FansUnite receives C$4m in cash deal for B2C brand McBookie
Global online gaming firm acquired Scottish-focused operator for C$1.6m in 2020
FansUnite has decided to offload its primary B2C brand, selling Scottish subsidiary McBookie Ltd for approximately C$4m in a cash deal to an arm’s length third party.
Vancouver-based FansUnite, which functions primarily as a B2B technology provider in the online gaming space, realized a sizable profit on the sale after originally purchasing McBookie for C$1.6m in March 2020.
During its time as part of the FansUnite portfolio, McBookie established its position as the dominant online sportsbook and icasino in Scotland, marked by steady annual growth that contributed to an aggregate 451% gross win increase and 305% turnover increase.
“This is a great deal and outcome for McBookie and for FansUnite,” said FansUnite CEO Scott Burton. “We began a path of streamlining and focusing our business in 2022. With the UK continuing to tighten regulations on gaming operations, we felt it was time for FansUnite to exit the B2C space.
“We will be able to focus more resources on the segments of our business that offer the highest growth potential with good margins, specifically the US marketplace and affiliate opportunities. This sale will strengthen FansUnite’s balance sheet as the company moves towards being cash flow positive.”
As part of the acquisition, McBookie directors Paul Petrie and Damian Walker will carry on in their roles.
“I want to thank Paul and Damian for their efforts while they were part of FansUnite and wish them well as they continue to grow the McBookie brand,” said Burton.
In addition to providing partners with a full suite of sports and esports-focused solutions powered by its proprietary igaming platform, FansUnite also owns American Affiliate.
The affiliate conglomerate operates multiple North America-facing brands, including Betting Hero and Props.com.