Gaming Nation Inc. Announces Closing of BD Sport Group Acquisition
Mar 2nd, 2017 |
Toronto, ON, Thursday, March 2, 2017: Gaming Nation Inc. (TSXV-FAN) ("Gaming Nation" or the "Company") announced today that it has closed its previously announced acquisition of BD Sport Group Ltd. ("BD Sport"), the market leader for stadium betting services in the United Kingdom for £8,800,000 with an additional earn out provision of up to £2,200,000. The acquisition was previously announced on December 13, 2016. As a result, Gaming Nation has attained a portfolio that includes 100% of the shares of BD Sport Ltd., BD Stadia Ltd. and BD Deportes SL.
The acquisition extends Gaming Nation’s portfolio into the stadium betting services industry while leveraging BD Sport’s existing infrastructure and client base in deploying Gaming Nation’s 5050 Central platform within the European market. The acquisition also provides the foundation and infrastructure to grow BD Sport’s businesses in new stadiums via 5050 Central’s existing relationships and combined services.
Gaming Nation President/CEO Scott Secord commented, “We are excited to have closed the acquisition of BD Sport Group and look forward to integrating the infrastructure and management expertise into our operations. The combined synergies of 5050 Central and BD Sport will provide a platform for growth in both companies in an aggressive and profitable fashion.”
About BD Sport
BD Sport was founded in 2007 to provide stadium betting services for sports teams and brands primarily in the UK football market. BD Sport Group operates stadium betting at 31 stadiums in the UK employing 9 full-time employees and over 1,000 match day staff. BD Sport processes more than 3 million bets per season from football and rugby fans via its company BD Stadia Ltd., utilizing its own bespoke and hardware solutions developed over the last 10 years. BD Stadia Ltd. was formed in order to satisfy the demand for a better quality of service from betting providers in football stadiums. Their match day betting service is currently operational with clubs across the Premier League and Champions League including Manchester United, Manchester City, Liverpool, Arsenal, Chelsea, Tottenham Hostpur, Everton, Norwich City, Newcastle United and Sunderland.
BD Sport also provides sports marketing services for many gambling brands and rights holders in the UK and across Europe to generate new revenue streams by linking betting to sports. Their main activities include brokering, activation, live streaming and stadium betting.
About 5050 Central Ltd.:
5050 Central Ltd., a wholly owned subsidiary of Gaming Nation Inc., is an electronic raffle software system that drives consumer participation in raffle events while providing accountability to the raffle process. The 5050 Central system electronically captures every transaction while providing updated real-time raffle information to display devices located throughout the venue. Tickets are sold to fans through fixed touch-screen terminals and mobile devices, creating an effortless data collection system providing faster sales transaction, longer selling periods, accountability and substantial increases in average raffle proceeds. 5050 Central boasts some of sports' most iconic brands as clients, with partners across the sports landscape including MLB, NFL, NHL, NBA, MLS, NLL & CFL as well as several NASCAR events, PGA tournaments and NCAA institutions.
About Gaming Nation Inc.:
Gaming Nation Inc. (TSXV-FAN) provides technology and information platforms to the sports and entertainment industry. The company's platforms include 5050 Central, an electronic real-time raffle system, and sports information websites Fantasy Guru, FantasyGuruElite and Pick Nation. The head office of Gaming Nation is located at 400 – 50 Minthorn Blvd., Thornhill ON L3T 7X8. For more information visit, www.gamingnationinc.com
Contact: Scott Secord, President and CEO 416‐479‐3873
For investor inquiries, please contact Joann Head:
Forward-Looking Statements
This press release contains forward looking information within the meaning of Canadian securities laws concerning the business, operations and financial performance of the Company and BD Sport’s businesses. Forward looking information includes but is not limited to statements with respect to revenues, EBITDA, free-cash-flow, earn out payments and accretive earnings. This forward looking information is based on certain assumptions regarding expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information is subject to a number or risks, uncertainties and other factors that could cause actual results to differ materially from what the Company currently expects. These risks, uncertainties and other factors include, but are not limited to market, currency, operational liquidity, changes in economic conditions, interest rates or tax rates, the fact that gaming is a heavily regulated industry and that such regulation is subject to change, competition from other providers, the possibility that the Company will be unable to successfully integrate any proposed assets to be acquired, the risks associated with international and foreign operations and the risks. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
The foregoing factors are not intended to represent a complete list of the factors that could affect the Company. The Company does not intend or undertake to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
Neither the 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.
