FansUnite B2C
Platform Continues Strong Performance As Sport Returns
-McBookie
Ltd sees Increase of 412% Year-over-Year on Gross Gaming
Revenue-
Vancouver, British
Columbia, Dundee, Scotland, September 9th, 2020 -- InvestorsHub
NewsWire -- FansUnite Entertainment Inc. (CSE: FANS) (OTC: FUNFF), ("FansUnite" or the "Company"), a
technology company providing leading online gaming solutions is
pleased to announce McBookie Ltd ("McBookie") has continued its
impressive performance since becoming part of FansUnite.
The Scottish
based operator increased its overall
year-over-year ("YOY") turnover for the months of July and August
by 108% - from $3M CAD to $6.3M CAD, with 78% of the turnover
growth led by the return of sport.
The increase
resulted in a YOY increase in Gross Gaming Revenue over the same period of
412%, resulting in gross gaming revenue of $371K for July and
August 2020 and a gross margin of $161K. During the same period
last year the platform generated $72K in gross gaming revenue
resulting in a gross margin loss of $66K.
With the strong
results over the last two months, McBookie is preparing to continue
the positive trend with the return of the English Premier League
and the other major European leagues in the coming
weeks.
"We are very
pleased that McBookie has been able to continue its strong 2020
performance despite the slowdown in sports betting from the global
pandemic," said Scott Burton, CEO of FansUnite. "The figures for
the past 60 days have been exceptional and continue to validate our
belief in this leading B2C betting brand and the
management team behind it. For the duration of 2020, major European
leagues are set to begin again and present a great opportunity for
McBookie to capture the attention of new and existing customers. We
will work directly with McBookie in ensuring their presence
in the U.K. expands and they are in a position to service this
growing user base of bettors."
"The team at
FansUnite has worked very hard to improve all aspects of our
business since joining FansUnite and it is great to see
that replicated in
the numbers," said Paul Petrie, founder and Director of McBookie.
"With just one month to wait until the whole of Scottish football
is back, having the resources and expertise of FansUnite helps puts
us in an excellent position to continue building on our recent
success."
While the return of
sport has provided an uptick in betting volume, casino turnover
during the two-month period was strong as well with $3.1M wagered.
McBookie will be looking to build on these numbers with the
recent launch of a Live Casino product
earlier this month.
"After launching a
successful Virtual Sports betting offering in March, we decided to
expand our platform with the addition of a Live Casino," continued
Paul Petrie. "It represents another betting
alternative
for our loyal customers and helps us diversify our revenue
stream."
About FansUnite Entertainment Inc.
FansUnite is a
global sports and entertainment company, focusing on technology
related to regulated and lawful online gaming and other
related products. FansUnite has
produced a one of a kind complete iGaming platform, with a sports
and esports focus geared for the next generation of online bettors
and casino players. The platform includes products for pre-match
betting, in-play betting, daily fantasy, content and a certified
RNG to produce casino style chance games. The platform operates
multiple B2C brands and B2B software for the online gambling
industry. FansUnite also looks to acquire technology platforms and
assets with high-growth potential in new or developing
markets.
For further
information, please contact:
Prit Singh Investor
Relations at FansUnite
ir@fansunite.com
(905)
510-7636
Scott Burton Chief
Executive Officer of FansUnite
scott@fansunite.com
Darius Eghdami
President of FansUnite
darius@fansunite.com
NEITHER THE CANADIAN
SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE
REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
FORWARD-LOOKING
STATEMENTS: Certain information contained herein
may constitute "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as
"believes," "belief," "expects," "intends,"
"anticipates,"
"potential," "should," "may," "will," "plans," "continue" or
similar expressions to be uncertain and forward-looking.
Forward-looking statements may include, without limitation,
statements relating to future outlook and anticipated events such
as: the leveraging
of GameCo's US license infrastructure; GameCo becoming an official
reseller of the platform; the Company's entrance into the US market
and the Company's strategy with respect thereto; the importance of
the US market to the Company; impacts of the
GameCo/Askott partnership on the Company's success; the Company's
ability to become a leading technology platform and a leader in the
global I-gaming market, and to serve the gaming market; the
potential growth of the Company and the gaming market; the
increased
number of betting options; the ability of the Company to scale its
B2B arm and maintain its B2C platforms; the Company's unique
portfolio of assets; and discussion of future plans, projections,
objectives, estimates and forecasts and the timing related
thereto. Forward-looking statements are based on the Company's
estimates and are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of FansUnite to be
materially
different from those expressed or implied by such forward-looking
statements or forward-looking information. Additional information
regarding the risks and uncertainties relating to the Company's
business are contained under the heading "Risk Factors" in
the Company's Non-Offering Prospectus dated March 27, 2020 filed on
its issuer profile on SEDAR at www.sedar.com and risks related to
global pandemics, including the novel coronavirus (COVID-19) global
health pandemic, and the spread of other viruses or
pathogens and influence of macroeconomic developments. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward-looking information. The forward-looking
statements in this news release are made as of the date
of
this release. FansUnite disclaims and does not undertake to update
or revise any forward-looking statements or forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable securities
laws.