UK Sportsbook McBookie ends a record October 2020 with a 433% increase in revenue and 713% increase in gross margin compared to October 2019
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 wholly owned subsidiary McBookie Ltd ("McBookie") closed out October with the highest increase in monthly revenue and gross margin in the company's 10-year history.
The UK Sportsbook set company records with triple-digit growth in multiple areas, led by a 433% increase in overall revenue compared to October 2019 and a total Gross win of $602K CAD during the month. Much of the growth was attributed to the unveiling of McBookie's live casino games and increased activity in sports betting which resulted in $7.3M in total betting volume being placed during the month.
McBookie's new Live Casino product, encompassing multiple tables and variations of blackjack, roulette and baccarat, all with live real dealers, garnered substantial interest from online bettors.
During the month:
- Betting volume ("Turnover") was $5.1M CAD, an increase of 460% as compared to October 2019.
- Gross Win was $197K CAD an increase of 679% as compared to October 2019.
McBookie added new features, including 'bet builder', which enables online bettors to fully customize and build their bets across any number of markets, and instantly receive a price on their desired wager. The user-friendly feature combined with a full slate of English soccer fixtures and the Scottish National Soccer Team's presence in the prestigious UEFA European Championship qualifiers, helped propel the company to new financial heights.
During the month:
- Betting volume ("Turnover") was $2.2M CAD, an increase of 188% as compared to October 2019.
- Gross Win was $405K CAD, an increase of 363% as compared to October 2019.
"Despite the global pandemic, McBookie had a record-breaking month of growth in October and demonstrated how seasoned operators can not only pivot their business during challenging times but still produce results that propel their business to new heights," said Scott Burton, CEO of FansUnite Entertainment. "With sports now starting to come back and new products in their casino offering, we have full faith that McBookie will establish themselves as the preeminent online betting platform in Scotland and expand their footprint throughout the highly sought after UK gambling industry."
"We are very encouraged with the continued growth of the McBookie platform and continue to add new features to provide our customers with innovative solutions that will create a unique experience for them," said Paul Petrie, founder and Director of McBookie. "With Serbia playing against Scotland in the European Championship Soccer Qualifiers, the US Masters beginning in two weeks and the Scottish Cup Final coming up in the next few months, sports are very much back in business and should see an increase in betting volume on our platform."
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, Chameleon Gaming 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.
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DISCLAIMER REGARDING FINANCIAL INFORMATION: The preliminary financial information set forth in this release has been prepared by management based on information currently available to the Company. Accordingly, such financial information may be subject to change. All financial information contained in this news release is qualified in its entirety with reference to the Company's audited financial statements for the financial year ended December 31, 2020, which will be filed on SEDAR as required by applicable laws. While the Company does not expect there to be any material changes to the financial information presented in this news release, to the extent that it is inconsistent with the information contained in the Company's audited financial statements for the financial year ended December 31, 2020, the financial information contained in this news release shall be deemed to be modified or superseded by the Company's audited financial statements. The making of a modifying or superseding statement shall not be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation for purposes of applicable securities laws.
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