FansUnite (FANS) has released updates for Q1 2021 including record revenue, new RNG games and new gambling licenses.
McBookie
Betting volume on the company's sportsbook and casino increased significantly and set new records:
- Gross gaming revenue was C$982,000, a record for any quarter since inception and a 136 per cent increase compared to Q1 2020
- Gross margins increased by approximately 138 per cent compared to Q1 2020
- Total betting volume surpassed $28 million for the quarter
McBookie had a peak betting volume of over 1,000 customers for the quarter, as well as 23,000 sports bets placed in a single week, the highest number of weekly wagers since inception.
U.K. Gambling Licenses
FansUnite has applied for U.K. Gambling Licenses, which are the gold standard for gambling authorities worldwide. The company expects its application to be approved in Q2 2021.
U.S. Esports Sportsbook
The company's esports sportsbook with Sky Ute Casino has undergone private beta testing and is ready for launch upon final regulatory approval. The sportsbook has met all local requirements, including remote server installation of FansUnite's betting engine and player database, geofencing, player KYC and the successful integration of Sightline payments.
Askott Games Integration with The Ear Platform
Askott Games, FansUnite's wholly-owned subsidiary, has completed testing on its first four RNG games and delivered them to The Ear for integration. The company is in The Ear's development queue and will announce when the games go live.
Scott Burton, CEO of FansUnite, commented,
"The first quarter of 2021 represents a key inflection point for us as we continue to hit new milestones. We are delighted to announce McBookie's strong performance as well as the rapid expansion of our B2B operations in the North American and European market.
Obtaining the U.K. gambling licenses, coupled with the completion of our esports wagering platform in Colorado and the full integration of Askott Games' iGaming solutions will allow us to solidify our position as a leading global online betting company."
FansUnite Entertainment is focused on technological solutions for the online gaming market.
FansUnite (FANS) is up 9.3 per cent and is currently trading at $0.94 per share as of 11:01 am ET.