FansUnite Entertainment Inc. is a sports and entertainment company, focusing on technology related to regulated and lawful online sports betting and other related products. The principal business is operating the FansUnite Sportsbook and the McBookie website, offering online sports betting to the UK market. FansUnite is also a provider of technology solutions, products and services in the global gaming and entertainment industries and looks to acquire technology platforms and assets with high-growth potential in new or developing markets.
FansUnite is building global infrastructure to connect the world’s gaming platforms through new technology.
Our Behind the Buzz Show Featuring FansUnite
FansUnite is building global infrastructure to connect the world’s gaming platforms through new technology. The Company has provided the following relevant market data.
August 26, 2020 - FansUnite Introduces Gaming Pioneer James Keane to Board of Directors
FansUnite Entertainment Inc. (CSE: FANS) (OTC Pink: FUNFF), (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to introduce James Keane to the Board of Directors.
James Keane is a pioneer in the online gaming space and was a key member of the ParadisePoker.com (“Paradise”) founding team in 2001. James helped grow Paradise into one of the top 3 poker sites in the world and oversaw its acquisition by Sportingbet in 2005. James remained with Sportingbet holding the position of Manager Director for Paradise and subsequently Managing Director, Emerging Markets. After the sale of Sportingbet to William Hill and GVC Holdings, James consulted in both the online and brick and mortar casino world on growth, M&A, and business execution strategies.
James is currently the CEO of King Show Games ULC, which is an experienced, full-service game development and marketing studio. KSG has created market-leading games for land-based, social, and online casinos in Video Slot, Stepper Slot, and Video Poker. KSG has designed over 200 games and has licensed titles being played in countries all over the world.
“We are thrilled to welcome someone of James’s calibre to our team as he brings decades of experience in the gaming industry to the FansUnite Board of Directors,” said Scott Burton, CEO of FansUnite. “In addition to being one of the founding members of Paradise Poker, James has first hand experience in managing small organizations and scaling them to large entities that have created shareholder value through subsequent exits. His wealth of knowledge and experience will be a tremendous asset to our organization as we look to expand our business and grow our global footprint in the coming years.”
“As someone that has been in the gaming industry for the past 20 years, I am an advocate in backing teams that have the opportunity for global scale and mass adoption,” said Keane. “After evaluating this organization, I believe the technology and team that has been put together at FansUnite puts the Company in a position to gain market share in a rapidly growing I-gaming market. The recent acquisition of Askott Entertainment now gives us the asset base to capitalize on multiple betting verticals and I could not be more thrilled to join this board of leading gaming executives.”
James will advise the company in various matters, including M&A, financing, US opportunities, casino and emerging markets.
August 20, 2020 - FansUnite Introduces Nationally-Recognized Gaming Expert Chris Grove to Board of Directors
FansUnite Entertainment Inc. (CSE: FANS) (OTC Pink: FUNFF), (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to introduce Chris Grove to the Board of Directors. Chris is a partner at Eilers & Krejcik Gaming, where he heads the firm’s Sports & Emerging Verticals division.
Grove is a nationally-recognized gambling industry expert focused on market and policy forecasting for the legal U.S. sports betting and online gambling sectors. His insights are regularly cited by lawmakers, analysts, and mainstream media including ESPN, Bloomberg, the New York Times, and the Wall Street Journal. Grove has testified before policymakers in multiple states on sports betting and related issues, including California, Illinois, New York, Nevada, and Washington State.
In addition to his work with Eilers & Krejcik, Grove established himself as a thought leader in the gambling market as the founder of Legal Sports Report and Online Poker Report, both of which were sold in 2017 to Catena Media.
“We are excited to welcome Chris and his vast experience in the global gaming market to the FansUnite Board of Directors”, said Scott Burton, CEO of FansUnite Entertainment. “As a leading expert in the U.S. market, Chris brings a wealth of experience to our Company, as well as partnership, M&A, financing and regulatory opportunities for FansUnite. Chris has been a supporter of the Company for many years now, and we’re fortunate to now solidify the relationship and have him join our board.”
“The explosion of legal online betting in the U.S. is opening an array of opportunities for suppliers like FansUnite that understand the importance of nimble technology, customer-driven brands, and deep integration of esports,” said Grove.
