TORONTO, Sept. 5, 2017 /CNW/ - Gaming Nation Inc.
(TSXV-FAN) ("Gaming Nation" or the "Company") is pleased to
announce that it has acquired Artemis Technology Group LLC
("Artemis") in a transaction that will see Gaming Nation's
subsidiary, 5050 Central Ltd., acquire all of Artemis' electronic
50/50 raffle customers.
"We are pleased to have completed this transaction and believe
the acquisition of the customer base of Artemis will further
establish 5050 Central as the dominant provider of electronic 50/50
raffles globally," stated Scott
Secord, President/CEO of Gaming Nation. "We have also
added key talent to our 5050 Central team as Artemis founder
Jason Zent will join the management
team of 5050 Central and Erinn Zent
will join the company as general counsel for our U.S. based
clients."
The transaction will see 5050 Central acquire key customers
including the Boston Bruins, Boston Celtics and Buffalo
Sabres. The Company expects to launch 5050 Central's platform
with all former Artemis clients beginning this month in preparation
for the NHL and NBA seasons.
"We are thrilled to have the opportunity to join Gaming Nation
and work directly in continuing to grow their 50/50 raffle
business. Merging with the leader in this space will be
extremely positive for our current clients and we look forward to
working with the team at 5050 Central," commented Jason Zent.
Forward-Looking Statements
This press release contains forward looking information within
the meaning of Canadian securities laws concerning the business,
operations and financial performance of the Company and BD Sport's
businesses. Forward looking information includes but is not
limited to statements with respect to revenues, EBITDA,
free-cash-flow, earn out payments and accretive earnings.
This forward looking information is based on certain assumptions
regarding expected growth, results of operations, performance and
business prospects and opportunities. While the Company
considers these assumptions to be reasonable based on information
currently available, they may prove to be incorrect.
Forward-looking information is subject to a number or risks,
uncertainties and other factors that could cause actual results to
differ materially from what the Company currently expects.
These risks, uncertainties and other factors include, but are not
limited to market, currency, operational liquidity, changes in
economic conditions, interest rates or tax rates, the fact that
gaming is a heavily regulated industry and that such regulation is
subject to change, competition from other providers, the
possibility that the Company will be unable to successfully
integrate any proposed assets to be acquired, the risks associated
with international and foreign operations and the risks.
Although the Company believes its expectations are based upon
reasonable assumptions and has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended.
The foregoing factors are not intended to represent a complete
list of the factors that could affect the Company and the
Transaction. The Company does not intend or undertake to
publically update any forward-looking statements, whether as a
result of new information, future events or otherwise, except in
accordance with applicable securities laws. Any
forward-looking statements or facts (including financial
information) related to BD Sport's businesses discussed or
disclosed herein are derived from information obtained from BD
Sport and has not been independently verified by the Company.
Reconciliation of Non-IFRS Measures
In this press release, the Company uses the terms "EBITDA",
"EBITDA margin", "EBITDA to free-cash-flow conversion rate",
"accretive" and "free-cash-flow". These terms do not have a
standardized meaning in accordance with International Financial
Reporting Standards ("IFRS") and, are therefore, unlikely to
be comparable to similar measures presented by other
companies. Rather, these measures are used to provide
management and investors with additional measures of
performance.
ABOUT GAMING NATION INC.:
Gaming Nation Inc. (TSXV-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, BD Sport Group, providing
in-stadium betting in the UK football market, and sports
information websites Fantasy Guru, FantasyGuruElite and Pick
Nation.
Connect with Gaming Nation Inc. on Facebook
and Twitter
ABOUT 5050 CENTRAL LTD.:
5050 Central Ltd., a wholly owned subsidiary of Gaming Nation
Inc., is a digital raffle software system that drives consumer
participation in raffle events while providing accountability to
the raffle process. The 5050 Central system digitally captures
every transaction while providing updated real-time raffle
information to display devices located throughout the venue.
Tickets are sold to fans through tablet kiosks and mobile hand-held
devices, creating an effortless data collection system providing
faster sales transaction, longer selling periods, accountability
and substantial increases in average raffle proceeds. 5050
Central boasts some of sports' most iconic brands as clients, with
partners across the sports landscape including MLB, NFL, NHL, NBA,
MLS, NLL, CFL & EFL as well as several NASCAR events, PGA
tournaments and NCAA institutions.
For more information visit, www.5050central.com
Connect with 5050 Central on LinkedIn,
Facebook and Twitter
Neither the 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 Gaming Nation Inc.