FansUnite
Entertainment Provides Corporate Update
-The first
quarter of 2021 saw a record $28.3M in
betting
volume and a 136% increase in revenue for McBookie compared to the
same period in 2020 as well as other key
developments-
VANCOUVER, British
Columbia, Canada -- April 14, 2021 -- InvestorsHub NewsWire --
FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) ("FansUnite" or the "Company") is
pleased to provide the following corporate update for the first
quarter of 2021.
McBookie's
Exceptional Growth
Betting volume on
the sportsbook and casino for McBookie Ltd. ("McBookie")
increased significantly, setting new
records.
-
McBookie's gross
gaming revenue was $982K CAD, a record for any quarter since
inception and an increase of 136% as compared to the first quarter
of 2020;
-
Gross margins
increased by approximately 138% as compared to the first quarter of
2020; and
-
Total betting
volume on the platform surpassed $28M CAD for the
quarter
At its peak betting
volume during the first quarter of 2021, McBookie had over 1,000
unique customers on the casino alone, as well as 23,000 bets placed
in a single
week on the sportsbook – the highest number of wagers in a week
since its inception in 2009.
Other Key Developments
U.K. Gambling
Licenses Application
FansUnite has
applied for critical U.K. Gambling Licenses which are recognized as
the gold standard for lawful sports
betting and casino operations by gambling authorities worldwide.
The U.K. Gambling Licenses would enable FansUnite to deploy its B2B
Gaming solutions to betting operators and launch B2C wagering
platforms in the leading U.K. online gambling market. The
application is expected to be approved in the second quarter of
2021, subject to FansUnite meeting all applicable
requirements.
Esports
Sportsbook in the U.S.
The previously announced Esports sportsbook with Sky Ute Casino has
undergone its private beta testing phase and is ready to be
launched upon receiving final regulatory approval. The wagering
system of the sportsbook has demonstrated the ability to meet
all
local requirements including remote server installation of
FansUnite's betting engine and player database, geofencing, player
KYC and the successful integration of Sightline
payments.
Askott Games
Integration with The Ear Platform
Askott Games, a
wholly-owned
subsidiary of FansUnite has completed testing on its first four RNG
games and delivered them to The Ear for integration. The Company is
in The Ear development queue and will announce when the
integration is complete and the first games go live.
Now that 4
games have been completed, FansUnite is actively working on
additional aggregator partnerships and is in development of their
5th RNG game.
"The first quarter
of 2021 represents a key inflection point for us as we continue to
hit new milestones," said Scott Burton, CEO of
FansUnite. "We are delighted to announce McBookie's strong
performance as well as the rapid expansion of our B2B operations in
the North American and European market. Obtaining the U.K. gambling
licenses, coupled with the completion of our esports wagering
platform in Colorado and the full integration of Askott Games'
iGaming solutions will allow us to solidify our position as a
leading global online betting company."
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.
For further
information, please contact:
Prit Singh,
Investor Relations at FansUnite
ir@fansunite.com
(905)
510-7636
Scott Burton, Chief
Executive Officer of FansUnite
scott@fansunite.com
Darius Eghdami,
President of FansUnite
darius@fansunite.com
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 any expectation that
exceptional growth at McBookie will continue
quarter
after quarter, whether FansUnite will successfully obtain U.K
Gambling Licenses, the successful integration of the Company's B2B
Gaming solutions with betting operators and launch B2C wagering
platforms in the U.K.; FansUnite's ability to fulfill technology needs with its
platform; business
development plans of FansUnite; the Company's unique
portfolio of assets; and discussion of future plans,
projections,
objectives,
estimates and forecasts and the timing
related thereto. 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 and risks related to global pandemics,
including the
novel coronavirus (COVID-19) global
health pandemic, and the spread of other viruses or
pathogens and influence
of macroeconomic
developments. 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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