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:
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.