SeanieMac International Ltd Reports 95% Increase in 4th Quarter Gross Profit vs. 3rd Quarter & 72% Increase in Amounts Staked...
January 07 2014 - 9:35AM
Marketwired
SeanieMac International Ltd Reports 95% Increase in 4th Quarter
Gross Profit vs. 3rd Quarter and 72% Increase in Amounts Staked and
2013 Recap
HUNTINGTON, NY--(Marketwired - Jan 7, 2014) - SeanieMac
International Ltd (OTCQB: BETS) reports preliminary results for the
4th quarter ending December 31st, 2013.
4th quarter amounts staked were approximately $1,991,759
(EUR1464,529) as compared to the 3rd quarter amounts staked
$1,155,291.80 (EUR888,686), an increase of 72% percent from the
previous quarter. Gross profit grew to $162,577 (EUR119,542) in the
4th quarter as compared to $83,021 (EUR63,863) in the 3rd quarter,
an increase of 95 percent from the previous quarter.
Total amount staked in December was approximately $847,380
(EUR623,000). SeanieMac ended the year on an annual run rate of
over $10,168,560 (EUR7,352,941).
(Amounts staked is a non-GAAP financial measure that reflects
the gross amount of online sportsbook betting activities.)
Sean McEniff, CEO, stated: "As a year end update for 2013 I
think it is important to address some of our publicly disclosed
achievements:
"SeanieMac has shown month over month growth in total bets for
every month since the initial launch of our gaming website
'Seaniemac.com' in April 2013. Since our launch in April 2013 we
have registered over 6800 users, processed over 71,000 bets, had a
total turnover of over $3.4 million dollars (EUR2,507,893) and
generated over $251,000 (EUR185,000) in gross profit.
"In the 4th quarter we established marketing partnerships with
several affiliate sites including but not limited to
'irishracing.com,' 'attheraces.com,' 'oddschecker.com' and the
'Irish Daily Mirror' (Ireland's leading tabloid newspaper).
SeanieMac plans to add many more partners in 2014 and expects these
affiliates to have a major impact on our financial volume turnover
in 2014.
"SeanieMac is very pleased with this strong start to our
business operations, but we remain focused and aware that we have a
lot of work to do to grow our business in the months and years
ahead. Our goal is to be substantially larger in the number of
users as well as revenue at the end of 2014 than we are today. We
will continue to evaluate all of our marketing initiatives in
television, print, radio, PPC and digital media to determine the
best allocations for returns on our marketing dollars. We are also
formulating the next evolution in our online platform and product
offering. We expect additional announcements on these developments
in early 2014."
About SeanieMac SeanieMac Limited is an Irish gaming company. It
owns and operates "www.SeanieMac.com", an online sports and casino
wagering web-based platform serving gamblers directly under the
brand name SeanieMac.com.
While the site offers wagering for many categories outside of
sports, SeanieMac intends to capture the Irish market by initially
focusing on the Gaelic Athletics Association (GAA) or Gaelic Games
as well as Irish horse racing and soccer. The company`s mission is
to provide a market-leading, user-friendly website for online
gambling, including sports betting and casino gaming (traditional
casino, live casino, poker, bingo and interactive skilled games).
The Company does not market to U.S. residents and, hereby,
specifically discourages them from attempting to access its
wagering services.
The Irish online gambling sector is projected to reach $6.5
billion in 2015.
As its national pastime, the Gaelic Games have long been popular
in Ireland but they are gaining worldwide appeal, especially in
areas with large communities of Irish heritage and their
descendants, such as the U.S., Canada, Australia and the United
Kingdom, where many communities have their own teams and clubs
participating in the Gaelic Leagues locally and internationally. To
learn more about the GAA, see www.gaa.ie.
Safe Harbor Statement
This news release contains forward-looking statements that
involve risks, uncertainties and assumptions. If such risks or
uncertainties materialize or such assumptions prove incorrect, the
results of SeanieMac International, Ltd. and its consolidated
subsidiaries could differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including but not
limited to statements regarding our expectations regarding amounts
staked and gross profits and our marketing initiatives. Such risks
and uncertainties include, among other things, the uncertainty
regarding consumer preferences, a decline in the popularity of our
website and competition in the online gambling industry. SeanieMac
assumes no obligation and does not intend to update these
forward-looking statements.
A further description of risks and uncertainties can be found in
SeanieMac International, Ltd.'s Annual Report on Form 10-K for the
fiscal year ended December 31, 2012 and in its reports on Form 10-Q
and Form 8-K.
Investor Relations Chuck Arnold 386.409.0200 info@invrel.net At
the Company Barry Brookstein Chief Executive Officer (386)
409-0200