Chris will advise the company in various matters, including US partnerships, regulatory requirements, M&A, financing, and corporate governance.
August 11, 2020 - FansUnite Completes Acquisition of Askott Entertainment
FansUnite Entertainment Inc. (CSE: FANS) (OTC Pink: FUNFF) (“FansUnite” or the “Company”) announces that it has completed its previously announced acquisition of Askott Entertainment Inc. (“Askott”), creating a leader in the Canadian gaming sector (the “Transaction”).
The acquisition of Askott supports FansUnite’s vision to become a leading technology platform that can serve a growing online gaming market. Askott has a rich operating history dating back to 2013 with a focus on creating both B2B and B2C betting products in the rapidly growing esports industry. Most recently, Askott’s B2B Chameleon Gaming platform was shortlisted for the 2020 EGR B2B Awards for Esports Betting Supplier of the Year. With Askott Entertainment being a first mover in the esports sector, FansUnite will now be able to accelerate their trajectory by providing customers with a broader range of betting options that includes sports, esports, casino games and many others.
“With the Askott acquisition now complete, FansUnite is well positioned to become a leader in the global I-gaming market,” said Darius Eghdami, President of FansUnite. “The combined forces of both companies will bring together a portfolio of B2B and B2C assets that are unique, industry leading, and support our goal of growing our global footprint in the fast growing gaming industry.”
“We are pleased to announce the closing of this transaction as it represents one of our biggest milestones to date and allows us to turn our attention to the future,” said Scott Burton, CEO of FansUnite. “Our intention as a company has always been to scale and capture market share quickly. With that in mind we have brought together a world class team of executives and board members that have led some of the largest gaming companies in the world. With their help, we will look to execute on our vision of becoming a leader in the global gaming market.”
Management and Board Transition
- The Board of Directors of FansUnite continues to be composed of five members. Duncan Peter McIntyre, Saxon Tudor Shadforth, and Shafin Diamond Tejani have resigned as directors of FansUnite, and were replaced with Scott Burton, founder and former CEO Askott, James Keane, and Chris Grove.
- Scott Burton, CEO of Askott, has become the CEO of FansUnite and Darius Eghdami has become the President of FansUnite. Jeremy Hutchings, the former CTO of Askott, has become the CTO of FansUnite, Ian Winter, the former COO of Askott, has become the COO of FansUnite and management of FansUnite will otherwise remain the same. Duncan Peter McIntyre has resigned as COO of the Company.
Material Terms of the Transaction
- Existing Askott shareholders received 1.9193 common shares of FansUnite (the “FansUnite Shares”) for each Askott common share (an “Askott Share”) held at closing (the “Exchange Ratio”), representing an implied valuation of C$0.7485 per Askott Share, and resulting in the issuance of an aggregate of 71,171,212 FansUnite Shares at a price of C$0.39 per FansUnite Share to the former Askott shareholders. In addition, former holders of 125,000 common share purchase warrants of Askott are now entitled to purchase an aggregate of up to 239,912 FansUnite Shares at an exercise price of approximately C$0.32 per FansUnite Share with expiry date on May 31, 2023 (the “FansUnite Warrants”) and former holders of 1,820,000 stock options of Askott are now entitled to purchase an aggregate of up to 3,493,122 FansUnite Shares at exercise prices ranging from approximately C$0.26 to C$0.32 per FansUnite Share, with expiry dates between September 27, 2020 and January 1, 2025 (the “FansUnite Options”).
- FansUnite has issued an aggregate of 12,712,115 FansUnite Shares at a price of C$0.40 per FansUnite Share upon exchange of the Askott Shares issued in connection with the previously announced private placement of subscription receipts (the “Subscription Receipts”) for C$5,009,846 (the “Askott Private Placement”). In addition, the former holders of Subscription Receipts are now entitled to purchase an aggregate of up to 6,262,307 FansUnite Shares at an exercise price of C$0.55 per FansUnite Share with expiry date on August 11, 2022 pursuant to the share purchase warrants issued in connection with the Askott Private Placement and the former holders of the broker and advisory warrants issued in connection with the Askott Private Placement are now entitled to purchase an aggregate of up to 779,762 FansUnite Shares at an exercise price of C$0.55, with expiry date on July 21, 2022 (collectively, the “FansUnite Financing Warrants”).
