Business
FansUnite Acquires American Affiliate, Accelerating Entry into U.S. Gaming Market
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - FansUnite Entertainment Inc. (CSE: FANS) (OTCQX: FUNFF) ("FansUnite" or the "Company"),
About this update from Draftkings Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - FansUnite Entertainment Inc. (CSE: FANS) (OTCQX: FUNFF) (\"FansUnite\" or the \"Company\"), is pleased to announce a definitive agreement dated November 22, 2021 (the \"Definitive Agreement\") pursuant to which the Company has acquired (\"Transaction\") the businesses and brands of American Affiliate LLC (\"American Affiliate\"). The Transaction will result in FansUnite securing a podium position in the U.S. online betting opportunity and will be the cornerstone of a larger U.S. affiliate strategy going forward.\nAmerican Affiliate Business\nAmerican Affiliate is a diverse collection of assets dedicated to generating new depositing customers for legal sportsbooks, online casinos, online poker sites, and adjacent products in the U.S. market.\nAmerican Affiliate's vision blends an exclusive focus on the U.S. opportunity with marquee brands, a powerful omni-channel approach, a deep portfolio of proprietary technology, and a uniquely proven management team.\nTransaction Highlights:\n\nAccelerates Entry into U.S. Gaming Market: American Affiliates' Betting Hero brand is the #1 live activation company in the U.S. sports betting and online gambling market.\nRevenue and EBITDA Growth: American Affiliate has produced trailing 12 months unaudited revenue and EBITDA of US$13.1 million and US$6.0 million respectively.\nHigh-Value Customer Base: American Affiliate's assets have generated over 150,000 new depositing customers for legal U.S. online betting operators.\nPartnerships with Tier-One Sportsbooks: Partnerships with leading sportsbooks and casinos including BetMGM, DraftKings, FanDuel, PointsBet, Underdog Fantasy, WynnBet, and more.\nStrong Alignment with Existing Management and Shareholders: Consideration shares to be issued at a 42% premium to market price with share restrictions over a three-year period\nU.S. Pure Play: The only at-scale affiliate company focused primarily on the U.S. market.\nTrue Omni-Channel: A premier at-scale omni-channel affiliate in the U.S. market, combining marquee digital brands with a best-in-class live activation arm.\nLeading Intellectual Property Portfolio: Category-leading portfolio of proprietary technology.\nWorld-Class Executive Team: Tier-one executive and management team with a history of success and scale in the U.S. gaming ma...