Fantasy Aces Daily Fantasy Sports Corp. 2016 Growth Update
09:00 EDT Monday, July 11, 2016
ALISO VIEJO, CALIFORNIA--(Marketwired - July 11, 2016) - Fantasy Aces Daily Fantasy Sports Corp. (the "Corporation" or "Fantasy Aces") (TSX VENTURE:FAS)(OTC PINK:FASDD) is excited to announce its most recent growth updates for 2016.
Site Performance 2016
During the first six months of 2016, the Corporation has continued to see considerable growth, even in light of the ongoing regulatory issues which are today making real progress towards resolution:
| |
| January thru June 2016 to 2015 in USD: |
| | | 2016 | | 2015 | | |
| Total Deposits: | | $2,071,332 | | $846,234 | | 240% over 2015 |
| Game Entries: | | 1,041,396 | | 516,413 | | 200% over 2015 |
| Revenue: | | $870,344 | | $309,664 | | 280% over 2015 |
| Prize Payouts: | | $8,944,843 | | $3,721,574 | | 240% over 2015 |
Through the first six months of 2016 the Corporation had an increase in net revenue of greater than $300,000 over the same period in 2015.
Historically the Corporation has earned in the first half only 25-30% of its annual earnings, which approximates that of the DFS industry, and with that the Corporation is thrilled with the Net revenue growth during what is clearly the slower period of the year. Fantasy Aces is excited to see the growth it can obtain in the more robust fall and winter months, which are the busiest in the DFS business.
June has historically been one of the slower months in the DFS industry yet Fantasy Aces posted its best month for Net Revenue in the Corporation's history.
As demonstrated above Fantasy Aces has shown tremendous growth in 2016 and expects to continue with this grow in the coming periods.
The Q2 Financial reporting package, which will include both financial statements and MD&A will be released in August.
Regulatory Update
Numerous states have held discussions and votes related to the regulation of the DFS industry in their states over the past few months. Most states are working towards implanting regulations, which is viewed as a good sign for the industry. One of the key states being New York has passed a bill in late June adjudging Daily Fantasy Sports as a game of skill and fully legal in the state. The Bill is on its way to Governor Cuomo's desk for signature. "This Bill becomes a real turning point for our industry, and in particular Fantasy Aces, a prominent and established site within the DFS business" says Tom Frisina, Chief Executive. More states are expected to pass laws in the coming months, which leads to even more optimism for the Corporation and the industry.
About Fantasy Aces
Fantasy Aces is a leading DFS (Daily Fantasy Sports) site focused on everyday skill-based fantasy sports games. Fantasy Aces has developed proprietary software which allows users to create fantasy teams from the player rosters of actual sports leagues and then use their teams to compete against other users in various categories such as points scored, yards gained, goals, assists or home runs registered, depending on the specific sport. The FantasyAces.com website currently offers daily and weekly skill based fantasy sports games for six major North American sports, including the NFL, NBA, NHL, MLB, College Football and the PGA. Fantasy Aces also offers a variety of entry fee contest options for its members to play, in addition to free roll tournaments to attract new members to the site. Fantasy Aces charges a management fee from all entry fees collected on the website.
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information (" forward-looking statements "). By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, currency fluctuations, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Trading in the securities of Fantasy Aces Daily Fantasy Sports Corp. should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact Information:
Fantasy Aces Daily Fantasy Sports Corp
Tom Frisina
Chief Executive Officer
(805) 565-7850
tom@fantasyaces.com
Fantasy Aces Daily Fantasy Sports Corp
Jerome Cliche
Corporate Communications
(514) 815-8799
jerome@fantasyaces.com