FansUnite Entertainment (FANS.C) has engaged SeventySix Capital Sports Advisory (SSCSA), a sports and entertainment consulting group, to assist the Company in expanding its sportsbook platform in the United States.
“Given the growing demand for sports and esports betting in North America, we are delighted to be working with the SeventySix Capital Sports Advisory team in securing more brand partnerships in the United States…Their team has developed strong relationships with leading U.S. brands, which we can now partner with. This will enable us to continue expanding our operations in the highly lucrative U.S. online gambling market,” said Scott Burton, CEO of FansUnite.
We have all had the insatiable urge to bet on something, whether its sports, the stock market, or even something nonsensical like the winner of Gloucester’s cheesing rolling competition. In particular, sports betting has seen massive growth, especially in the United States. According to the American Gaming Association, Americans legally bet an estimated USD$3 billion on sports for the first time in a single month in October 2020. Nationwide, sports betting revenue was up 53.5% year over year to USD$237.5 million. With this in mind, the United States represents one of the largest, most active sports betting markets in the world.
FansUnite’s latest collaboration will allow the Company to leverage SSCSA’s experience in the sports and entertainment market. Furthermore, SSCSA has an expansive network of key partners representing some of the most popular brands in the industry such as Rubicon Talent. Rubicon Talent is a sports marketing and talent agency representing a wide range of clients. These clients include NFL and NBA stars, media personalities, and even Olympic icons. With this in mind, FansUnite now has the ability to form partnerships with recognizable brands, which will serve to further solidify the Company’s footprint in the U.S. sports betting market.
“We are extremely excited to assist FansUnite in its goal to replicate the success that they have experienced in other countries here in the United States…Scott and his team have built a terrific product and we’re confident that with strategic brand partnerships in place, they will become a key player within the U.S. sports betting ecosystem,” said Evan Davis, Managing Director of Sports Betting for SSCSA.
Moreover, partnerships with major companies in the industry will expose FansUnite to a larger demographic of sports betting fans. FansUnite will also be able to generate significant income by licensing its business-to-business (B2B) online gambling solutions to companies via SSCSA’s network. By expanding its presence in the U.S., FansUnite could see some significant growth following the establishment of partnerships in the future.
FansUnite’s share price opened at $0.72 today and is currently trading at $0.70 as of 11:05AM ET. This indicates that there has been no significant change following the news.
Full Disclosure: FansUnite is a marketing client of Equity Guru.