Fansunite Entertainment - FUNFF stock
Overview[edit]
FansUnited (CSE: FANS, OTC: FUNFF) is a global sports and entertainment company that develops technology and products for legal online sports betting and casinos. It was incorporated in Vancouver, British Columbia, Canada on November 9, 2018. Later, it was renamed to FansUnite Entertainment Inc on March 26, 2020. The company’s shares trade on the over-the-counter market (OTCQX) under the ticker symbol FUNFF and on the Canadian Securities Exchange (CSE) under the ticker symbol FANS.[1]
Products & Business[edit]
Business Lines[edit]
The company has three main business lines and has been putting efforts to develop them to grow its revenue and profitability. Its main business lines are:
- The B2B gaming operation, which targets sportsbooks and casinos.
- The B2B content licensing, which includes its proprietary Random Number Generated or RNG-based casino games developed by Askott Games
- The B2C gaming operations, which include sports betting, casino, and virtual sports platform McBookie and esports betting, esports casino, and esports daily fantasy platform, VamosGG.
B2B Offerings[edit]
The B2B offerings include products or solutions developed for selling to businesses or corporations. Here are some prominent products of FansUnite.
Chameleon Gaming Platform[edit]
Chameleon provides a comprehensive range of gaming solutions, encompassing Player Account Management, a sports betting engine, and casino management. The company has obtained certification from Gaming Labs International in various U.S. jurisdictions.[2] The platform is a business-to-business, white-label gaming platform for esports & sports betting, online casinos, and esports daily fantasy. The platform allows gaming brands to launch their own gaming products and solutions. The platform can be used for pre-match betting as well as in-play betting, daily fantasy, and generating RNG for producing casino-style chance games.
The Chameleon source code was sold to Betr Holdings, Inc. in May, 2023[2] for $3 million in cash, $2 million in stock and additional payments of up to $5 million based on certain milestones. FansUnite maintains the right to continue to develop the platform and sell those enhancements to other buyers.[3]
Askott Games[edit]
Askott Games is FanUinte’s game developing studio that develops RNG-based casino games with video game and esports themes. It develops games with a particular focus on millennials aged between 21 and 35.[4] The studio’s popular games include Loothunter, Fruit Venture, Team Vortex, Crash Heist, and Gem Powered. The company has plans to make these games available to approximately 1,000 online casinos and sportsbooks in early 2022 through partnerships. The company is in process of developing many other games, which are expected to be released throughout 2022.
B2C Offerings[edit]
The company’s B2C offerings include the following:
McBookie[edit]
McBookie is a Scottish sportsbook that offers sports betting services to Scottish customers. It operates under a license granted to it by the U.K. Gambling Commission. It provides players with sports betting, casino, and virtual sports services. McBookie attained over 10,000 active members, with a betting volume of over $100M CAD. [5] The sportsbook was sold for $5,000,000 in 2023, which represents a $2,800,000 gain over the price pain for the asset in 2020.[3]
VamosGG[edit]
Vamosgg.com is an e-sportsbook website launched on the Chameleon esports betting platform, with a particular focus on the Latin American market. It has secured exclusive rights to offer pre-match and in-play betting in Brazil for the PGL Major 2021 in Stockholm, Sweden. The event was a major success and increased the popularity of the website in Brazil.[6]
Affiliate Brands[edit]
Betprep[edit]
In February 2023, FansUnite successfully divested BetPrep to Stram Entertainment Limited. In connection with this transaction, BestOdds committed to providing FansUnite with a 30% revenue share for a duration of 36 months, contingent on a minimum monthly guarantee. This arrangement commenced after the specified ramp-up period, concluding on September 1, 2023.[3]
Mergers, Acquisitions and Divestitures[edit]
Betting Hero[edit]
In April, 2024 FansUnite signed an agreement to sell it's stake in Betting Hero to GeoComply Solutions Inc. for approximately US$20 million. Ninety percent of the proceeds will be distributed to shareholders.[7]
- ↑ otcmarkets.com. FansUnite Entertainment Inc. Condensed Consolidated Interim Financial Statements (Unaudited) For the three and nine months ended September 30, 2021 and 2020. Accessed on 4/28/2022.
- ↑ 2.0 2.1 PR Newswire. Betr Acquires Chameleon Platform from FansUnite. May 9, 2023.
- ↑ 3.0 3.1 3.2 newsfile. FansUnite CEO Provides Year End Corporate Update. December 20, 2023.
- ↑ Fans Unite
- ↑ hubspotusercontent40.net. FansUnite Investor Presentation February 2022. Accessed on 1/15/2024.
- ↑ fansunite.com. Home. Retrieved on 1/15/2024.
- ↑ newsfile. FansUnite Enters into Definitive Agreement to Sell Its Betting Hero Business to the Betting Hero Co-Founders and GeoComply. June 27, 2024.
OTC Symbol: FUNFF | OTC Tier: OTCQB