- A total of $4,514,585.94 from the Askott Private Placement has now been released from escrow.
- FansUnite has issued 758,600 FansUnite Shares at a price of C$0.39 per share to Haywood Securities Inc. in connection with the previously announced assumption by FansUnite of Askott’s obligations to Haywood for advisory services related to the Transaction (the “M&A Advisory Shares”).
- Upon completion of the Transaction, there are 154,345,706 FansUnite Shares issued and outstanding…
August 6, 2020 - FansUnite Acquisition Target, Askott Entertainment Announces Agreement To Fully Integrate over 6,000 Casino Games Onto Platform
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 acquisition target Askott Entertainment Inc. (“Askott”) has reached an agreement with The Ear Platform to integrate their Casino Aggregator hub onto Askott’s Chameleon Gaming Platform.
The Askott Chameleon Gaming Platform was recently shortlisted for EGR Esports Provider of the Year Award. Until now, the platform served as a tool for Askott partners to launch their very own esports betting platforms. The B2B Chameleon Platform will now offer partners additional revenue streams through The Ear’s Casino Aggregator hub by giving them access to over 6,000 casino games through a single integration. This will enhance Askott partners’ offering and more importantly provide bettors with more entertainment options to choose from.
“As a leading provider of B2B betting solutions in the esports market, we are pleased to announce this integration with The Ear Platform which will serve as an additional revenue stream for our partners and a highly scalable channel partner for us,” said Scott Burton, CEO of Askott Entertainment. “With the addition of 6,000 casino games, our partners are now in a position to provide additional betting options for their customers while providing a larger product offering to increase customer retention and the lifetime value of each unique user.”
“By plugging in our aggregator hub with an esports focused betting platform we have opened up an additional channel to distribute thousands of casino games to a growing and new demographic,” said Andrei Siomela, Commercial Director, The Ear Platform. “We look forward to developing this partnership with Askott and engaging their customers further with the addition of new betting options.”
July 29, 2020 - McBookie Ltd Welcomes Back Scottish Football
FansUnite Entertainment Inc. (CSE: FANS) (“FansUnite” or the “Company”) subsidiary McBookie Ltd (“McBookie”), a technology company providing leading online gambling solutions, is preparing to welcome back Scottish football for the first time in five months. The 2020/21 Scottish Premiership season is set to start on Saturday, August 1, 2020.
The new season kicks off this weekend with six games played over Saturday, Sunday, and Monday. Fans will be able to watch this weekend’s best matches, and more fixtures than ever before through Sky Sports exclusive deal to televise 48 Premiership games this season.
“We are excited to welcome back Scottish football, as it represents the largest betting volume per single sport on our platform,” said Paul Petrie, McBookie founder and Director. “During the 2019 season, McBookie saw the Scottish Premiership produce $567k CAD of betting volume, representing approximately 13% of the total $4.42M CAD in betting that was placed in the football category of the platform.”
With the Scottish football season being cut short in 2019 due to the COVID-19 pandemic, McBookie customers were still able to enjoy betting on alternative sports such as the English Premier League.
“It has been a long five months without football in this country and we’re excited for the first ball to be kicked,” continued Paul Petrie. “Our customers have enjoyed betting on the English Premier League, but nothing really beats betting on football from your own country. After a strong month with the completion of the English Premier League, the new Scottish Premiership season gives McBookie the opportunity to start the journey on their home turf and watch the business achieve new heights.”
“As a versatile betting platform, McBookie has once again showcased they are able to provide a diverse set of betting solutions to a growing customer base in any market environment,” commented Darius Eghdami, CEO and Chairman of FansUnite Entertainment. “When we purchased McBookie earlier this year, our goal was to provide the team with the resources needed to drive customer registration numbers. With one of their most popular sports returning to market, we are excited to see how the company can scale in 2020 and future years.”
McBookie is also launching a revamped loyalty program in conjunction with the start of the 2020 Scottish Premiership season, and has introduced the Tartan Club to reward regular customers with free bets, enhanced odds, and enhanced prices.
