering exceptional real-world UX insights. We experienced that firsthand ourselves as customers of their Research division, and now we’re excited to support Betting Hero in using that expertise to drive even greater growth.”