Business
FansUnite Reports Full Year 2022 Financial Results
FansUnite Reports Full Year 2022 Financial Results.
About this update from Fansunite Entertainment Inc.
[{"type":"text","content":"Total revenue of $27.30 million for the full year of Fiscal 2022, an increase of 387% over the same period in Fiscal 2021Gross margin of $14.85 million (54%) for Fiscal 2022 as compared to $2.88 million (51%) for Fiscal 2021Company to host Year End earnings call on Friday, March 31, 2023 at 10:00 AM EST/7:00 AM PSTVancouver, British Columbia--(Newsfile Corp. - March 30, 2023) - FansUnite Entertainment Inc. (TSX: FANS) (OTCQX: FUNFF) (\"FansUnite\" or the \"Company\") announced that it has filed its consolidated audited financial statements and associated management's discussion and analysis (\"MD&A\") for the full financial year ended December 31, 2022 (\"Fiscal 2022\"). All amounts are stated in Canadian dollars unless otherwise indicated.Earnings Call Registration DetailsDay: Friday, March 31, 2023Time: 10:00 AM (EST) / 7:00 AM (PST)Topic: FansUnite's Fiscal 2022 financial results and growth outlook for the remainder of 2023Register: https://us02web.zoom.us/webinar/register/WN_NxfcPfWGS3KIXxm9NYX0kg Fiscal 2022 Financial Highlights:Total revenue of $27.30 million, an increase of approximately 387% over 2021Gross margin of $14.85 million (54%) as compared to $2.88 million (51%) for 2021Adjusted EBITDA loss of $8.67 million, as compared to $10.06 million in 2021Fourth Quarter Fiscal 2022 Operational Highlights:On October 5, 2022, FansUnite announced that the Company obtained the GLI-33 Event Wagering Systems certification from Gaming Laboratories International (GLI ®) for its Chameleon iGaming Platform software as a service (\"SaaS\") sportsbook solution.On October 6, 2022, FansUnite appointed gaming expert Quinton Singleton as a member of the Company's Board of Directors to advance its North American expansion strategy.On December 15, 2022, FansUnite announced that the Ohio Casino Control Commission has granted the Company a Sports Gaming Supplier License for its Chameleon iGaming platform in the state of Ohio in connection with sports micro-betting brand betr's launch on January 1, 2023.Subsequent Events to Fiscal 2022:On January 18, 2023, FansUnite reported that its subsidiary McBookie Ltd produced an increase in its annual turnover in 2022, across its sports betting and casino channels, to £44.8 million as compared to £36.6 million in 2021, an increase of 22% while gross win across both channels increased ...