FansUnite (FANS.TO) is a sports and entertainment company, focusing on technology related to regulated and lawful online sports betting, esports betting, casino and fantasy. Their mission is to be a leader in the gaming industry by providing their partners and players the industry’s most versatile and vertically integrated platforms with a portfolio of unique products and a focus on esports, sports betting, casino and the next generation of bettors.
Today the Company announced that its customer acquisition, retention, and development brand, Betting Hero has received three 2023 EGR North America Awards (“EGR Awards”), which includes Employer of the Year, Acquisition and Retention Partner of the Year and Customer Onboarding Partner of the Year.
The EGR Awards recognizes and celebrates leading online gaming companies in North America.
FansUnite announced in March 2023 that Betting Hero was also shortlisted as finalists for six award categories including Best Sports Betting Affiliate, Best Casino Affiliate, Rising Star, Innovation Award, and the Affiliate Employer of the Year.
“We are pleased to have been announced as winners of three award categories in this year’s EGR North America Awards,” said Scott Burton, CEO of FansUnite. “The Betting Hero team continues to execute at a high level and offer outstanding support and services to our gaming partners throughout North America.”
“Winning these awards is a testament to the incredible work being done by everyone involved with Betting Hero,” said Jai Maw, President of Betting Hero. “Being compared with leading brands like Better Collective and PointsBet is an achievement in itself, but to beat those companies to arguably the most prestigious awards in the industry is something quite remarkable. We are excited to continue our improvement in the months and years ahead, allowing us the opportunity to win more awards like these.”
FansUnite recently reported full year 2022 financial results, with highlights including:
- Total revenue of $27.30 million for the full year of Fiscal 2022, an increase of 387% over the same period in Fiscal 2021
- Gross margin of $14.85 million (54%) for Fiscal 2022 as compared to $2.88 million (51%) for Fiscal 2021
- Adjusted EBITDA loss of $8.67 million, as compared to $10.06 million in 2021
FansUnite is flat for the day at time of writing and is sitting at a market cap just over $25 million.
The stock is currently sitting at a major support zone, very close to previous record lows printed at $0.06. You can see that FansUnite actually popped from this support at the beginning of the year. The pop provided a return of over 100% from support at $0.07 to highs just above $0.15.
In recent days, buyers have been entering at this zone as can be seen by large wick and full bodied green candles and generally remaining above this support. The stock really needs a catalyst for a rally from here and earnings did not do it.
Going forward, a long range has developed and technical traders should watch for a close above $0.075 to confirm a breakout and a stronger bounce from this major support zone.
