VANCOUVER, BC, Oct. 8, 2020 /CNW/ - Loop Insights Inc. (TSXV:
MTRX) (OTCQB: RACMF) (the "Company" or "Loop"), a provider of
contactless solutions and artificial intelligence ("AI") to drive
automated marketing, venue tracing, and contactless solutions to
the brick and mortar space, announces the signing of its first deal
with partner bdG Sports ("bdG") to provide venue tracing and
enhanced fan engagement solutions for its #VegasBubble, which will
feature NCAA Division I men's and women's basketball when the new
season launches next month.
LOOP ALLOWS #VEGASBUBBLE TO ACHIEVE CONTACTLESS AND CASHLESS
GOALS TOWARD ECONOMIC RECOVERY FOR LAS
VEGAS
The global pandemic has overturned nearly every team's schedule
for the upcoming season. It has created the need for an easily
accessible destination location where teams can play under the same
health and safety protocols. In response to the revised NCAA
Division I 2020-21 season, bdG, one of the nation's leading content
providers in college basketball programming, is playing host to
multiple men's and women's college basketball tournaments as well
as non-conference matchups and opportunities for additional
regular-season games.
Labeled the "#VegasBubble," bdG has worked closely with MGM
Resorts to establish comprehensive health and safety protocols for
its participants, officials, and game operations personnel with
Loop's venue tracing platform anchoring the overall plan. Games are
to be played at MGM Grand Garden Arena, Mandalay Bay Events Center,
and T-Mobile Arena between November 25 and
December 22, 2020, in Las
Vegas.
"Our No. 1 priority in offering up a safe and secure environment
for our teams was to have a robust safety plan," said
Brooks Downing, CEO of Kentucky-based bdG Sports. "And as a
complementary asset to our testing that we are planning to
implement is Loop Insight's venue tracing. It's easy to implement
and will help ensure that our teams will be safe and secure whether
they are in the resort or the gym."
The added layer of protection requires no app download and only
a tap of the user's device to check-in for protection and alerts.
Loop's SmarTap devices will be installed to log every individual
that enters the convention center's team areas, practice sites, and
the arenas. Each individual will check-in using their Loop provided
contact tracing wallet pass. In the case a person tests positive
during one of bdG's COVID-19 tests, Loop's solution allows event
staff to quickly identify individuals in proximity to that person
and isolate potentially infected individuals as soon as possible
for follow-up testing.
Moreover, Loop's contactless ticketing solution will add a
further layer of protection by removing the manual processes
associated with ticketing, while also delivering artificial
intelligence marketing solutions. This will provide real-time
personalized promotions and targeted engagement that reinvent the
live fan experience.
"Interest in Loop's integrated contactless platform by NCAA
Division I conferences, schools, and now events have been
significant over the past couple of months as they desperately
search for best of breed solutions that will allow them to safely
restart operations and generate revenue," said Rob Anson, CEO of Loop Insights. "Being
selected for the Vegas bubble is more validation and another major
opportunity for Loop to showcase our contactless capabilities on a
large-scale project with a global audience. With this agreement, it
is fair to say that Loop continues to be the leader in live venue
contactless technology."
CHANNEL RESELLER PARTNERSHIP WITH BDG SPORTS YIELDS IMMEDIATE
BIG RESULTS
On August 13, Loop announced a
channel reseller partnership with bdG Sports, a leading
representation, event management, and public relations firm
operating within the global sports marketing industry. bdG Sports
is one of the largest college basketball content providers in
the United States, having managed
NCAA Division I tournaments across North
America, including destination tournaments in Southwest Florida, Las Vegas, Canada, and The Bahamas.
Additionally, bdG manages two professional golf tournaments on
the Korn Ferry Tour in the Caribbean and has an extensive background with
both the LPGA and PGA TOUR. The firm boasts relationships with
brands such as Nike, ESPN, Gatorade, and MGM Resorts
International. As a result of COVID-19, these staple events and
many other bdG events have been disrupted, with no plans for
commencement without a solution for fans, athletes, and staff's
safety.
The partnership's purpose is for Loop's contactless tracing
& ticketing solution to provide bdG sporting events with an
opportunity to commence and provide economic recovery for clients.
This first and significant announcement to implement Loop into
bdG's #VegasBubble in just 45 days into the partnership is a
powerful testimony to the need for Loop's contactless solution
capabilities.
Brooks Downing
states, "many, within our extensive network of
business, are desperately searching for innovative solutions that
will allow them the opportunity to support a safe environment for
fans, staff, and athletes, but also optimize their revenue streams
that warrant the restart of operations. Loop effectively solves
both of these problems with its leading venue tracing solution,
which will provide the confidence needed as teams decide to restart
their schedules. And while this tool will allow fans to return to
events, Loop's contactless, artificial intelligence marketing
solutions will provide personalized promotions and targeted
engagement, leading to higher conversions and transaction revenue
at all events. This level of personalized omnichannel marketing is
incredibly valuable for our clients' resumption plans."
BDG PROVIDES DIRECT ACCESS TO ITS LIVE GLOBAL SPORTING EVENTS
AND ITS LARGE NETWORK OF CLIENTS WITHIN NBA, NHL, NCAA, AND
PROFESSIONAL GOLF
In addition to implementing Loop's contact tracing product into
its current and future events, bdG Sports also plays host to major
global sports events and will be implementing Loop's solutions.
Additionally, bdG will represent Loop as a reseller to its current
and future clients and enables direct access to the bdG Sports'
client base, which the Company anticipates will accelerate its
growth opportunities in the sports industry.
"This is a major opportunity for Loop as live event operators
are looking for two things that we can immediately solve: first,
they are desperately looking to safely re-open facilities in
efforts to save their respective seasons, and secondly, they are
looking for new line revenue opportunities to offset the losses
from reduced fan capacity in stadium," Anson said.
Watch Loop CEO, Rob Anson and bdG
Sports CEO, Brooks Downing discuss
their new partnership https://youtu.be/cL5wfYNO-Qs
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About bdG Sports:
bdG Sports is a representation,
event management, and public relations firm operating on an
international platform within the sports marketing industry. bdG
manages multiple college basketball and college hockey events in
the United States each season with
events in Southwest Florida, Las
Vegas and The Bahamas. bdG's golf
division manages the season-opening tournaments of the Korn Ferry
Tour each January in The Bahamas,
hosts premium Pro-Ams throughout the year and launched the
Unbridled Tour mini-tour series in 2020. For more information,
visit www.bdglobalsports.com or follow on @bdGlobalSports on
Twitter, Facebook or Instagram.
About Loop Insights:
Loop Insights Inc. is a
Vancouver-based Internet of Things
("IoT") technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Forward-Looking Statements/Information:
This news release contains certain statements which constitute
forward-looking statements or information. Such
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Loop's control, including
the impact of general economic conditions, industry conditions, and
competition from other industry participants, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Loop believes that the
expectations in its forward-looking statements are reasonable, they
are based on factors and assumptions concerning future events which
may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future results, levels of activity or achievements. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, Loop does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement. Trading in
the securities of Loop should be considered highly
speculative. There can be no assurance that Loop will be able to
achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange 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.
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SOURCE LOOP Insights Inc.