Gaming Nation Inc. Announces Third Quarter 2017 Financial Results

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[{"type":"text","content":"\n\n\n\nGaming Nation Inc. Announces Third 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, Nov. 29, 2017\n\n\n\nTORONTO, Nov. 29, 2017 /CNW/ - Gaming Nation Inc. (TSXV-FAN) (\"Gaming Nation\" or the \"Company\") announced today its financial and operational results for the third quarter ending September 30, 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 third quarter resulted in significant growth in our business as revenues increased by 88% compared to the same period in 2016,\" said Scott Secord, Gaming Nation's President and Chief Executive Officer.  \"The Company is pleased with the integration and results of the recently acquired BD Sport Group and the acquisition of Artemis Tech's 50/50 raffle customers.  We are also pleased to have announced on November 28, 2017, the completion of the previously announced plan of arrangement whereby OC Special Opportunities Fund, LP, a private investment fund managed by Orange Capital Ventures GP, LLC has acquired all outstanding shares of Gaming Nation.\"\n\nThird Quarter Segment Highlights and Recent Developments\n\n\n5050 Central - During Q3 of 2017, 5050 Central secured long-term partnerships with 47 new customers, bringing the total number of new customers signed in FY17 to 106. Additionally, 5050 Central renewed 23 customer accounts during the quarter. Agreements (both new and renewals) executed during Q3 represented over $1 million in annual recurring software revenue for the business. \nBD Sport - During Q3, BD Sport secured new agreements with multiple new customers including Huddersfield FC, Burnley FC, Queens Park Rangers FC, National Stadium Wembley (including all England, FA Cup, English Football League and Tottenham Hotspur F.C. games). Additionally, new brand relationships have been secured with both William Hill and SportPesa to utilize in-stadia services at club events. \nSport...

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