UK-based operator recorded year-over-year betting turnover growth of 22%
Vancouver, British Columbia–(Newsfile Corp. – January 18, 2023) – FansUnite Entertainment Inc. (TSX: FANS) (OTCQX: FUNFF) (“FansUnite” or the “Company“) is pleased to report that the Company’s wholly-owned UK-based subsidiary, McBookie Ltd (“McBookie“), has recorded significant year-on-year turnover and gross win growth for both sportsbook and casino segments.
Annual turnover in 2022 across both channels increased to £44.8 million GBP as compared to £36.6 million GBP in 2021, an increase of 22%. Sportsbook turnover increased 26% to £16.5 million GBP from £13.1 million GBP, while casino turnover grew by 20% to £28.4 million GBP from £23.6 million GBP.
Gross win across both channels increased by 44% to £2.35 million GBP from £1.63 million GBP, with McBookie’s gross margin increasing to £1.0 million GBP in 2022 from £0.6 million in 2021, or 43% and 36% respectively, expressed as a percentage of revenues.
“Once again, McBookie has proven to be the dominant force in the Scottish sportsbook and casino marketplace,” said Scott Burton, CEO of FansUnite. “By realizing another 44% gross win increase last year on top of its 54% gross win increase in 2021, McBookie has demonstrated its ability to maintain a strong connection with its loyal customer base as well as activate new bettors. Overall, we are delighted with McBookie’s continued growth and we believe McBookie is positioned for a record-breaking 2023.”
Furthermore, McBookie had the most profitable month of the year in December 2022 with over £144,000 GBP in gross margin, as a result of the recent 2022 FIFA World Cup. The Company also delivered strong results in October and November 2022, with gross margins of £109,000 GBP and £105,000 GBP, respectively.
About FansUnite Entertainment Inc.
FansUnite is a global sports and entertainment company, focusing on technology related to regulated and lawful online gaming. FansUnite’s one-of-a-kind iGaming platform Chameleon offers operators a full suite of gaming solutions with a sports and esports focus geared for the next generation of online bettors and casino players. Along with providing B2B technology solutions, FansUnite operates multiple B2C brands, such as Scottish sportsbook McBookie and Brazilian sportsbook VamosGG. FansUnite is the parent company of North American-focused AmAff, which operates leading affiliate brands such as Betting Hero, Props.com, and BetPrep.
For further information, please contact:
Prit Singh, Investor Relations at FansUnite
Scott Burton, Chief Executive Officer of FansUnite
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: comments made by officers of the Company regarding continued growth. 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 Annual Information Form dated June 15, 2021 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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