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Playmaker Reports Second Quarter 2021 Results

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Playmaker Capital Inc., the Toronto-based digital sports media company, reports its financial results for the second quarter ended June 30, 2021.

“We are very excited to share our second quarter results. Our teams are hitting on all cylinders. The organic growth of our Futbol Sites business has been exceptional and in July we added Yardbarker, a company that has experienced very strong year-over-year growth to date. Our pipeline remains robust and we have a strong balance sheet with currently over $13.0 million of cash and zero debt. We remain focused on profitable growth, both organic and through acquisition” said Jordan Gnat, Founder and CEO of Playmaker.

FINANCIAL HIGHLIGHTS (Figures in USD)

  • Revenue – Revenue was $3.0 million in Q2 2021, compared to $nil in Q2 2020.
  • Operating Income – Operating income was $0.4 million in Q2 2021, compared to operating loss of $0.1 million in Q2 2020.
  • Pro Forma Revenue – Pro forma revenue was $4.2 million in Q2 2021, an increase of 244% from $1.2 million in Q2 2020For the six months ended June 30, 2021, pro forma revenue increased by 152% to $7.6 million from $3.0 million in the same period of 2020.
  • Pro Forma Adjusted EBITDA – Pro forma adjusted EBITDA was $1.6 million in Q2 2021, an increase from $8,410 in Q2 2020. For the six months ended June 30, 2021, pro forma adjusted EBITDA increased to $2.8 million from $0.3 million in the same period of 2020.
  • Trailing 12-Month Metrics – For the 12 months ended June 30, 2021, pro forma revenue was $14.4 million and pro forma adjusted EBITDA was $6.0 million.
  • Cash and Cash Equivalents – Cash and cash equivalents of $23.5 million at June 30, 2021 compared to $6.6 million at December 31, 2020.

OPERATIONAL HIGHLIGHTS

  • On April 1, 2021, the Company acquired Futbol Sites, a top digital sports media group in the U.S. and Latin America with a portfolio of more than 10 premium sites.
  • On July 26, 2021, the Company acquired Yardbarker, a premier U.S. sports and entertainment media company, and the Morning Bark, Yardbarker’s daily email newsletter. As partial consideration in connection with this transaction, the sellers are eligible to receive an aggregate total of $4.0 million, based on Yardbarker’s performance toward an EBITDA target of $2.5 million in each of the two years following closing, as announced in a news release dated July 27, 2021.
  • On a pro forma basis, Playmaker achieved record engagement metrics in the quarter across the Futbol Sites and Yardbarker owned and operated properties. Playmaker reaches more than 70 million unique users and in Q2 2021, the user base generated more than 454 million sessions, representing a 65% increase over Q2 2020. Playmaker also reaches more than 360,000 users daily via the Morning Bark.
  • During Q2 2021, the Company completed an equity raise for gross proceeds of CAD $24.0 million and completed a reverse takeover of a capital pool company on the TSX Venture Exchange.  The Company’s shares began trading on the TSX Venture Exchange on June 3, 2021.
  • On June 11, 2021, Playmaker acquired Fanáticos Por Futebol, one of Brazil’s leading and most engaging soccer news communities.
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BetConstruct

BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

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BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

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The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

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Canada

Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria

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Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.

The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.

“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.

“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.

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“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.

Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”

“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.

The post Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria appeared first on Gaming and Gambling Industry in the Americas.

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Ottawa Black Bears Announce Partnership Deal with PowerPlay

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The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.

In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.

“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.

“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.

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The post Ottawa Black Bears Announce Partnership Deal with PowerPlay appeared first on Gaming and Gambling Industry in the Americas.

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