This week, British Columbia-based gambling company FansUite Entertainment announced financial highlights for the three and six months ending June 30, 2023. 우리카지노탑 During the second quarter, the company posted impressive results, including total revenue of C$5.3 million, a 14% improvement over the same quarter.
As an international sports entertainment and gambling company, the B.C. corporation focuses on regulated sports betting affiliate markets, includes customer acquisition, retention, support and reactivation, and provides customer activation for online and retail sportsbooks, casinos, poker, and fantasy sports platforms through its subsidiary American Affiliate Co LLC.
In addition to gross revenue of C$5.3 million, the B.C. gambling leader reported gross margins of C$3.3 million, or 62%, in the second quarter. This was an impressive 70% increase compared to C$2 million, or 41% from Q2 2022. EBITDA reached C$4.3 million in the fiscal second quarter, an increase of C$15.3 million compared to C$11 million in the second quarter.
For the six months ended June 30, 2023, the company reported revenue of C$13.03 million, slightly less than C$13.23 in the same period in 2022. Meanwhile, gross margin for the period was estimated at C$8.25 million. This represents an improvement of C$7.3 compared to the same period in 2022.
The gaming company has been quite busy in the first six months of 2023, as it signed a final deal in early May 2023 to sell all shares of its wholly owned subsidiary, MacBookie Ltd, to a third party who can sell it. The latter was a private limited company in Scotland that B.C. Company sold for C$5.5 million in cash, earning C$4.4 million.
A week later, the gaming company also announced a final asset purchase signature, which sold source code related to the Chameleon gaming platform to Betr Holdings. The deal was reported to be worth close to C$10 million and reported in June that it had received approval from the Toronto Stock Exchange to renew its normal course issuer bid.
FansUnite is one of many private gambling companies that have entered Ontario’s regulated market for online gambling and sports betting. The entry was announced in March 2022 and is currently a fully registered supplier of sports betting and internet games under Ontario’s Alcohol and Gaming Commission. AGCO and iGaming Ontario are overseeing the iGaming division.
Betting Hero, a subsidiary of Betting Hero, an Ontario gambling company, released a report on the gray market in Ontario. The study found that 51% of sports betting companies in Ontario used gray market online sportsbooks before the state’s regulatory markets began, with 25% of local betting companies willing to try new sports betting apps due to the promotion.