Gaming Nation Inc. Announces Second Quarter 2017 Financial Results

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[{"type":"text","content":"\n\n\n\nGaming Nation Inc. Announces Second 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, Aug. 28, 2017\n\n\n\nTORONTO, Aug. 28, 2017 /CNW/ - Gaming Nation Inc. (TSXV-FAN) (\"Gaming Nation\" or the \"Company\"), today announced its financial and operational results for the second quarter ending June 30, 2017. Condensed 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\nDuring the second quarter, Gaming Nation Inc. entered into a plan of arrangement with OC Special Opportunities Fund, LP, a private investment fund, managed by Orange Capital Ventures GP, LLC. to acquire 100% of shares in Gaming Nation Inc. \"We believe the transaction with Orange Capital is both a positive for our shareholders and for the future of Gaming Nation and its core business lines,\" said Scott Secord, Gaming Nation's President and CEO. \n\nScott Secord further commented, \"In addition to the announcement of the plan of arrangement, I am pleased to report Gaming Nation's core business lines hit key strategic and financial milestones during Q2.  5050 Central secured new agreements with 27 customers in North America, with the Ontario market being a primary area for growth with major customer acquisitions in the Canadian Football League and Ontario Hockey League. BD Sport Group continued to match historical performance, while securing long-term renewals from customers such as Newcastle United F.C. and Aston Villa F.C. The Fantasy Guru business continues to exceed revenue projections thanks to the launch of the Guru Elite business, showing year-over-year Q2 revenue increase of 966%. Q2 was a strong quarter for all of our key business lines and we anticipate that to continue in the coming quarters through end of fiscal year 2017.\"\n\nSecond Quarter Segment Highlights\n\n\n5050 Central Ltd. – During Q2, 5050 Central secured multi-year agreements with 27 new customers and also renewe...

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