Breaking News: FansUnite Reports Fourth Quarter and Full Year 2021 Financial Results and Announces Intention to Commence Normal Course Issuer Bid | Financial Buzz

Breaking News: FansUnite Reports Fourth Quarter and Full Year 2021 Financial Results and Announces Intention to Commence Normal Course Issuer Bid

  • Full year 2021 revenue of C$5.60 million (2020: C$1.55 million), an increase of 260% over full year 2020
  • Fourth quarter 2021 revenue of C$2.98 million (2020: C$0.76 million), an increase of 294% over fourth quarter 2020
  • Full year 2021 unaudited consolidated revenue of C$22.3 million, inclusive of full year revenue generated from the recently acquired American Affiliate
  • Continued growth into Q1 2022 with over $9.0 million of unaudited revenue

FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) (“FansUnite” or the “Company”) reported financial results for the fourth quarter and full year ended December 31, 2021.

Full Year and Fourth Quarter 2021 Financial Highlights:

  • Total revenue of C$5.60 million in full year 2021, as compared to C$1.56 million in full year 2020, an increase of 260%;
  • Total revenue of C$2.98 million in the fourth quarter of 2021, as compared to C$0.76 million in the fourth quarter of 2020, an increase of 294%;
  • Net loss for the year of C$17.0 million which includes non-cash expenses of C$7.59 million, as compared to C$13.5 million in full year 2020, which included non-cash expenses of C$9.10 million;
  • The Company ended the quarter with cash and cash equivalents of C$13.97 million, as compared to C$4.43 million in 2020, an increase of 215% from the same period last year.

Full Year 2021 Operational Highlights:

  • Completed two oversubscribed brokered financings for approximately $38.0 million in order to expand operations and pursue M&A opportunities;
  • Signed new white-label partner Money Line Sports Inc. for the Chameleon gaming platform;
  • The Company listed on the OTCQX, the highest-tier of OTC markets;
  • Received both B2C and B2B licenses from the UK Gambling Commission, enabling the Company to operate as a technology provider and an operator in the UK online gambling market;
  • Continued to expand the leadership team with the appointment of industry veterans Anna Smith as Head of Compliance, Michael Lee as VP of Gaming, Chris Grove as CEO of American Affiliate, Sean Hurley as VP of Strategy of American Affiliate, Pearl Gallagher as CLO of American Affiliate, Denis Williams as Head of Payments, Jai Maw as President of Betting Hero, and Jeremy Jakary as SVP of Strategy of Betting Hero;
  • Signed multiple data provider partnerships for the Chameleon iGaming Platform including Pariplay, SportsIQ, Pythia and Algosport to further enhance the platforms capabilities;
  • Shortlisted for numerous awards throughout the year such as ‘Full-Service Platform Provider’, ‘Sportsbook Platform Provider’ and ‘Rising-Star’;
  • Appointed KPMG LLP (“KPMG”) as the Company’s auditor;
  • Completed the acquisition of American Affiliate, a leading omni-channel affiliate company focused on customer acquisition in the regulated US market.

“Our annual figures illustrate that FansUnite’s global gaming strategy continues to be a success and represents a major step forward for the Company,” said Scott Burton, CEO of FansUnite. “In 2021, our focus was on laying operational foundations and ensuring we secured the right amount of capital to not only grow our revenue and operations, but also to see us through any market downturns. The additional capital allowed us to complete our third and largest acquisition of American Affiliate, which has outperformed our expectations since finalizing the deal at the end of 2021. In 2022, FansUnite intends to secure more B2B deals, both for our Chameleon iGaming platform and our RNG casino games, while expanding our footprint in the US affiliate market. We are very excited to build on this success with a focus on continued revenue growth, international and domestic expansion, and execution.”

First Quarter 2022 Unaudited Financial Highlights & Subsequent Events:

  • The Company continued its momentum in the first quarter of 2022 with unaudited revenue figures of over $9.0 million;
  • Granted license to become a fully registered gaming related supplier in Ontario;
  • American Affiliate entered Louisiana’s online sports betting market;
  • American Affiliate was approved for customer acquisition services in Maryland’s sports betting market;
  • The Company was shortlisted for five 2022 EGR North America Awards;
  • Signed a MOU with Welsh bookmaker Dragon Bet.

The Company’s consolidated financial statements for the year ending December 31, 2021 along with its MD&A are available under the Company’s profile on SEDAR at

Normal Course Issuer Bid

FansUnite intends to file with the Canadian Securities Exchange (“CSE”) a notice of intention to commence a normal course issuer bid (“NCIB”) for its common shares (“Shares”). If accepted by the CSE, the Company would be permitted under the NCIB to purchase for cancellation, through the facilities of the CSE and all available Canadian markets and alternative trading platforms, up to 5% of the issued and outstanding Shares for a period of 12 months after the NCIB commences. The exact amount of Shares subject to the NCIB will be determined on the date of acceptance of the notice of intention by the CSE.

All Shares purchased by the Company under the NCIB will be purchased at prevailing market prices in accordance with the rules and policies of the CSE and applicable securities laws. The actual number of Shares that may be purchased, and the timing of any such purchases, will be determined by the Company, subject to the applicable terms and limitations of the NCIB (including any automatic share purchase plan adopted in connection therewith). All Shares acquired by the Company under the NCIB will be canceled.

Although the Company has a present intention to acquire Shares pursuant to the NCIB, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time. The Company reserves the right to terminate the NCIB earlier if it feels it is appropriate to do so.

In connection with the NCIB, the Company intends to enter into an automatic share purchase plan with its designated broker to allow for purchases of its Shares during certain predetermined black-out periods, subject to parameters as to price and number of Shares. Outside of these predetermined black-out periods, Shares will be purchased in accordance with management’s discretion, subject to applicable law.

The Company proposes to commence the NCIB because it believes that the market price of the Shares may not, from time to time, fully reflect their value and accordingly, the purchase of the Shares would be in the best interest of the Company and an attractive and appropriate use of available funds.

About FansUnite Entertainment Inc.

FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming. FansUnite’s one-of-a-kind iGaming platform Chameleon offers operators a full suite of gaming solutions with a sports and esports focus geared for the next generation of online bettors and casino players. Along with providing B2B technology solutions, FansUnite operates multiple B2C brands, such as Scottish sportsbook McBookie and Brazilian esportsbook VamosGG, and produces casino style slot games under its Askott Games subsidiary. FansUnite is the parent company of North American-focused American Affiliate, which operates leading affiliate brands such as Betting and BetPrep.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For fansunite entertainment inc. investor relations, video production, filming editing, news reporting, financial and corporate news dissemination, has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: