he seven-figure sum will allow FSB to further enhance its platform, which boasts best-in-class tools for CRM, analytics, and mobile development.
FSB’s modern technology is aimed at existing casino and sports-betting operators who want to launch a new sportsbook or move into a new territory, as well as those requiring an upgrade from existing legacy systems currently preventing them from keeping pace with the competition.
In addition, the new relationship with SMT will allow FSB to provide its products and services to a growing number of media companies and sports rights-holders for whom sportsbook provision is of increasing interest.
FSB’s CEO and co-founder Dave McDowell said: “SMT’s investment equips us with the capital to directly compete against the industry’s largest sports betting suppliers, as well as delivering a great opportunity to provide our products to their extensive list of contacts.
“We are very excited about the potential this has for our ability to grow the business globally and supply an even better service to our existing clients and our future clients.”
SMT founder and CEO Gerard J. Hall said: “SMT’s investment in FSB satisfies two of our strategic growth initiatives in a single stroke. First, this investment represents the expansion of the SMT brand globally, and second, this investment represents the expansion of our brand into a new and exciting market sector.
“Our recently opened London office provided us with a unique vantage point from which we could evaluate the strategic merits of several UK-based investment opportunities. SMT is very excited about the implications this strategic investment in FSB will have on the managed sports betting sector. One and one is going to equal three.”