Sad to see McBookie go as it represented stable recurring revenue with further improvements to net positive earnings left unrealized given outstanding transition from third party license/tech over the FANS'. That said, 2022 was a banner year so it may be a good time to sell on a high after a world cup year in particular. With recent modest financing, an anticipated great Q1, and ~$5milCAD from the sale of McBookie, we should have sufficient cash to ride out the quiet Q2 and Q3 periods and be back to cash flow positive in Q4. Excited to see what Q1 interim report looks like at the end of this month.
Hopefully the sale of McBookie also helps pave the way for additional/expanded B2B deals in the UK, ones which may have had a hard time to materialize if we were seen to be in a competing conflict of interest with our B2C McBookie/operations. This is a clear signal to that market that we have no such intention to expand B2C footprint, rather, we're removing ourselves completely from it.
Perhaps this move also helps FANS become a sharper B2B service takeover target now that we have severed B2C from our portfolio of products/services. We're definately evolving into a streamlined B2B & affiliate entity that may be increasingly attractive as a takeout target for one of the leading entities in that space, particularly given the North-American focus, that expanding market, and recent recognition BettingHero is getting in that space.
GLTA