Fantasy Aces Daily Fantasy Sports Corp. Signs White Label eSports Agreement and Provides Operations Update
ALISO VIEJO, CALIFORNIA--(Marketwired - Nov. 4, 2015) - Fantasy Aces Daily Fantasy Sports Corp. (the "Corporation" or "FantasyAces") (TSX VENTURE:FAS) is pleased to announce that the Corporation has signed a white label licencing agreement with a private company for the utilization of one of its operating platforms for use in the fast growing eSports industry.
Fantasy Aces will begin its participation in the exciting eSports industry through an equity interest. The agreement provides a non-exclusive technology license to a private company that has begun to operate in the eSports industry. Fantasy Aces will not be required to commit any capital to this eSports initiative, as it earns its ownership interest through the grant of the license.
"I am excited about this agreement as it will enable Fantasy Aces to enter the eSports business without a capital commitment. Our learning from this exercise will better refine our business model as we prepare to enter this business segment in the future," says Tom Frisina, CEO of Fantasy Aces.
eSports is one of the fastest growing industries in the gaming sector. According to an ESPN.com article published on June 2015, "top eSports tourneys now draw audiences that rival the biggest traditional sporting events; popular midweek live streams routinely attract more than 100,000 online viewers." While eSports have long been biggest in Asia and Korea in particular, North America and Europe now claim 28 million eSports fans and the number is growing by 21 percent a year according to NewZoo.
For the month of October 2015, Fantasy Aces has had total prize payouts of just under $2,000,000 USD, an increase of 460% over October 2014. The NBA season began on October 26, and through the first 6 days Fantasy Aces saw an increase of 330% in game entries, 420% in prize payouts and 400% in management fees earned compared to the same timeframe in 2014.
About Fantasy Aces
Fantasy Aces is a leading DFS (Daily Fantasy Sports) site focused on every day skill based fantasy sports games. Fantasy Aces has developed proprietary software which allows users to create fantasy teams from the player rosters of actual sports leagues and then use their teams to compete against other users in various categories such as points scored, yards gained, goals, assists or home runs registered, depending on the specific sport. The FantasyAces.com website currently offers daily and weekly skill based fantasy sports games for six major North American sports, including the NFL, NBA, NHL, MLB, College Football and PGA. Fantasy Aces also offers a variety of entry fee contest options for its members to play, in addition to free roll tournaments to attract new members to the site. Fantasy Aces charges a management fee from all entry fees collected on the website.
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the Transaction and the Private Placement. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Trading in the securities of DraftTeam Daily Fantasy Sports Corp. should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.
All information contained in this press release with respect to the Corporation and Fantasy Aces was supplied by the Corporation and Fantasy Aces, respectively, for inclusion herein.
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 press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Fantasy Aces Daily Fantasy Sports Corp.
Chief Executive Officer
Fantasy Aces Daily Fantasy Sports Corp.