The online gaming firm FansUnite Entertainment Inc. (OTCQB: FUNFF) saw its shares surging 12.90% on Friday. With a rise of $0.20, the stock price has risen to $1.75 at the ring of the bell in the weekend session. The number of shares traded on the day remained 3.88M while the stock remained trading in a range of $1.5120 to $1.8800.
What does the company do?
FansUnite is an entertainment and sports company, with a focus on the development of new and related technologies around regulated and legal online gaming. One of FansUnite’s main businesses is operating the FansUnite Sportsbook and its UKisubsidiary, McBookie Limited, offering online gaming services through a website. Besides providing technology solutions and products, FansUnite also offers entertainment and gaming industry services. It focuses on the acquisition of high-growth potential platforms and assets in new and developing markets.
Recent developments and targets:
Scott Burton, the CEO of Fans Unite, explained in a recent presentation at the Wall Street Journal’s NEXT SUPER STOCK Livestream how the burgeoning online gaming market will result in exponential prospects for revenue growth.
- The company has struck a new distribution contract with an online casino games aggregator setting the stage for significant growth in revenue.
- FUNFF plans to extend its current line from three games to twelve within the next 12 months, targeting millions of potential online casino customers worldwide, thus adding several aggregators for each slot.
- These figures will easily add up for each game that produces as much as $500,000 in revenue per month for FUNFF.
- Such per online casino potential can come up with an ability to be in hundreds of online casinos for the company.
- Prominent U.S. gaming law firm Ifrah Law PLLC has been engaged by FansUnite to assist it with its U.S. licensing strategy through collaboration with OneComply Inc.
- FansUnite has therefore engaged Jeff Ifrah, the founder of Ifrah Rule, to offer advice on accelerating expansion in New Jersey and through numerous states in the U.S.
- FUNFF engages the services of Ifrah Law PLLC, a prominent U.S. gaming law firm to collaborate with OneComply Inc. in assisting FansUnite with their U.S. licensing strategy.
- S. gambling and casino operators have shown very positive interest on FansUnite’s sports betting and iGaming solutions.
Future of online sports betting has much for FansUnite:
New markets are opening in North America, with online sports betting markets experiencing explosive growth. With New Jersey recently making over $1 billion in taxable revenue per month, more states seeking tax revenue are allowing sports betting and gaming. Canada may soon follow suit and allow sports betting with the passage of Bill C-218. All of this points toward a good growth potential for businesses operating in this industry segment.