Mr. Scott Burton reports

FANSUNITE REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

Fansunite Entertainment Inc. has filed its condensed consolidated interim financial statements and associated management's discussion and analysis for the three months ended March 31, 2024.

First quarter fiscal 2024 earnings call details

Date:  Thursday, May 16, 2024

Time:  10 a.m. EST/7 a.m. PST

Topic:  Fansunite's Q1 fiscal 2024 financial results

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First quarter fiscal 2024 operational highlights

Fansunite continued to expand its U.S. footprint by participating in the launch of regulated wagering in North Carolina, generating strong operational results and furthering brand recognition as the premier live activation company. As part of the company's long-term strategy to continue diversifying revenue streams and mitigate the seasonality of North American sports, the company increased revenue for the lines of the business outside of live activation. The Betting Hero research segment expanded after signing contracts with multiple United States-based sports books during the past 12 months. Continued competition within the sports betting industry led to an increase in demand for one-time, bespoke engagements as operators seek to gain competitive and consumer-level insights that might influence strategy and help to overcome mission-critical challenges. This continued diversification will contribute to mitigating seasonal effects on American Affiliate Co. LLC's revenues.

"We are pleased to be able to show that our efforts to reach sustainable growth have been successful with our first quarter results," said Scott Burton, chief executive officer of Fansunite. "We continue to see year-over-year revenue growth while achieving strong earnings results with a first quarter increase in adjusted [earnings before interest, taxes, depreciation and amortization] of 58 per cent. Our team's diligent efforts have propelled us to profitability and eliminated the need for outside capital funding. With our focus now on maintaining a strong balance sheet, we will aim to reduce our liabilities while continuing to grow our top and bottom lines."

About Fansunite Entertainment Inc.

Fansunite is a global sports entertainment and gaming company. The business is focused on the regulated and lawful sports betting affiliate market, which includes customer acquisition, retention, support and reactivation. Fansunite has established itself as a leader in the North American affiliate market through its subsidiary American Affiliate. American Affiliate is a North American omnichannel customer acquisition company, covering both retail and digital customer activation for sports books, casinos, poker and fantasy sports platforms.

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