Global Daily Fantasy Sports Inc. (TSX-V: DFS)
VANCOUVER, May 26, 2017 /CNW/ - Global Daily Fantasy Sports
Inc, ("Global" or the "Company") is pleased to announce that it has
purchased Mondogoal Limited's ("Mondogoal") operating assets
consisting of intellectual property, trademarks and client
contracts (the 'Purchased Assets') for its Daily Fantasy Sports B2B
operations in Italy.
Mondogoal is a leader in daily fantasy sports in Italy.1 Mondogoal's blue chip
client base includes Lottomatica Scommesse S.r.l. (Lottomatica) and
Sisal Entertainment S.p.a. (Sisal) two of the largest gaming brands
in Italy. Global is also pleased
to announce as part of the transaction it has secured new
agreements with both Italian operators for an additional two-year
term. These new agreements will strengthen Global's distribution
network, as both Lottomatica and Sisal in 2016 represented
14%2 of the Italian online sports betting market.
Lottomatica is the market leader in the Italian gaming industry
with a network of about 100,000 points of sale, distributing games
and services through one of the world's largest network of
connections. Through its parent company, International Game
Technology PLC (IGT), has a presence in more than 100 countries.
IGT trades publicly on the New York Stock Exchange and is the
world's largest end-to-end gaming company, with leading market
positions in North America and
Italy and the most extensive
gaming content library in the world. 3
Sisal has been in business more than 70 years and has more than
14 million customers in Italy. Sisal operates in the gaming
and betting market with a full spectrum of products in retail and
online channels. Sisal has a network of more than 45,000 points of
sale.
"We are pleased to go on in our journey in the DFS segment
together with Global – says Ignazio di
Lauro, Sisal Head of Sportsbook -. Thanks to its innovative
platform, FantaMister will benefit and strengthen its position in
this market segment. The first year has been very challenging and,
at the same time, important for us in order to understand
customers' needs and behavior. We believe in the growth of the DFS
sector in Italy and Sisal has to
be ready to reach this opportunity. With Lottomatica, we built the
largest DFS network in Italy and
our objective is to keep growing together".
Pursuant to an asset purchase agreement dated as of May 11, 2017, the consideration for the purchased
assets consists of a combination of a small cash payment plus
common shares of Global having a value equal to net gaming revenues
from the purchased assets over the next three years. For
purposes of this calculation, the Company's shares will be valued
using a 30 day VWAP immediately prior to the applicable earnout
period. All share issuances are subject to prior TSXV
approval.
"The acquisition of the Mondogoal operating assets and new
agreements with Lottomatica and Sisal position us well to grow our
business in one of our key European markets" states Darcy Krogh CEO
of Global Daily Fantasy Sports. "Italy is one of the largest online gaming
markets in Europe and one of the
first to establish itself in the daily fantasy space. This is a
strategic investment for Global and we look forward to working with
Lottomatica and Sisal to build out a strong network in Italy with our innovative platform."
Sources: 1 PR Newswire, January 2016. 2 iGaming Business,
April 2017.
3 International Game Technology PLC. Form 20-F for
the fiscal year ended December 31,
2016.
About Global Daily Fantasy Sports Inc.
Global Daily Fantasy Sports Inc. (TSX-V: DFS) is a multi-tenant
gateway that allows operators to offer their customers a world
class Daily Fantasy Sports software solution. The platform allows
for seamless integration at the operator level without having to
share or compromise any sensitive customer data. Joining the
Company's network allows operators to capitalize on a mature
infrastructure, with shared liquidity, that was built specifically
for regulated market environments. As the first true B2B global
network, the Company is a SaaS product that offers a turn- key
solution for sportsbook operators, land-based operators, media
groups, and big database companies to participate in the daily
fantasy sports industry.
Global Daily Fantasy Sports Inc.
Per: "Darcy
Krogh"
Darcy Krogh, President and
CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Global Daily Fantasy Sports Inc.
