FansUnite's Scottish subsidiary sees 412% year-over-year rise in GGR

FansUnite Entertainment, a technology company providing online gaming solutions, announced on Wednesday that McBookie has continued its "impressive performance" since becoming part of FansUnite.

The Scottish based operator increased its overall year-over-year (YOY) turnover for July and August by 108% (from $3M CAD to $6.3M CAD), with 78% of the turnover growth led by the return of sport.

The increase resulted in a YOY increase in Gross Gaming Revenue over the same period of 412%, resulting in gross gaming revenue of $371K for July and August 2020 and a gross margin of $161K.

During the same period last year, the platform generated $72K in gross gaming revenue resulting in a gross margin loss of $66K.

With the strong results over the last two months, McBookie is preparing to continue the positive trend with the return of the English Premier League and the other major European leagues in the coming weeks.

"We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic," said Scott Burton, CEO of FansUnite. "The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it. For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers. We will work directly with McBookie in ensuring their presence in the U.K. expands and they are in a position to service this growing user base of bettors."

"The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers," said Paul Petrie, founder and Director of McBookie. "With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success."

While the return of sport has provided an uptick in betting volume, casino turnover during the two month period was strong as well with $3.1M wagered. McBookie will be looking to build on these numbers with the recent launch of a Live Casino product earlier this month.

"After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino," continued Paul Petrie. "It represents another betting alternative for our loyal customers and helps us diversify our revenue stream."