U.S. Integrity and Odds On Compliance have announced a merger to create a global compliance and integrity solution.
The two companies have previously worked together on a prohibited bettor solution that has been widely adopted across many United States gambling and sporting stakeholders.
Following the Iowa collegiate betting scandal, ProhiBet and U.S. Integrity have seen a spate of deals in the collegiate scene, partnering with operators such as the BIG12 and AAC, as well as other college competitions. In addition, the companies recently expanded partnerships with the likes of UFC and Hard Rock Digital to be provide an all-encompassing integrity solution.
Financial nuances of the proposed merger remain undisclosed, but the companies promise that clients can benefit from a “wider geographic reach, continued innovation, and an even greater commitment to delivering tailored solutions that drive success and sustainability.”
The merger is expected to close in late October, subject to the usual shareholder and regulatory approvals and closing conditions.
The ProhiBet solution works across several US states, and helps sports betting stakeholders, and league bodies track athletes, coaches and administrative staff who may have betting restrictions placed on them. Given conferences such as the BIG12 and UFC have athletes and teams operating across a multitude of jurisdictions, ProhiBet promises to remove any ambiguity about differing rules per state.
After the companies combine, Matt Holt, former CEO of U.S. Integrity will take up the position of CEO of the combined company. Eric Frank, who served as CEO of Odds Compliance, will become President of the new venture.
Holt commented in a release: We are thrilled to unite the strengths of U.S. Integrity and Odds On Compliance to create a firm that is poised to redefine the standards of excellence in the sports betting and gambling compliance industry.”
Frank added: “This merger is a testament to our joint commitment to helping the industry navigate the complexities of this rapidly growing and highly regulated sector. This fusion of strengths will enable us to offer a comprehensive suite of compliance and integrity technology products and services.”
The most recent announcement was Mountain West Conference, adding the full suite of U.S. Integrity solutions to its existing partnership with Prohibet.