The platform will also continue its sponsorship of the Daily Record’s Mr Fixit column and Jim Delahunt’s column in the Scottish Sun, the most impactful gambling coverage in the country’s two biggest national newspapers.
July 27, 2020 - FansUnite Acquisition Target, Askott Entertainment Announces Completion of its Second Casino Style Game
FansUnite Entertainment Inc. (CSE: FANS) (OTC Pink: FUNFF), (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to announce acquisition target Askott Entertainment Inc. (“Askott”) has completed its second video game themed casino game ‘Crash Heist’. After the successful launch of ‘Loothunter’, Askott is ready to offer its second game in what will be a series of video game and esports themed casino games for online sportsbooks and casinos to offer.
RNG/casino games represent a large piece of the online real money gaming industry. Many sportsbooks offer casino games and with the recent COVID-19 pandemic, the importance of having such games has been magnified. Askott is developing games that will appeal to a broader target market that includes a growing younger demographic along with traditional gamers.
“We currently offer a betting solution for esports books and wanted to add RNG casino games to round out our partners’ betting offering to their customers,” said Scott Burton, CEO of Askott Entertainment. “These additional offerings will result in more engagement from bettors and higher retention on our platforms. Without the need for live esports events, these games can be played 24/7 by our players allowing for more consistent betting and predictable revenue.”
“As a leading developer of casino style games, we have now developed two games that can be leveraged on various platforms. Our partners will now be able to access our full suite of games, and other operators can license these games as stand alone products for their customers.”…
July 16, 2020 - FansUnite Acquisition Target Askott Entertainment Nominated for Esports Betting Supplier Award
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 its acquisition target Askott Entertainment Inc. (“Askott”) has been shortlisted for the 2020 EGR B2B Awards Betting Supplier of the Year award.
The EGR B2B Awards reward and celebrate the very best service providers in the online gaming industry, recognising the achievements of suppliers from across all the major egaming disciplines including betting and gaming software, mobile, payments, recruitment, IT and infrastructure.
“We are very excited to be nominated again for an EGR Award,” said Scott Burton, CEO of Askott Entertainment. “Previously we received an award as a leading operator and to be recognised again on the supplier side is not only a great honour but a testament to our technology and platform. The companies that we are shortlisted with are the best in the business and represent leaders in the global esports market.”
Darius Eghdami, CEO of FansUnite Entertainment added, “This is a great milestone and achievement for Scott and the Askott team. It further validates the strength of Askott’s technology and the opportunity the team has on the B2B arm of the business. We are excited for the combined entity to continue it’s path to becoming a full suite igaming platform provider for sports betting, esports and casino betting.”
The full listing of companies nominated can be viewed here: https://www.egrb2bawardsvirtual.com/page/1555662/shortlist-
The winners will be announced at EGR’s virtual awards ceremony on July 21, 2020.
July 13, 2020 - FansUnite Entertainment Inc. Subsidiary McBookie Ltd Shows Strong Betting Growth During Pandemic
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.”
June 23, 2020 - FansUnite to Acquire Askott Entertainment
FansUnite Entertainment Inc. (CSE: FANS) (“FansUnite” or the “Company”) and Askott Entertainment Inc. (“Askott”), have entered into a definitive amalgamation agreement on June 22, 2020 (the “Agreement”) to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering and casino games. Under the terms of the Agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation (the “Transaction”) pursuant to which Askott and a newly incorporated subsidiary of FansUnite will amalgamate under the Business Corporations Act (British Columbia) and continue as one corporation.
Combined Company Highlights
Expanded Consumer Base. The combined FansUnite and Askott will have four live business-to-consumer (“B2C”) platforms that have generated over CDN$350 million in wagers since inception and will have over 300,000 registered members;
Expanded Business Base. FansUnite and Askott will have four executed business-to-business (“B2B”) contracts, two of which are currently live and generating revenue with leading esports companies;
Expanded Betting Offerings. Two esports themed casino games which will be released on multiple casino games aggregators platforms this year with more games currently in development;
Increased Gaming Licenses: Applications have been completed for gaming licenses for both B2C and B2B;
Established History of Operations: Askott has been in business since 2013, working closely with tier 1 partners around the world; and
Highly Accomplished and Experienced Team: The completion of the Transaction will add a team with decades of experience in esports, sports betting, casino, poker, licensing, government relationships and transactions to develop shareholder value.
