Gaming Nation Inc. Announces First Quarter 2017 Financial Results

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[{"type":"text","content":"\n\n\n\nGaming Nation Inc. Announces First Quarter 2017 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 24, 2017\n\n\n\nTORONTO, May 24, 2017 /CNW/ - Gaming Nation Inc. (TSXV-FAN) (\"Gaming Nation\" or the \"Company\"), today announced its financial and operational results for the first quarter ending March 31, 2017. Consolidated financial statements and Management Discussion & Analysis for the quarter can be found on SEDAR (www.sedar.com). All amounts are reported in Canadian dollars unless otherwise noted.\n\n\"The first quarter resulted in several key milestones being achieved while operating results showed a solid start to the year,\" said Scott Secord, Gaming Nation's President and Chief Executive Officer.  \"The Company was pleased to conclude its acquisition of BD Sport Group on March 2, 2017 and integration of those businesses are progressing well in all key areas.  5050 Central was certified and approved to conduct business in Ontario, Canada and launched its Charities and Non-Profits Division during Q1.  5050 Central also announced several strategic partnerships within the NCAA market with digital and property rights holders including IMG College, OUTFRONT Media and Van Wagner Sports and Entertainment.  In addition, Fantasy Guru continued its strong growth through the recently launched Fantasy Guru Elite platform as the company added more than new 13,000 subscribers since inception.  We are extremely pleased with the results of Q1 and the continued momentum and progress in Q2.\"\n\nFirst Quarter Segment Highlights and Recent Developments\n\n\n5050 Central Ltd. - During Q1 of 2017, 5050 Central established multi-year partnerships with 32 new customers and renewed agreements with 30 clients representing more than $1,300,000 in annual recurring revenue. 5050 Central saw total Q1 raffle proceeds increase by 16% to $21.3 million compared to $18.2 million in Q1, 2016. In addition, 5050 Central became the first company, outside of the Ontario Lottery and Gaming pilot project, to successfull...

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