Global Daily Fantasy Sports Inc. (TSX-V: DFS)
VANCOUVER, May 26, 2017 /CNW/ - Global Daily Fantasy Sports Inc, ("Global" or the "Company") is pleased to announce that it has purchased Mondogoal Limited's ("Mondogoal") operating assets consisting of intellectual property, trademarks and client contracts (the 'Purchased Assets') for its Daily Fantasy Sports B2B operations in Italy.
Mondogoal is a leader in daily fantasy sports in Italy.1 Mondogoal's blue chip client base includes Lottomatica Scommesse S.r.l. (Lottomatica) and Sisal Entertainment S.p.a. (Sisal) two of the largest gaming brands in Italy. Global is also pleased to announce as part of the transaction it has secured new agreements with both Italian operators for an additional two-year term. These new agreements will strengthen Global's distribution network, as both Lottomatica and Sisal in 2016 represented 14%2 of the Italian online sports betting market. Lottomatica is the market leader in the Italian gaming industry with a network of about 100,000 points of sale, distributing games and services through one of the world's largest network of connections. Through its parent company, International Game Technology PLC (IGT), has a presence in more than 100 countries. IGT trades publicly on the New York Stock Exchange and is the world's largest end-to-end gaming company, with leading market positions in North America and Italy and the most extensive gaming content library in the world. 3
Sisal has been in business more than 70 years and has more than 14 million customers in Italy. Sisal operates in the gaming and betting market with a full spectrum of products in retail and online channels. Sisal has a network of more than 45,000 points of sale.
"We are pleased to go on in our journey in the DFS segment together with Global – says Ignazio di Lauro, Sisal Head of Sportsbook -. Thanks to its innovative platform, FantaMister will benefit and strengthen its position in this market segment. The first year has been very challenging and, at the same time, important for us in order to understand customers' needs and behavior. We believe in the growth of the DFS sector in Italy and Sisal has to be ready to reach this opportunity. With Lottomatica, we built the largest DFS network in Italy and our objective is to keep growing together".
Pursuant to an asset purchase agreement dated as of May 11, 2017, the consideration for the purchased assets consists of a combination of a small cash payment plus common shares of Global having a value equal to net gaming revenues from the purchased assets over the next three years. For purposes of this calculation, the Company's shares will be valued using a 30 day VWAP immediately prior to the applicable earnout period. All share issuances are subject to prior TSXV approval.
"The acquisition of the Mondogoal operating assets and new agreements with Lottomatica and Sisal position us well to grow our business in one of our key European markets" states Darcy Krogh CEO of Global Daily Fantasy Sports. "Italy is one of the largest online gaming markets in Europe and one of the first to establish itself in the daily fantasy space. This is a strategic investment for Global and we look forward to working with Lottomatica and Sisal to build out a strong network in Italy with our innovative platform."
Sources: 1 PR Newswire, January 2016. 2 iGaming Business, April 2017. 3 International Game Technology PLC. Form 20-F for the fiscal year ended December 31, 2016.
About Global Daily Fantasy Sports Inc.
Global Daily Fantasy Sports Inc. (TSX-V: DFS) is a multi-tenant gateway that allows operators to offer their customers a world class Daily Fantasy Sports software solution. The platform allows for seamless integration at the operator level without having to share or compromise any sensitive customer data. Joining the Company's network allows operators to capitalize on a mature infrastructure, with shared liquidity, that was built specifically for regulated market environments. As the first true B2B global network, the Company is a SaaS product that offers a turn- key solution for sportsbook operators, land-based operators, media groups, and big database companies to participate in the daily fantasy sports industry.
Global Daily Fantasy Sports Inc.
Per: "Darcy Krogh"
Darcy Krogh, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Global Daily Fantasy Sports Inc.
For further information: Darcy Krogh, President and CEO, Tel: 604 685 9316, Email: firstname.lastname@example.org