The Pandemic Proof Industry Wall Street Can't Ignore
NEW YORK, July 16, 2020 /PRNewswire/ -- Welcome to the global sports betting industry, where merger mania is creating resilient gaming powerhouses. And as sportsbooks are still pulling in tens of millions of dollars every month during the pandemic, one off-the-radar consolidation play offers some real opportunities. Mentioned in today's commentary includes: Eldorado Resorts, Inc. (NASDAQ: ERI), Caesars Entertainment Corporation (NASDAQ: CZR), Flutter Entertainment PLC (OTCPK: PDYPY), Penn National Gaming, Inc. (NASDAQ: PENN), MGM Resorts International (NYSE: MGM).
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FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events, such as the satisfaction of the conditions precedent and subsequent consummation of the Askott transaction; expanded consumer base, business base ,offerings and gaming licenses; the growth of the online gambling market; its plan to grow by acquisition; the combined companies' ability to scale its platforms, to enter into new and emerging international gaming markets, to capture the growing demand of gamblers and to become a global gaming leader; the strengths, characteristics and potential of the combined company; the company's ability to become one of Canada's leading gaming companies; the ability to launch a proprietary sportsbook as well as a full-service white label solution aimed at taking in other sports books in the coming year; and discussion of future plans, projections, objectives, estimates and forecasts and the timing related thereto. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of FansUnite to be materially different from those expressed or implied by such forward-looking statements. Matters that may affect the outcome of these forward looking statements include that gaming may not turn out to have as large a market as thought or be as lucrative as thought as a result of competition or other factors; FANS may not be able to offer a competitive product or scale up as thought because of consumer tastes for its online product, lack of capital, lack of facilities, regulatory compliance requirements or lack of suitable employees or contacts; FANS's intellectual property rights applications may not be granted and even if granted, may not adequately protect FANS' intellectual property rights; risk factors for the online sports gaming industry in general also affect FANS including without limitation the following: competitors may offer better terms to potential M&A acquisition targets, or no such target may actually be acquired even if agreements are signed; competitors may offer better online gaming products luring away FANS's customers; technology changes rapidly in the gaming and esports business and if FANS fails to anticipate or successfully implement new technologies or adopt new business strategies, technologies or methods, the quality, timeliness and competitiveness of its products and services may suffer; FANS may experience security breaches and cyber threats; regulators may impose significant hurdles to online gaming companies; FANS may not receive applied for gaming licenses; FANS's business could be adversely affected if consumer protection, data privacy and security practices are not adequate, or perceived as being inadequate, to prevent data breaches, or by the application of consumer protection and data privacy laws generally; the products or services FANS distributes through its platform may contain defects, which could adversely affect FANS' reputation. Additional information regarding the risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Non-Offering Prospectus dated March 27, 2020 filed on its issuer profile on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements.
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