According to a recent report by Grandview Research1, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
“As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada’s premier iGaming companies,” said Darius Eghdami, CEO of FansUnite Entertainment. “Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online iGaming company, and positions us strongly for significant growth with new offerings and market opportunities.”
“We are recognized globally as a leader and pioneer in esports betting technology,” said Scott Burton, CEO of Askott Entertainment. “As an early entrant in the sector we have already had a number of milestones, including the launch of the first ever daily fantasy site dedicated to esports, the first esports betting site to receive an Isle of Man license gaming license in 2017 and more recently being shortlisted by EGR Magazine for the Esports Betting Supplier of the Year Award. This year, part of our growth strategy was to round out our offering with traditional sports and casinos to make us a complete iGaming solution. Merging with FansUnite accelerates our growth strategy and will bring us the scale and offerings to make our combined group the leading iGaming entity in the Canadian public markets.”
June 11, 2020 - Former PaddyPower Betfair President Joins FansUnite Entertainment
FansUnite Entertainment Inc. (CSE: FANS) (“FansUnite” or the “Company”), a technology company providing leading online gaming solutions, is pleased to introduce Mr. Harish Narayanan Ramachandran, an experienced gaming executive as a member of the board.
Most recently, Harish spent 4 years at PaddyPower Betfair, one of the world’s largest gaming companies1, as president of their Asia business. He was tasked with expanding their global operations through B2B partnerships with regulated and state owned operators in Asia, establishing government relationships, and attracting licensed B2C operators. As a specialist in strategic M&A, he structured, advised, and facilitated the global strategy and direction on numerous transactions in the online gaming market.
Prior to this, Harish held senior management positions at EdgeMatrix in Singapore, Com2us Corporation in South Korea, Nokia in APAC, Cryptologic in Asia-Pacific and Paddy Power Betfair in Dublin, Ireland.
“Mr. Ramachandran brings a wealth of experience to our board of directors having assisted one of the worlds largest betting operations enter and scale their international expansion in Asia,” said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. “As we look to enter new markets, Mr. Ramachandran brings decades of experience in global market expansion along with extensive knowledge leading strategic mergers and acquisitions that our team will utilize as we prepare for our international growth strategy.”
“As a member of the board, It’s an honour to be advising the innovative team where my experience within the global gaming market can be utilized to support FansUnite,” said Harish. “FansUnite has developed strong betting technology and is quickly gaining global recognition through their recent successful M&A transaction with McBookie. I look forward to providing my knowledge and expertise to assist in the growth of FansUnite.”
Harish will advise the company in various matters, including: international mergers and acquisitions strategy, government relations, and establishing and executing on new market expansion and partnership opportunities.
June 6, 2020 - Global Gaming Veteran Saxon Shadforth Joins FansUnite Entertainment
FansUnite Entertainment Inc. (CSE: FANS) (“FansUnite” or the “Company”), an entertainment technology company providing leading online gambling solutions, is pleased to introduce Mr. Saxon Shadforth, a leading gaming executive.
Mr. Shadforth has over 25 years of global leadership expertise and 15 years experience as an online gambling executive. With a background in commercialization, consumer hardware/software, enterprise software, product strategy and delivery; Saxon has extensive experience managing complex ecosystems required to operate and scale gaming brands in many categories and jurisdictions. Saxon has previously worked at Activo in Montevideo, Uruguay, Yew Tree Services in Manila, Philippines, Riplife Gaming Technologies in Barcelona, Spain and Gateway Inc. in both Sydney, Australia and Denver, Colorado.
“We are extremely excited to have an individual of Saxon’s caliber join our board of directors,” said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. “As a fast growing company in the gaming sector, Mr. Shadforth is perfectly equipped to provide us with oversight in a number of growth areas. Having spent the majority of his career working abroad in North America, Europe, Asia and Latin America, Saxon will be integral in expanding our footprint and entering international gaming jurisdictions by leveraging his established network.”
