HUNTINGTON, NY--(Marketwired - Feb 10, 2014) - SeanieMac International Ltd, (OTCQB: BETS), reports preliminary results for amounts staked during the month ended January 31, 2014.
Amounts staked in January 2014 were approximately $986,013 (EUR 730,380) as compared to the amounts staked in December 2013 of $822,000 (EUR 609,000), an increase of 20% percent month over month. Amounts staked in January 2014 (the first month of quarter ending March 31, 2014) were up 220% versus October 2013 (the first month of the quarter ended December 31, 2013), which had amounts staked of $447,155 (EUR 331,226).
We ended fiscal 2013 on an annual run rate for amounts staked of over $10,168,560 (EUR 7,352,941) and we ended January 2014 on a projected annual run rate for amounts staked of $11,832,156 (EUR 8,764,560).
Amounts staked is a non-GAAP financial measure that reflects the gross amount of online sportsbook betting activities.
We have shown month over month growth in amounts staked in every month since the launch of our gaming website Seaniemac.com in April 2013. Since our launch in April 2013 through January 2014, we have registered over 8000 users, processed over 94,000 bets, had total amounts staked of over $4.4 million (approximately EUR 3.3 million) and generated over $309,617.10 (EUR 229,346) in net gross profit
SeanieMac International, Ltd. through its Irish subsidiaries a gaming company that owns and operates "www.SeanieMac.com", an online sports and casino wagering web-based platform serving gamblers directly under the brand name SeanieMac.com.
While the website offers wagering for categories outside of sports, SeanieMac intends to capture the Irish market by initially focusing on the Gaelic Athletics Association (GAA) or Gaelic Games as well as Irish horse racing and soccer. The company`s mission is to provide a market-leading, user-friendly website for online gambling, including sports betting and casino gaming (traditional casino, live casino, poker, bingo and interactive skilled games). The company does not market to U.S. residents and, hereby, specifically discourages them from attempting to access its wagering services.
The Irish gambling industry generated approximately $18.7 billion in revenue in 2011, with 3.2 billion of that generated online. The Irish online gambling sector is projected to reach $4.5 billion in 2015.
As its national pastime, the Gaelic Games have long been popular in Ireland but they are gaining worldwide appeal, especially in areas with large communities of Irish heritage and their descendants, such as the U.S., Canada, Australia and the United Kingdom, where many communities have their own teams and clubs participating in the Gaelic Leagues locally and internationally. To learn more about the GAA, see www.gaa.ie.
Safe Harbor Statement
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Seaniemac International, Ltd. and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements regarding our expectations regarding amounts staked and gross profits and our marketing initiatives. Such risks and uncertainties include, among other things, the uncertainty regarding consumer preferences, a decline in the popularity of our website and competition in the online gambling industry. Seaniemac assumes no obligation and does not intend to update these forward-looking statements.
A further description of risks and uncertainties can be found in Seaniemac International, Ltd.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and in its reports on Form 10-Q and Form 8-K.