i3 Explains Rationale for Choosing India as Launching Pad for International Expansion
Toronto, Ontario--(Newsfile Corp. - February 11, 2021) - i3 Interactive Inc. (CSE: BETS) (OTC Pink: BLITF) (FSE: F0O3) ("i3" or the "Company") - With India clearly becoming one of, if not the fastest growing online gaming market in the world, i3 is doubling down on its investment into this market. With a growing population, especially the middle class, a burgeoning economy, the fastest internet adoption in the world, and with 65% of the population under the age of 35, India is a perfect storm for skill based online gaming.
The Company's vision for India took shape after years exploring the market. Based on its assessment, it is still a time of very early adoption for investment in online gaming in India. i3's management team collectively has over a hundred years of online gaming experience and the last 5 years has been spent specifically planning and launching into India. Having noticed the parallels to markets like the USA, where fantasy gaming has grown into the regulated posture seen now on a state by state basis, dominated primarily by companies like DraftKings and FanDuel, it is hard to not imagine the possibilities of a market with the sheer size and scope of India following the same path. Trailblazers in India like Dream11 and others have been paving the way and i3 is building on this momentum in arguably the world's best online gaming market for operators currently.
Since i3's launch of BLITZPOKER in India just over six months ago, i3 has learned from its players and partners that they are presenting something unique and exciting to the market. With the launch of BLITZPOKER, i3 partnered with celebrities and influencers with the support of over 150 million followers in India. The response has been clear and the continued growth has been nothing short of incredible.
i3's entry into India was via an acquisition of a poker operation on the Quadnet Network, a market leading poker network most famous to date for housing the Spartan Poker brand. This partnership provides a market leading product and over a million registrations and with i3's strategy and brand position with BLITZPOKER there is a high level of confidence in the Company's offering, which is unique to the Indian gaming community.
The launch of poker was the tip of the spear now leading to further development of an ecosystem that will ultimately consist of skill-based games such as poker, fantasy sports, rummy, chess, quiz games, esports and more.
Immediately following on the success of BLITZPOKER, i3 has taken the next step in building this ecosystem and invested in the fantasy gaming company Livepools. With a 7-figure user base, tier one management team and exciting growth potential, i3 is very confident in this addition to the portfolio. Especially with IPL around the corner and some exciting news to unveil shortly, i3 has grand plans for the market.
ABOUT I3 INTERACTIVE INC.
The Company is in the business of providing customers with an online and mobile gaming platform which will provide sports fans worldwide with a unique and highly engaging social gaming product, and sports betting and casino product offering. In an effort to break into the various emerging global markets, i3 has secured partnerships with key social media influencers.
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This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. The forward-looking statements in this press release include statements relating to the projections for growth in the Indian online gaming market, the successful acquisition of BLITZPOKER and the timing of its acquisition, regulatory approval of the acquisition, the projections for growth in BLITZPOKER's profit and popularity and further development of the Company's presence and operations in India. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation, (i) the costs of compliance with and the risk of liability imposed under the laws of the jurisdictions in which the Company is operating or will operate (the "Operating Jurisdictions") including gambling laws and regulations, sports betting laws and regulations and mobile or online gambling and sports betting laws and regulations, (ii) negative changes in the political environment or in the regulation of mobile and online sports betting or gambling and the Company's business in the Operating Jurisdictions, (iii) risks relating to COVID-19 (iv) negative shifts in public opinion and perception of the gambling industry, (v) significant competition in the industry, (vi) risks of product liability and other safety-related liability as a result of usage of the Company's planned gambling and betting products, (vii) loss of intellectual property rights or protections, (viii) cybersecurity risks, (ix) constraints on marketing products,(x) fraudulent activity by employees, and (xi) risk of litigation. Readers are 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. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that , (i) the Company's financial condition and development plans do not change as a result of unforeseen events, (ii) there will continue to be a demand, and market opportunity, for the Company's product offerings, (iii) that gambling regulations in the Operating Jurisdictions will not be changed in a manner that will negatively impact the Company (iv) the Company will be able to establish, preserve and develop its brand, and attract and retain required personnel, and (v) current and future economic conditions will neither affect the business and operations of the Company nor the Company's ability to capitalize on anticipated business opportunities) although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company's future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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