Calgary, Alberta – TheNewswire - September 09, 2022 - VIP Entertainment Technologies Inc. (TSXV:VIP) (“VIP” or the “Company”) announces early results from its launch of VIPFREE2PLAY.com and provides update on Wallfair NV and Wallfair Ltd (“Wallfair”) acquisition.

VIP previously announced its strategic partnership with Prime Domain. This partnership allowed VIP access to Prime’s database of users to introduce VIP’s Free-to-Play initiative and give users a place for entertainment and engagement products aside from its existing gambling focused products. This initiative is of importance to VIP in the ever-growing competitive landscape to acquire new users, with the goal of generating revenue for the Company through subscription and advertising services. Since the launch of the partnership program on VIP’s Free-to-Play site vipfree2play.com, VIP has acquired approximately 5,000 new users to its free-to-play products and contests. The Company can see this user growth continue to expand exponentially as new products and services are added to the sites and Prime domain continues to reach into its existing user base with these initiatives as they continue to find ways to introduce VIP to potential users around the globe.

As part of VIP’s growth through acquisition strategy, the Company would like to update the progress of the acquisition of Wallfair. Wallfair is a company specializing in social event-trading with their proprietary software which allows users to create their own betting markets or take part in markets created by other Wallfair users. VIP and Wallfair are pleased to announce that they have completed the majority of the due diligence and expect to close the transaction in the coming weeks.

Since its launch, Wallfair has amassed 3500 unique users, and has handled roughly 230,000 user generated betting markets through its proprietary platform. These betting markets include sporting events, political events, and entertainment events and in total has created betting markets with wagers of over $200,000. VIP is excited to see continued user engagement through the offerings possible via the Wallfair acquisition, and an increase in users to the platform through introduction of the Wallfair peer-to-peer service to its existing users, and new users created through the VIP user acquisition strategy utilizing the Free-To-Play initiatives and through its partnership with Prime Domain.

About VIP Entertainment Technologies Inc.

VIP delivers sports betting, casino games and poker through its VIP Bets platform. In addition, it has recently launched its Free to Play platform, VIPFree2Play. The Company has plans to continue to expand its offering to the gaming industry. Since 2016, VIP has handled approximately $150,000,000 in wagers through its licensed online gaming services.

For further information please visit www.vipentertainmentgroup.ca or contact:

Joel Donais - Chief Executive Officer

+1-587-436-5635

joel@vipentertaingroup.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 VIP anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. 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 statements are based on assumptions, including expectations and assumptions concerning the acquisition of Innovum and the Company’s growth plan. While VIP considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in public disclosure recorded and filed under the Company’s profile on www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of VIP Entertainment Technologies which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. VIP Entertainment Technologies Inc 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 law.