Business
Fantasy Aces Daily Fantasy Sports Corp. Files March 31, 2016 Financial Report
Fantasy Aces Daily Fantasy Sports Corp. Files March 31, 2016 Financial Report.
About this update from Fantasy Aces Daily Fantasy Sports C
[{"type":"text","content":"\n \n \n Fantasy Aces Daily Fantasy Sports Corp. Files March 31, 2016 Financial Report\n \n \nFantasy Aces Daily Fantasy Sports Corp. Files March 31, 2016 Financial Report\n \n ALISO VIEJO, CALIFORNIA--(Marketwired - May 31, 2016) - Fantasy Aces Daily Fantasy Sports Corp. (the \"Corporation\" or \"Fantasy Aces\") (TSX VENTURE:FAS) (OTC PINK:FASDF) is pleased to provide investors with a corporate update.\n During the quarter ended March 31, 2016, Fantasy Aces continued to expand its reach into the ever growing daily fantasy sports (\"DFS\") industry, climbing to the number 4 position. This growth happened amidst the continuing macro industry issues surrounding state by state regulation. This period growth is reflected by:\n \n \n Gross Revenue of $362,000\n Prize Payouts of $3,354,000\n Customer Deposits of $972,000\n Game Entries: 388,285 up 68% when compared to Q1 2015\n Operating Gross Margin increased to 9.75% from 8.5% when compared to Q1 2015. \n \n \n Historically in the daily fantasy sports industry, the first quarter is the slowest, but as the above highlights show, Fantasy Aces was able to continue to grow in the key industry metrics of gross revenue and prize payouts. For comparative purposes, the Corporation had gross revenue of $1,208,000 for all of 2015, and $124,000 in the similar quarter in 2015, the first quarter revenue for 2016 is approximately three times the revenue when compared to the similar quarter in 2105. The Corporation's growth to date through the second quarter remains at this rate and the Corporation is confident that this growth will continue throughout 2016. \n Subsequent to the end of the first quarter 2016, the Corporation became the number 3 site behind industry leaders DraftKings and FanDuel, but in front of Yahoo amongst others, as documented by competitive site measurements of Prize Payouts. \n A key to continued growth is the iOS APP that Fantasy Aces launched on May 24. The App enhances the user experience and engagement and provides them with greater flexibility and ease of use when entering tournaments or simply viewing results when on the road or just taking a timeout to browse how they're doing. The App will evolve even more over the next 12 months as Fantasy Aces continues to roll out new features and updates.\n The highly anticipated Apple iOS App released on May 24th is available fo...