FansUnite Entertainment Inc. Subsidiary McBookie Ltd Shows Strong Betting Growth During Pandemic
U.K. based operator sees Q2 Casino betting volume increase 59% Year over Year as well as strong sportsbook growth
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2020) - FansUnite Entertainment Inc. (CSE: FANS) (OTC Pink: FUNFF) ("FansUnite" or the "Company"), a technology company providing leading online gaming solutions, is pleased to announce that their acquisition of McBookie Ltd ("McBookie") has emerged from the Coronavirus Pandemic with a strong set of results.
The Scottish-based sportsbook operator was purchased by FansUnite in March, 2020, and has delivered a Year over Year ("YOY") increase in Gross Gaming Revenue over the Q2 period of 131%. The majority of that has been delivered by the casino where YOY turnover in Q2 was up 59% from $2.4M CAD to $3.9M CAD, resulting in a gross margin increase of 191%.
"Since acquiring McBookie we have been consistently impressed with their ability to navigate uncertain environments and the global pandemic this past few months has been no exception," said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. "During Q2, the team showed an impressive 59% increase in casino betting. Further, the launch of a virtual sports offering in March was timely, delivering turnover in excess of $500,000 CAD and, together with the strong performance of the casino, has compensated for the lack of betting opportunities for customers in traditional sports."
With the return of some sports such as the English Premier League, McBookie also grew sportsbook turnover in June by 45% YOY.
Eghdami added, "Perhaps the most pleasing aspect of the figures was the way the sportsbook bounced back in June. McBookie is now in a very good position to deliver strong growth once the full complement of sports return in the fall."
McBookie founder and Director Paul Petrie stated, "We have used the period of the pandemic to work closely with the FansUnite team to improve our operational and marketing techniques and are now in a really good place to drive the business forward when the Scottish football season is set to return on August 1st."
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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