As a veteran in the gaming industry, he has structured and advised on the launch of new platforms across the globe, numerous M&A transactions in both start ups and later stage growth companies, and has managed teams of over 300 people in the gaming industry.
“I am thrilled to be joining such a great team where I will be able to apply my skill set in helping FansUnite build and grow their platform,” said Saxon. “As a online gambling company, FansUnite is uniquely positioned to consolidate gaming assets globally with a key focus on M&A integration and brand awareness. I am eager to provide my insights and I look forward to assisting FansUnite become a leader in the fast growing gaming market.”
FansUnite expects Mr. Shadforth to add expertise in various areas including: product development, acquisition strategy, and commercialization of brands into global markets to support its continued growth as an emerging gaming leader.
May 20, 2020 - FansUnite Entertainment Inc. Introduces McBookie Ltd Acquisition
FansUnite Entertainment Inc. (CSE: FANS) (“FansUnite” or the “Company”) is pleased to introduce the acquisition of McBookie Ltd., a leading provider of regulated betting services in the United Kingdom. The recent acquisition of McBookie provides a strong foundation for the future of FansUnite as the Company continues to look to consolidate assets in leading regulated gaming jurisdictions such as the U.K.
McBookie has been operating in the UK market since 2009 and provides its customers with sports betting, casino and virtual sports offerings. Currently, the company highlights approximately 10,000 active members and has handled a total of $340M CAD in betting since inception. In the last three years alone, McBookie has taken over $135M CAD in betting volume onto their platform. In the current climate, the casino and virtual offerings have continued to grow as new players are signing up to the McBookie platform to take advantage of online offerings.
“We have always believed in the huge potential of the McBookie brand and our most recent investment will allow us to provide this asset with the necessary resources to become a leader in the UK market,” said Darius Eghdami, Chairman and CEO of FansUnite Entertainment “Remarkably, McBookie has been able to build their brand and customer base through mostly organic channels. Paul Petrie and Damian Walker are excellent operators and with our team, we will now be able to assist them in continuing to grow their membership base and increasing their betting volume.”
“These are exciting times ahead and we look forward to working with the FansUnite team to continue to grow the McBookie platform throughout the UK,” said Paul Petrie, founder and Director of McBookie.
“With little or no sport for customers to bet on since the middle of March, we have been extremely encouraged by the strong performance of the casino and virtuals,” continued Damian Walker, founder and Director of McBookie, “With leagues such as the German Bundesliga already returning this past weekend, we would expect these numbers to continue to grow once customers return to the site as sports continue to come back.”
The net revenue for gambling in Great Britain increased from roughly 8.4 billion British pounds in 2011 to approximately 14.4 billion British pounds in 2018.1
May 11, 2020 - FansUnite Entertainment Inc. Provides Corporate Strategy Outlook for 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.
May 5, 2020 - FansUnite Entertainment Inc. Begins Trading on the Canadian Securities Exchange Under Ticker Symbol "FANS"
FansUnite Entertainment Inc, (CSE: FANS) (“FansUnite” or the “Company”) a sports and entertainment company, is pleased to announce that it will begin trading on the Canadian Securities Exchange (“CSE“) under ticker symbol “FANS”, commencing on May 5, 2020.
The Company recently completed a subscription receipt offering on March 18, 2020. Under the terms of the financing, FansUnite issued 8,948,326 common shares at $0.35 for a total of $3,131,918. Further, on March 26, 2020, the Company successfully completed its acquisition of McBookie Ltd, a leading UK White-label sportsbook and casino that caters to the Scottish Market.
“Today marks a major milestone for FansUnite as we begin trading on the Canadian Securities Exchange,” said Darius Eghdami, Chairman and CEO of FansUnite. “In preparation to scale our business, we have assembled an experienced team with strong industry expertise, invested in new and innovative technology while completing our first acquisition of McBookie. With our public listing completed, we look forward to executing on our company vision through both organic and acquisitive growth.”
The Company has 69,579,459 shares outstanding and 4,893,439 shares reserved for issuance.
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.
For Full Release : https://www.newsfilecorp.com/release/55383