FansUnite Entertainment Inc. Provides Corporate Strategy Outlook for 2020
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2020) - FansUnite Entertainment Inc. (CSE: FANS) ("FansUnite" or the "Company") a sports and entertainment company, is pleased to provide its outlook for 2020 and unveil its plans to continue its consolidation strategy since going public on May 5th, 2020. Concurrent to the recent go public financing of $3.1M, FansUnite completed the acquisition of McBookie, a leading provider of regulated betting services in the United Kingdom, focusing on the Scottish marketplace. The recent acquisition of McBookie provides a strong foundation for the future of FansUnite as a technology company supporting the global gaming markets.
FansUnite is optimistic about the future of the gaming industry. Globally, there is an estimated $1 trillion1 wagered annually.
The global online gambling market size is expected to reach USD 102.97 billion by 2025, registering a CAGR of 11.5% from 2019 to 2025, according to a new report by Grand View Research, Inc2.
The four US states with legal online poker sites - New Jersey, Nevada, Delaware, and Pennsylvania - reported record revenues in March and Colorado legalized sports betting on May 1, 2020.
"The online gambling market represents a large segment in the growing gaming industry as more bettors move towards digital platforms," said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. "Our view remains that even after the current global pandemic subsides, growth rates will continue to surge across the board due to the ease of access, shift in consumer habits and the availability of gaming platforms."
With the recent acquisition of McBookie, management will continue to focus efforts on growing the platform in the United Kingdom, most notably to Scottish players. The existing McBookie platform offers Sports Betting, Casino and Virtual sports, with a heavy focus on soccer and horse racing.
"2020 is a year of growth for the McBookie platform and the ongoing development of the FansUnite sportsbook," continued Darius Eghdami. "The Mcbookie platform, along with our own technology are the primary drivers of the B2C segment of our business and will serve as integral components to our value proposition."
Through FansUnite's internal B2B brand, Bet Maker Labs, FansUnite will continue developing technology to provide full turn-key solutions to independent operators looking to launch their own platforms with the opportunity to improve on legacy software, enabling new market potential, and target specific demographics. The turn-key solution will provide operators a customizable sportsbook, event data, odds, resolution, risk-management, KYC (know-your-customer), AML (anti-money-laundering) and a suite of payment options.
"With our full-service-white-label solution we are positioned to improve other sportsbooks through our cutting edge technology. This provides us additional business growth opportunities, globally," continued Darius Eghdami. "With the platform now in beta, we are in a position to begin discussions with established bookmakers, as well as with new operators looking to launch innovative and scalable sportsbooks to improve their user experience."
Mergers and Acquisitions
FansUnite management will continue to have a strong focus on M&A activity within the sports, gaming and entertainment industry. As FansUnite pursues global expansion, the acquisition of technology platforms and companies will be paramount. FansUnite's focus will be on innovative companies in gaming, Esports, social sports betting, and fan engagement with high-growth potential.
"As we successfully build, develop, and grow FansUnite we will look to compliment our existing assets with key acquisitions in the gaming industry to support our future growth and create long-term value for our shareholders," concluded Darius Eghdami.
For further details of the Company and the listing transaction, please refer to the non-offering prospectus of the Company dated March 30, 2020, available on SEDAR at www.sedar.com.
About FansUnite Entertainment Inc.
FansUnite is a sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. The principal business is operating the FansUnite Sportsbook and the website of its wholly-owned subsidiary, McBookie Limited, offering online gaming services to the UK market. FansUnite is also a provider of technology solutions, products and services in the gaming and entertainment industry and looks to acquire technology platforms and assets with high-growth potential in new or developing markets.
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Chief Executive Officer
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 the potential receipt of the V2 Games Interest Payments, the ability of the FansUnite to repurchase its Common Shares in the event of default in the payment of the V2 Games Interest Payments; payments to Generation; and the listing of Common Shares on the CSE. 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. 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.
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