Global Daily Fantasy Sports Corporate Update
VANCOUVER, April 9, 2018 /CNW/ - Global Daily Fantasy Sports Inc. ("Global or the "Company") (TSX-V: DFS) a B2B Daily Fantasy Sports software provider is pleased to provide the following business updates:
- Italian Network Update
- Showcase of Platform at Industry Tradeshows
- Product Update and Feature Release
- Appointment of Venture North for Investor Relation Services
Italian Network Update
We commercially launched our Italian facing network late in December 2017, with partners Lottomatica and Sisal. The initial customer mandate was to migrate the existing network of DFS players off the legacy Mondogoal system and onto the new Global platform. We successfully accomplished this and deprecated the Mondogoal system. The migration was achieved without a primary focus on marketing and currently we are averaging 350 slates/contests per week, approximately 12,500 weekly contest entries with weekly unique users of approximately 3000 players. We expect the current liquidity to grow as marketing becomes more prevalent with our partners and as we add more operators to the network.
Integration with our third customer Microgame is near completion and the technical teams are in the testing phase. Marketing communication with existing network partners has begun and the expectation is for Microgame to go live this current quarter and before the commencement of the 2018 FIFA World Cup Russia™. This integration provides Microgame's market-leading poker and bingo networks full access to Global's DFS platform enabling Microgame to offer a complete DFS solution across its 34 customers and more than 90 brands in the Italian market.
Showcase of Platform at Industry Tradeshows
Global successfully showcased its product and platform at the 2018 ICE Totally Gaming™ conference in February in London, England and also at Enada in Ramini, Italy in March. Attendance at these shows was part of the Company's marketing plan designed to target a wide net of established gaming operators and to further expand our Italian facing DFS network. Global's product and strategy was well received and we anticipate further customer announcements to ensue. We plan to showcase our product and platform at the SBC Betting on Sports conference in London, September 18-21, 2018
Product Update and Feature Release
Since our launch, the product has been well received by our customers. The product is built with a clear focus in mind of new markets and players. Our development philosophy is predicated on user education and maintaining a healthy player ecosystem. Our goal is to help users more easily move through the player lifecycle, and transition them from entering there first contest through becoming intermediate and eventually advanced players. One example of Global's commitment to nurturing a robust player base is our industry unique Head-to-Head matching system. All users automatically possess a skill ranking which is updated each time they participate in a one-on-one contest; Global's proprietary algorithm uses these rankings to assign users the most appropriate opponents.
In addition, Global's product is lineup centric which puts the focus on the lineup rather than individual contests. The focus on lineups is intuitive enough for new users to feel immediately comfortable, while still providing enough strategic depth and customization to present an enduring challenge for even the most experienced players. Building one ideal roster is inherently the most natural and immersive activity for new users; while at the same time advanced options and multi-entry exist to help advanced players most efficiently get their lineups into multiple contests. This provides users the flexibility to increase participation, without continuously having to choose new lineups.
We are currently offering both Salary Cap and Quick Pick draft types across six different European football leagues. All of our operators are given the option to offer these contest types and leagues as either ring-fenced contests that are exclusive to their players, or as part of networked events where liquidity is shared across all operators, offering larger prize pools while limiting exposure.
Global is pleased to announce the release of a key new feature to our DFS product. Our guided Lobby Assistant, an industry first, will help transition the onboarding of new players. The Lobby Assistant is a guided process that educates and trains players through the funnel of selecting a contest, building a line up, and entering contests. This development will prove especially useful to many of our operating partners whose players are not familiar with DFS. Providing a curated experience will reduce player churn and increase the potential to recognize more revenue.
Appointment of Venture North Capital Inc
Global is also pleased to announce that it has engaged Venture North Capital Inc. ("Venture North") to provide strategic investor relations and shareholder communications services. Venture North is a full service capital markets consulting firm, headquartered in Toronto, Canada and has experience executing strategic investor relations outreach campaigns on behalf of TSX, TSX-V and CSE listed growth companies. Mr. Bill Mitoulas, MD of Venture North will have responsibility for our file. Venture North will be focused on increasing investor awareness while introducing Global to its network of investment advisors, investment dealers, institutions and other financial professionals in Canada, US, and Europe.
Under the terms of the engagement, which is for an initial six-month period, Venture North will be paid $6,500 per month. It will also be granted 250,000 options having an exercise price of $0.35, with a two-year term. Options will vest at a rate of 50,000 immediately and 50,000 thereafter quarterly in arrears. This engagement is subject to TSX-V approval.
About Global Daily Fantasy Sports Inc.
Global Daily Fantasy Sports Inc. (TSX-V: DFS) is a licensed and regulated provider of fantasy sports software with offices in Malta, Toronto and Vancouver. Its platform 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 a 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.
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.
Darcy Krogh, President and CEO, Tel: 604 685 9316, Email: [email protected]; Bill Mitoulas, Investor Relations, Global Daily Fantasy Sports Inc., Email: [email protected], Office: 416.479.9547
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