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Sports Betting and I-Gaming Leaders: Penn National Gaming, FansUnite, Rush Street Interactive, and Genius Sports positioned for Explosive Revenue Growth
Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Penn National Gaming (NASDAQ: PENN), FansUnite (OTC: FUNFF) (CSE: FANS), Rush Street Interactive (NYSE: RSI) and Genius Sports Limited (NYSE: GENI). Wall Street Reporter highlights the latest comments from industry thought leaders in the esports, digital entertainment, and gaming markets:
FansUnite “Positioned for Exponential Revenue Growth in iGaming, E-Sports, Online Sports Betting”
In his latest presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton shared the global i-gaming company’s latest progress and milestones in the multi-billion dollar i-gaming, and sports betting market. FUNFF was recently granted a UK gaming license, enabling the Company to serve as a Business-to-Business technology provider and Business-to-Consumer operator in the $20 billion+ UK online gambling market, which is one of the world’s largest online betting markets. FUNFF is also positioned to play a foundational role in Canadian sports betting as that market opens.
FUNFF has developed a one of a kind i-gaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. Scott Burton shared that the RNG games are expected to be a major source of revenue, thanks to a distribution deal with a major online casino games aggregator which can license the games to thousands of online casinos – setting the stage for exponential revenue growth opportunities.
FUNFF recently appointed i-Gaming industry veteran Mike Lee, as VP of gaming to lead the development and growth of FUNFF casino operations, launching new i-Gaming products and expanding global distribution. Mike Lee was the CEO of Genesis Gaming, a prominent gaming provider, where he oversaw the company’s global business operations, leading the development of Genesis Gaming’s game delivery platform and overseeing an extensive portfolio of more than 100 gaming titles. Burton also shared that FUNFF, with a recently closed C$24.7 capital raise, is well positioned to take advantage of potential M&A opportunities in the online gaming industry in the coming months.
Penn National Gaming CEO, Jay Snowden: ”Creating North America’s Leading Digital Sports Content Gaming and Technology Company”
“…We’re preparing to launch the Barstool Sportsbook app in four or five more states by the start of NFL season next month. And by the end of this calendar year, we expect to be live in at least 10 states, while also introducing several new features to the app, such as same-game parlay and shareable bet slip, which we’re really excited about…With greater operating scale and leverage, improved products and unique value-creating marketing strategies, we believe we are extremely well positioned for a strong fall, as we roll into Barstool Sports’ favorite time of the year, football season, which provides a nice segue to our pending acquisition of theScore, which is the number one sports app and sports media name in Canada and the third most popular sports app and sports media name in North America.”
“When we add theScore’s unique integrated media and betting platform and modern state-of-the-art technology to the massive audience of Barstool Sports and its wildly popular personalities and content, we’ll be creating North America’s leading digital sports content gaming and technology company…We are uniquely positioned to seamlessly serve our customers with the most powerful ecosystem of sports, gaming and media in North America, ultimately creating a community that does not exist today…This transaction will allow us to provide state-of-the-art mobile sports betting and iCasino with highly customized bets and enhanced in-game wagering opportunities along with highly engaging personalized sports and media content and real-time scores stats and videos.
“…We believe this powerful new flywheel will result in best-in-class engagement, retention and loyalty and this larger cross-promotion ecosystem will provide us with multiple growth channels that transcend our current business verticals. In the near-term, we’ll just be scratching the surface of where we can ultimately take this company. The transaction also provides us with a path to full control of our own tech stack with a deep pool of engineering talent…”
Rush Street Interactive Richard Schwartz, CEO: ”Momentum Building for Sports Betting and Online Casino Games”
“…Revenue was $122.8 million during the quarter, representing a year-over-year increase of 89%. Not only did we grow casino revenue sequentially during the period, but also sportsbook revenues despite a lighter sports calendar. With this continued success and growth in our business, we are once again raising our guidance. We now expect our 2021 full-year guidance to be between $455 million and $495 million implying 72% year-over-year top-line growth at the midpoint.”
“We have continued to make significant progress in our market access initiative… We have been selected by the Connecticut Lottery to be a sports betting partner, making RSI one of only three sportsbook operators who will be authorized to operate in the state…New York has recently accepted bids… We formally submitted our bid as part of the process. We are excited about the opportunity to offer our online sportsbook in the state of New York…We have no shortage of near-term opportunities and expected state launches coming over the next couple of quarters. And our business development team is hard at work to continue the strong momentum to secure partnerships in many new jurisdictions.”
“We also continue to be very encouraged by the legislative momentum for online sports betting and the addition of online casinos in many states which already have approved sports betting. It has become very clear we are looking at the numbers in New Jersey, Pennsylvania and Michigan that online casino is a greater generator of cash revenue, and many state legislators are recognizing this opportunity.”
Genius Sports Limited (NYSE: GENI) Mark Locke, CEO: ”At the Heart of sports, betting and media Ecosystem”
“…Genius is uniquely positioned at the heart of the sports ecosystem that connects sports, betting and media. Over our long history, we built a proprietary technology platform that our partners depend on to streamline data collection and distribution, engage audiences and ultimately monetize sports fans. By partnering with hundreds of sports leagues and federations, sportsbook operators and media brands across the globe, we are well positioned to capitalize on the growth in the sports betting market. While our fast growing sports betting market presents the best opportunity to monetize sports fans today, our vision stems far beyond the boundaries of sports betting alone. We are focused on building a tech platform that enables our partners to monetize their audience in a multitude of ways tomorrow, whether through betting, ticketing, merchandising or others…”
“The business model we have in place allows us to participate in the upside of the US market. As the US markets revenues from gaming grow, our revenue also grows, regardless of which B2C player wins share. We’re currently permitted to supply – in 13 US states and three tribal jurisdictions and have a proactive US license strategy, ensuring that there is no market in the US where we will not be able to operate…We are revising our full year 2021 revenue guidance to a range of $250 million to $260 million, up roughly 30% to 35% from where we guided the market to previously…”
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