Canadian igaming business HeadsUp Entertainment International has signed a letter of intent (LOI) to acquire a 50% stake in online gambling operator VIP Entertainment Group.

Financial terms of the agreement were not disclosed, but HeadsUp said the LOI sets out a three-step due diligence process that should allow the acquisition to go through next month.

HeadsUp said should the purchase go ahead as expected, the combination would allow it to grow its revenue base in licensed jurisdictions around the world.

Founded in 2014, VIP is active in the online casino, sports wagering and online poker markets, operating five sportsbook brands led by VipBets.com, five online casino brands and an internet poker platform.

Read the full story on iGB North America.