wealth_bakery

FANS.C - eSports/Gambling Growth Story

Long
CSE:FANS   FANSUNITE ENTERTAINMENT INC
FANS.C is in the right sector during the pandemic and has seen massive growth in the past few months. The stock is temporarily range bound due to the still open $5M financing announced last month. .42 - .45 is proving to be strong support zone . RSI briefly hit oversold area on the hourly today. The company plans strong promotional push following the closing of financing that could come any day.
Comment: FansUnite Entertainment Inc. Subsidiary McBookie Ltd Shows Strong Betting Growth During Pandemic

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2020) - 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."
Comment: FansUnite Acquisition Target Askott Entertainment Nominated for Esports Betting Supplier Award

Vancouver, British Columbia--(Newsfile Corp. - July 16, 2020) - 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 winners will be announced at EGR's virtual awards ceremony on July 21, 2020.
Trade closed: stop reached

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