• Total revenue of $23.72 million for the full year of Fiscal 2023, an increase of 3% over Fiscal 2022
• Gross margin of $14.88 million (63%) for Fiscal 2023 as compared to $12.83 million (56%) for Fiscal 2022
• Company to host Year End earnings call on Tuesday, April 2, 2024 at 10:00 AM EST / 7:00 AM PST

In the fast-evolving landscape of online gaming and sports entertainment, FansUnite Entertainment Inc. (TSX: FANS) (OTCQB: FUNFF) emerges as a stalwart, reporting robust fiscal performance amidst strategic restructuring. As the company charts its course for sustained growth and profitability, its recently announced fiscal results for the year ended December 31, 2023, underscore its resilience and strategic vision in an ever-competitive market.

Background and Context

Founded as a global online gaming and affiliate business leader, FansUnite has established itself as a frontrunner in the lucrative world of sports betting and entertainment. Its commitment to innovation and customer-centric solutions has propelled it to the forefront of the industry, earning accolades and recognition for its strategic prowess and operational excellence.

Key Highlights and Advantages

In fiscal 2023, FansUnite reported total revenue of $23.72 million, marking a commendable 3% increase over the previous year. Notably, the company achieved a gross margin of $14.88 million, representing an impressive 63%—a significant uptick from the 56% margin reported in fiscal 2022.

Amidst its financial achievements, FansUnite pursued strategic divestments, shedding non-core assets to bolster its financial position and streamline operations. With the sale of BetPrep, McBookie, and the Chameleon source code, the company anticipates annualized cost savings of approximately $7.8 million, signaling a strategic pivot towards sustainable profitability.

Potential Impact and Significance

FansUnite's fiscal performance in 2023 bears testament to its resilience and adaptability in navigating market challenges. As it fortifies its balance sheet and optimizes its cost structure, the company positions itself for long-term success, poised to capitalize on emerging opportunities in the dynamic gaming landscape.

Expert Opinions and Analysis

According to Scott Burton, CEO of FansUnite, the company's transformative initiatives in 2023 lay the groundwork for sustained growth and positive outcomes. With a strategic focus on its affiliate business and a commitment to delivering value to stakeholders, FansUnite remains primed for future success.

Challenges and Considerations

While FansUnite celebrates its fiscal achievements, challenges and uncertainties persist in the competitive gaming industry. Regulatory shifts, market dynamics, and technological advancements pose ongoing challenges, necessitating agile strategies and proactive measures to mitigate risks.

Conclusion

As FansUnite closes the chapter on a transformative fiscal year, its strategic foresight and financial resilience set the stage for a promising future. With a commitment to innovation, operational excellence, and customer-centricity, FansUnite stands poised to redefine industry standards and drive shareholder value in the years ahead.

In an era of unprecedented change and opportunity, FansUnite remains a beacon of strength and resilience in the global gaming landscape. As investors and industry stakeholders look ahead to the company's future endeavors, one thing is certain: FansUnite's journey is just beginning.

About FansUnite Entertainment Inc.

FansUnite is a global sports entertainment and gaming company, renowned for its innovative solutions and customer-centric approach. With a focus on regulated and lawful sports betting affiliate markets, FansUnite continues to redefine industry norms and drive sustainable growth. Through its subsidiary American Affiliate Co LLC ("AmAff"), the company remains a dominant force in the North American affiliate market, catering to a diverse range of sportsbooks, casinos, poker, and fantasy sports platforms.

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