FSB nets £23m investment from Canadian private equity firm
Clairvest chooses the B2B sportsbook supplier for its 13th egaming investment after a two-year evaluation
Sportsbook supplier FSB Technology today annoucned a £23m cash injection from Canadian private equity fund Clairvest Group.
FSB pledged to use the investment, which could rise by a further £4m, to pursue growth opportunities in regulated markets with a keen focus on the US.
Clairvest has a 19-year track record of investing in the global gaming and gambling industry, including an eight-year investment in Indiana-based Centaur Gaming.
Clairvest president Michael Wagman said: “We are impressed with FSB’s leadership, technology platform and tremendous growth track record to date.
“Having spent over two years evaluating the sports betting space, we view FSB as a strong leader with a promising opportunity to expand into new regulated sports betting markets.
“We are excited to back the company’s co-founders and to partner with proven and strongly-aligned gaming entrepreneurs,” he added.
FSB CEO David McDowell said the investment was “an important milestone for the company” and would be instrumental in supporting an aggressive growth plan in new markets.
The Toronto-headquartered Clairvest also invested in Rivers Casino, in partnership with Rush Street Gaming back in 2010, before overseeing its sale to Churchill Downs in 2018.