Vancouver, British Columbia, January 13, 2022 – FansUnite Entertainment Inc. (CSE: FANS) (OTCQX: FUNFF) (“FansUnite” or the “Company”), is pleased to announce that American Affiliate (“AmAff”) has demonstrated strong sales growth and operational performance since FansUnite’s acquisition that was announced on November 23, 2021.
Since November 23, 2021, American Affiliate has generated more than $3.4 million CAD in unaudited revenue, while operating at over 30% gross margins, and has registered more than 16,000 new depositing customers for leading partner brands such as BetMGM, WynnBet, Caesars, FanDuel and DraftKings.
“American Affiliate’s performance continues to exceed our expectations,” said Chris Grove, Chief Executive Officer of American Affiliate. “Our growth continues to be powered by our unique strategy of focusing exclusively on the U.S. market with a brand-driven, tech-based portfolio of assets that are able to access potential gamblers across multiple digital and retail channels.”
“The first quarter of 2022 is likely to be the biggest so far for the U.S. online sports betting and casino industry,” continued Grove. “The introduction of new markets like New York, the continued growth of existing markets, and the tentpole events for professional football and college basketball will all combine to create unprecedented levels of consumer interest and online gambling revenue.”
Overview of American Affiliate’s Marquee Brands
- Betting Hero – The #1 live activation network in sports betting, Betting Hero helps people enjoy their experience betting on mobile, providing consumers with the smoothest possible experience as they register, fund, and bet. Betting Heroes are a prominent presence at dozens of casinos, sports bars and live sporting events across the country each and every week.
- BetPrep – A game-changing software that saves sports bettors the effort of collecting data, calculating useful statistics and finding what conditions lead to profitable betting opportunities, BetPrep allows bettors and sharps to test their own strategies on over 10 years of historical sports data and odds.
- Props.com – Providing wall-to-wall coverage of the news, insights, analysis, and trends through entertaining and actionable content, Props.com is a leading hub for the ever-growing population of U.S. sports bettors.
- Wagers.com – The authority at the intersection of sports, gambling, finance and technology, Wagers.com covers industry developments, breaking news and offers expert insight and analysis in an accessible approach.
American Affiliate currently has regulatory approval to operate in 10 states: Arizona, Colorado, Indiana, Louisiana, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia, and is authorized to provide marketing services for licensed sports betting operators in Massachusetts, New York, and Nevada. Additionally, AmAff is poised to apply for regulatory approval in any other states that legalize sports betting.
“American Affiliate’s multi-state operation enables FansUnite to increase our reach to different regulated betting markets across the United States,” said Scott Burton, CEO of FansUnite. “To be able to achieve these figures within a short, six-week span that included both American Thanksgiving and Christmas is a testament to their ability to connect with consumers and bodes well for FansUnite to continue its positive momentum in 2022.”
About FansUnite Entertainment Inc.
FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. FansUnite has produced a one-of-a-kind complete iGaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. The platform operates multiple B2C brands and B2B software for the online gambling industry. FansUnite also looks to acquire technology platforms and assets with high growth potential in new or developing markets. The Company also provides technological solutions and services in the global gaming and entertainment industries. Its technology includes fixed/parimutuel odds, in-stream betting, live betting, casino-style games, cryptocurrency wallet and news content.
About American Affiliate
American Affiliate is a U.S. pure play affiliate company focused on generating new depositing customers for online sportsbooks, casinos, daily fantasy and poker platforms. American Affiliate is the only true omni-channel affiliate, covering both retail and digital activation across the legal U.S. states. American Affiliate owns and operates numerous brands, including Betting Hero, BetPrep, Props and Wagers and is operated by a group of industry experts with decades of experience in the U.S. and global gaming market.
For further information, please contact:
Prit Singh, Investor Relations at FansUnite
Scott Burton, Chief Executive Officer of FansUnite
Darius Eghdami, President of FansUnite
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that FansUnite anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ”anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, ”would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements in this news release include, but are not limited to, discussion of future plans and ability to increase the Company’s reach to different regulated betting markets across the United States.
Forward-looking information are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions concerning: interest and foreign exchange rates; capital efficiencies, cost saving and synergies; growth and growth rates; the success in the online gambling and sports betting industry; the regulatory environment applicable to online gambling and sports betting; the technological infrastructure and support needed to host the Company’s online gambling and sports betting platforms and applications; any cryptocurrency applications to the Company’s business; and the Company’s growth plan. While FansUnite considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking information. In addition, forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; risks associated with the regulatory environments in the jurisdictions the Company operates in; technology-related risks that could adversely effect the Company’s ability to operate its online gambling and sports betting platforms and applications, risks related to the novel coronavirus (COVID-19) global pandemic and any effects it might have on the Company’s business thereto. Readers are cautioned that the foregoing list is not exhaustive. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of FansUnite which are available on SEDAR at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. FansUnite disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
NON-IFRS FINANCIAL MEASURES:
This shareholder letter refers to certain non-International Financial Reporting Standards (“IFRS”) measures. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is not a recognized performance measure under IFRS. EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. EBITDA, is a non-IFRS measure which represents net income (loss) adjusted to exclude interest, income taxes, depreciation, and amortization. EBITDA is included as supplemental disclosure because management believes that such measurement provides a more meaningful assessment of the Company’s operations on a continuing basis by eliminating certain non-cash charges and charges or gains that are infrequent. The most directly comparable measure to EBITDA calculated in accordance with IFRS is net income (loss). Readers are cautioned that these measures should not be construed as an alternative to measures determined in accordance with IFRS as an indication of the Company’s performance.