FansUnite touts American Affiliate acquisition as part of strong Q3 results
Eyeing accelerated entry to US market, sports and entertainment firm reports 22% YOY revenue growth
FansUnite Entertainment has announced its third-quarter results for 2021, reporting strong across-the-board numbers highlighted by a 22% year on year (YOY) increase in revenue.
The results come on the heels of FansUnite completing an oversubscribed funding round and closing its acquisition of American Affiliate as the global sports and entertainment firm looks to accelerate its entry into the US market.
Overall for the quarter, FansUnite reported total betting turnover of C$10.6m – compared to C$8.9m for the same period in 2020 – and ended the quarter with a cash and cash equivalents balance sheet of C$35.2m. That represents a C$30.8m YOY increase.
“Q3 2021 was another strong quarter for FansUnite as we saw continued growth across all business units,” said CEO Scott Burton. “During the quarter, we successfully closed an oversubscribed brokered financing of approximately C$25m, and despite typical seasonality in the sporting world in the summer months, we saw strong year over year revenue growth.”
For the nine months ending September 30, FansUnite reported total betting turnover of C$51.8m and total revenue of C$2.6m, eclipsing its 2020 figures by C$32.6m and C$1.1m, respectively.
Operationally, FansUnite received both B2C and B2B licenses from the UK Gambling Commission and expanded its executive team with the appointments of Anna Smith as head of compliance and Michael Lee as VP of gaming.
The firm will now turn its attention to leveraging the American Affiliate acquisition as it strives to build its US profile. Included in the assets FansUnite will acquire is US activation firm Betting Hero. American Affiliate also has existing partnerships with all of the tier-one operators in the US and has driven a combined 150,000 first-time-depositing customers to US sportsbooks.
“As part of our strategy to enter the US betting market, we believe American Affiliate will serve as a pillar of growth for us as we look to tackle one of the largest gambling landscapes in the world,” said Burton.
Based in Vancouver, FansUnite provides its partners with a host of versatile and vertically integrated sports betting, esports, and icasino platforms.