In a recent conference call, leading gambling entertainment company FansUnit released its financial figures and operating highlights for the first quarter of fiscal 2023. For the three months ending March 31, 2023, the company not only saw a slight year-over-year decline in sales, but also posted a 62% gross margin compared to 61% in the previous fiscal year.
FansUnite is an international sports and game entertainment company focused on the regulated sports betting market. The service includes securing, maintaining, supporting, and reactivating customers. In North America, the company made its name through its subsidiary American Affiliate Co LLC, an omnichannel customer acquisition company for both retail and online activities for sportsbooks, casinos and poker.
In a recent report, the gambling company reported total revenue of C$8.73 million, down about 11% during the same period of fiscal 2022. Gross margin was C$5.41 million (62%) compared to C$5.9 million (61%) in the first quarter of last fiscal year. Net loss in 2023 amounted to CA$6.15 million, not including a non-cash cost of CA$6.39 million.
The company also disclosed unlimited cash of C$5.18 million in the first quarter of 2023, a significant increase from C$2.91 million in the quarter ended December 31, 2022. Meanwhile, at the end of the first quarter, net operating capital was about C$5.9 million, compared to C$4.16 million in the fourth quarter of last year.
In February 2023, the company announced that its betting hero brand was shortlisted for a total of five awards at the 2023 iGB Affiliate Awards. The categories were Best Sports Betting Affiliate, Best Casino Affiliate, Rising Star, Innovation Award and Affiliate of the Year employer. It also signed an agreement to sell its affiliate brand BetPrep to Stream Entertainment.
Also in the same month, the gambling leader said Betting Hero recorded more than 6,700 new deposit users for its Sportsbook partner. This is the company’s new record during the Super Bowl LVII weekend, and it has received six awards nominations at the 2023 EGR North American Awards, three of them.
Another highlight of the first quarter was the completion of a Canadian $3.04 million non-development private equity offering billed by Tekkorp Capital and its affiliates. It is an investment company that advises and invests in leading public and private companies in the global gaming industry. Invested approximately C$1.4 million in the leading gambling company, both inside the company and with management.
BY: 파워볼사이트