SOURCE: Gaming Nation Inc.

Gaming Nation Inc.

August 20, 2015 16:05 ET

Gaming Nation Inc. Announces Q2 2015 Financial Results

TORONTO, ON--(Marketwired - August 20, 2015) - Gaming Nation Inc. (TSX VENTURE: FAN) ("Gaming Nation" or the "Company"), today announced its financial and operational results for the second quarter ended June 30, 2015. Consolidated unaudited financial statements and Management Discussion & Analysis for the six month period ended June 30, 2015 can be found on SEDAR (www.sedar.com). All amounts are reported in Canadian dollars unless otherwise noted.

Q2 2015 Financial Highlights

  • Please note the June 30, 2015 operating results of Gaming Nation include the operations of 5050 Central, Fantasy Feud, Stevo Design / Pick Nation and Guru Fantasy Reports for the period June 9, 2015 - June 30, 2015
  • Consolidated revenue for the quarter was $395,517
  • Adjusted EBITDA for the quarter was $185,209
  • Cash and short term investments as of June 30, 2015 was $22,116,814
  • Working Capital as of June 30, 2015 was $15,316,915

Q2 2015 Operational Highlights

  • Completed a 3 year exclusive agreement with BD Sport for distribution of 5050 Central platform throughout 31 venues in the UK
  • Signed an exclusive agreement with Breaking Sports to integrate Fantasy Feud's daily fantasy sports platform with more than 600,000 mobile app users with Breaking Sports
  • Successfully transitioned 4 new operating companies under Gaming Nation's financial and operational reporting system

Q2 Conference Call Details

Gaming Nation will host a conference call on Friday August 21, 2015 at 11:00 a.m. ET to discuss its financial and operational results for the second quarter of 2015. Scott Secord, CEO, and Blair McGibbon, CFO, will chair the call.

To access the conference call, please dial +1-888-789-9572 or +1-416-340-2217 ten minutes prior to the scheduled start of the call. The Conference ID number is 2333404.

About Gaming Nation Inc.

Gaming Nation Inc. (TSX VENTURE: 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, daily fantasy games through Fantasy Feud and sports information website Fantasy Guru and Pick Nation.

For more information visit, www.gamingnationinc.com

Forward-Looking Statements

This news release contains certain forward-looking statements that reflect current views with respect to future events such as Gaming Nation outlook for future performance. Any such statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in those forward-looking statements. Forward-looking statements involve risks and uncertainties and undue reliance should not be placed on such statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements.

Factors that could cause actual results or events to differ materially from current expectations, among other things, include risks related to market factors, and other factors discussed in materials filed with applicable securities regulatory authorities, including without limitation, matters discussed under Risk Factors and Uncertainties in the Company's Management's Discussion and Analysis for the period ended June 30, 2015, available on www.sedar.com or that may be filed from time to time in the future. The forward-looking statements contained herein reflect Gaming Nation's current views with respect to future events, and except as required by law, Gaming Nation does not intend and undertakes no obligation to update any forward-looking statement to reflect, in particular, new information or future events or otherwise.

This release contains some measures that do not conform to IFRS, including Adjusted EBITDA. These measures are defined in the Gaming Nation Inc. Management Discussion & Analysis for Q2 2015 earnings results. These financial measures are used by many investors to compare companies, and Management believes that they are important measures in evaluating Gaming Nation. However, they are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Therefore, it may not be comparable to similar measures presented by other issuers. Investors are cautioned that such measures should not be construed as alternatives to comparable IFRS measures determined in accordance with IFRS.

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.

Contact Information

  • Contact Information
    Scott Secord
    CEO
    416-479-3873