Kings Entertainment Prepares to Enter the Metaverse

The global online gaming innovator signs agreement with global digital asset advisory firm, paving the way for expansion into the next frontier of entertainment

VANCOUVER, BC, Feb. 8, 2022 /PRNewswire/ - Kings Entertainment Group Inc. (CSE: JKPT) ("Kings Entertainment" or the "Company"), parent company of global online gaming innovators LottoKings and WinTrillions, today announced its intent to research and develop strategies to prepare for the next frontier of online gaming, the Metaverse.

Known for its position at the forefront of the global online gaming sector, Kings Entertainment has now set its sights on the Metaverse for future expansion. The Company has signed an agreement with a leading global digital asset investment and capital markets advisory firm, offering deep blockchain expertise and a network of highly sought-after and recognized Metaverse experts with a world-leading track record of executing on projects for Fortune 500 companies, governments and digital asset offerings from the venture incubation phase to liquidity.

The Metaverse is a network of 3D virtual worlds focused on social connection. Often described as a single, universal virtual world blending virtual and augmented reality¹, the Metaverse has the potential to transform the world of online gaming, as players seek increasingly sophisticated gaming experiences.

"We're very focused on our role as innovators within the gaming industry, continually pushing the boundaries to create the next great experience for players," said Steve Budin, CEO of Kings Entertainment. "In 1997, when others were taking telephone sports wagers, I was developing an Internet strategy – now, it's time to prepare for the next evolution of online entertainment, the Metaverse."

In preparation for this exciting next phase, Kings Entertainment has secured a soon to be announced URL and is actively exploring purchase options in the virtual Vegas City area of  Decentraland² The Company has also created an internal division responsible for Metaverse initiatives, with the goal of leading the global gaming industry into this new universe.

About Kings Entertainment
Kings Entertainment Group Inc. (CSE:JKPT)  is the parent company of global lottery brands LottoKings and WinTrillions. As international online service providers for lottery, casino, and sportsbook gambling, these brands leverage their ability to acquire engaged players through renowned lottery offerings, then engage players in a range of casino and sportsbook offerings. LottoKings and WinTrillions have attracted and retained millions of player sign-ups since their inceptions.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that the Company anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve but is not limited to statements with respect to: the Company's business and business plans, including the Company's entrance into the Metaverse; the Company's strategy and current focus on developing brands in the global online gaming market; and global market opportunities in the online gaming space, including in respect of anticipated growth, progress of legalization in various jurisdictions and growth in other jurisdictions. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Kings Entertainment Group Inc.