FansUnite Entertainment Inc (CSE:FANS) (OTCPINK:FUNFF) announced Wednesday that Scottis betting subsidiary McBookie Ltd more than quintupled its gross gaming revenue year-over-year during the months of July and August.
The company drew gross gaming revenue of C$371,000 over the two month span, a dramatic increase from C$72,000 in the same period of 2019.
Driving the increase was a surge in turnover — the amount of money wagered — to C$6.3 million from C$3 million year-over-year in the same two month span.
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"We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic," FansUnite CEO Scott Burton said in a statement. "The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it."
Burton is optimistic that growth will continue as sports gradually return to their pre-coronavirus form.
“For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers,” Burton said. “We will work directly with McBookie in ensuring their presence in the UK expands and they are in a position to service this growing user base of bettors."
McBookie director Paul Petrie feels the same way.
"The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers," Petrie said. "With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success."
The Scottish company recently launched a Live Casino product, which it hopes will also drive revenue growth.
"After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino," continued Paul Petrie. "It represents another betting alternative for our loyal customers and helps us diversify our revenue stream."
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