ALISO VIEJO, CALIFORNIA--(Marketwired - Oct. 17, 2016) - Fantasy Aces Daily Fantasy Sports Corp. (the "Corporation" or "Fantasy Aces") (TSX VENTURE:FAS)(OTC PINK:FASDF) is pleased to provide shareholders with a fall update which includes results through the first week of October.
Fantasy Aces is excited to announce the results of the first 5 weeks of the NFL season. A major indication of this performance is the site's NFL tournament Overlay which is 1/4 the size as a percentage of gross revenue when compared to the 2015 same period. This statistic is a direct reflection of the Company's improvement in managing its site operations.
Additionally, this past Sunday's NFL tournaments generated the greatest single day tournament's net revenue in the company's history of $11,000, with $250,000 in prize payouts; even more noteworthy with only a 2% Overlay. With the NHL and NBA right around the corner, the Company expects to easily exceed its Q4 2015 revenue figures - Q4 being the largest revenue quarter of the year.
It's also worth noting that the MLB's 6 month season concluded Sunday October 2 generating specular performance increases over the same time last year. Gross revenue was up 231%, prize payouts greater than 240%, and 2015 overlay as a % of gross revenue dropped from 87% to an impressive 30% in 2016. Management's expertise and continued achievement in its site management performance further validates our standing as a Top Five DFS site.
In addition, the NHL season is officially under way and having offered NHL contests for over 3 years we expect hockey to contribute 5% of our top line revenue, an important increase over the previous year's 1.5%. This increase is due to our broadened contest offerings, improved competitive landscape as well as the recent acquisition of Fantasy Feud.
Tom Frisina, CEO of Fantasy Aces states: "I am encouraged with our current performance to date and have confidence in my team's ability to outshine our past numbers quarter over quarter. The interest in the sector continues to grow, and with the States one by one, led by New York, adopting fully legal status and as a game of skill, the industry outlook continues to show incredible growth potential for years to come. This has been an exciting past few weeks and we look forward to creating greater shareholder value over the coming months."
About Fantasy Aces
Fantasy Aces is a leading DFS (Daily Fantasy Sports) site focused on everyday skill-based fantasy sports games. Fantasy Aces has developed proprietary software which allows users to create fantasy teams from the player rosters of actual sports leagues and then use their teams to compete against other users in various categories such as points scored, yards gained, goals, assists or home runs registered, depending on the specific sport. The FantasyAces.com website currently offers daily and weekly skill based fantasy sports games for six major North American sports, including the NFL, NBA, NHL, MLB, College Football and the PGA. Fantasy Aces also offers a variety of entry fee contest options for its members to play, in addition to free roll tournaments to attract new members to the site. Fantasy Aces charges a management fee from all entry fees collected on the website.
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"). By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, currency fluctuations, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This new release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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