Consolidation in the daily fantasy sports sector
DFS operator Fantasy Aces on the Toronto venture exchange is expanding, with growth taking it into the top five operator list in the United States.
On Wednesday the company announced that it has acquired active DFS players in the database of Fantasy Feud Inc., a DFS operator owned by Gaming Nation.
The acquisition of the 35,000-strong database is conditional on payment in cash of C$25,000, with an undisclosed further consideration settled by common shares in Fantasy Aces.
Corporate stats show that the two companies have achieved total gross annual revenue of $1.15 million.
"Fantasy Aces executives and employees will continue to serve as the operators, including all day-to-day site operations," Fantasy Aces said in a statement.
Importantly, the agreement makes provision for other fantasy assets in the Gaming Nation portfolio to recommend Fantasy Aces; these assets include Fantasy Guru, DFS Guru Elite, Pick Nation and 5050 Central.
Online Casino News Courtesy of Infopowa