viewFansUnite Entertainment Inc

FansUnite Entertainment is poised to become a global leader in the iGaming industry


The company’s recent acquisition of Askott Entertainment adds an esports wagering component to its portfolio of businesses


Quick facts: FansUnite Entertainment Inc


Price: 0.8 CAD

Market Cap: $146.99 m
  • Revenue generating asset that has operated for over 10 years
  • Innovative B2B and B2C technology
  • Growth strategy through mergers & acquisitions

What FansUnite Entertainment does:

FansUnite Entertainment Inc (CSE:FANS) (OTCMKTS:FUNFF) is a sports and entertainment company, focused on its technology related to online sports betting and related products. The company also provides technological solutions and services in the global gaming and entertainment industries. Its technology includes fixed/parimutuel odds, in-stream betting, live betting, casino-style games, cryptocurrency wallet and news content.

FansUnite Entertainment has three divisions. First is FansUnite, which owns the FansUnite Sportsbook that will take wagers on all pro, college and regulated sporting events, as well as BetMaker Labs, a B2B sports betting technology to launch new sportsbooks.

Second, is the recently-acquired Askott Entertainment, which owns the B2B Chameleon Gaming esports platform, casino-style Askott Games, esports betting site ESP.bet, esports fantasy site Esportspools.com, and LATAM-focused Vamosgg.com.

Finally, McBookie.com provides a B2C betting service that focuses on the Scottish market. McBookie has over 20,000 active members and has placed more than $100 million in bets during the past three years.

FansUnite Entertainment has a strong management team led by CEO Scott Burton, former chief executive at Askott Entertainment, who co-founded Tedbets.com, an award-winning, peer-to-peer wagering platform. As CEO of Askott Entertainment, Scott successfully secured and controlled multiple gaming licences in several jurisdictions.

FansUnite president Darius Eghdami has been involved in the sports betting industry since 2009, and previously founded and/or led successful businesses in digital, data analytics and consumer Internet. He was recently named Canada’s Next 150 Top Entrepreneurs by the TMX Group.

How is it doing:

On August 11, 2020, FansUnite Entertainment completed the potentially ‘game-changing’ acquisition of Askott Entertainment, adding an esports wagering component to its portfolio of businesses and positioning the company to become a global leader in the I-gaming market.  

FansUnite Entertainment expects the combination of FansUnite and Askott will have four live business-to-consumer platforms with more than 300,000 registered members that have generated over C$350 million in wagers since inception. The combined entity will also have four executed business-to-business contracts, two of which are currently live and generating revenue with various esports companies. And, the addition of two esports-themed casino games, which will be released on multiple casino games aggregators platforms this year, will create more betting offerings.

More recently, FansUnite Entertainment signed a partnership agreement with Las Vegas-based GameCo LLC, which expands the reach of Askott Entertainment’s esports iGaming platform, Chameleon, into the US regulated market. GameCo holds gaming licences in nearly 30 jurisdictions, including New Jersey and Nevada in the United States.  

Askott Games has also signed with a leading online casino games aggregator to distribute its proprietary Random Number Generated (RNG) games to more than 120 online casinos and sportsbooks in the European market.

FansUnite Entertainment is in the late stages of acquiring B2C and B2B licenses from the Malta Gaming Authority, and through its McBookie subsidiary has also begun the process of acquiring a UK Gambling Commission license.   

McBookie ended October 2020 with a 433% increase in revenue and 713% increase in gross margin compared to October 2019. The company stated that much of the growth can be attributed to the introduction of McBookie's live casino games and increased activity in sports betting, which resulted in $7.3 million in total betting volume being placed during the month.

During its second quarter, FansUnite realized revenue of $323,966 and had $892,611 in cash on hand as of June 30, 2020.

Inflection points:

  • Expansion of B2B contracts and B2C platforms
  • Being awarded new licenses
  • Revenue growth and M&A activity

What the boss says:

Commenting on the company’s acquisition of Askott Entertainment, FansUnite Entertainment president Darius Eghdami said: "As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada's premier iGaming companies."

"Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online iGaming company, and positions us strongly for significant growth with new offerings and market opportunities," he added.

Contact Sean at sean@proactiveinvestors.com

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FansUnite Entertainment signs multiple agreements for services to B2B...

FansUnite Entertainment Vice President Darius Eghdami joined Steve Darling from Proactive to share news the company has negotiated and signed multiple strategic vendor agreements that will allow the company to become a full-service Business-to-Consumer and Business-to-Business technology...

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