TAVERNIER, Fla., May 18, 2016 /PRNewswire/ -- Global Sports Entertainment Inc. (renaming from Satya Worldwide, Inc)(OTCQB: STYA), a Florida corporation (the "Company"), announced today that it completed a reverse merger on May 10, 2016, in which Global Fantasy Sports Inc, a Florida corporation ("Global Fantasy Sports"), became a wholly owned subsidiary of the Company. Shares of the Company's common stock are currently quoted on the OTC Markets under the symbol "GSEG".
ABOUT: Global Sports Entertainment. ("GSE") is a development stage 2nd Screen Entertainment company bringing a next generation fantasy sports platform principally focused on delivering a fresh fan centric and regulatory compliant approach featuring a dynamic 2nd Screen experience to all fans of televised sports including daily fantasy sports gamers. According to recent national surveys, 83% of live sports viewers now use a second screen (i.e., smartphone, tablet or laptop PC) simultaneous with their sports viewership.
The Company's Chairman, Mr. Ian Rosenblatt said, "This is an extremely exciting time to introduce our second generation daily fantasy sports ("DFS") 2.0 vision of an everyday fan-focused product. By producing authentic, socially engaging, second screen game experiences with advanced data tools and content integrated into play, GSE aims to create the perfect complement for sports viewing entertainment worldwide for all players. Through transparency, collaboration with our players and a dedication to unique game design in every sports vertical, we believe GSE will become a world leader in the ever-growing Fantasy Sports industry."
Mr. Rosenblatt continued, "The first generation daily fantasy sports competition sponsors spent $700 million worth of advertising in 48 months to launch the DFS industry. They attracted nearly 9 million to daily fantasy sports gaming and 4 million active players out of the 56.8 million active fantasy sports participants in North America. We're clearly just at the beginning of penetrating the $26 billion Fantasy Sports market. There's still a huge market that's untapped."
Marc Brody, Vice President of US Operations added, "We strongly believe that the states' legislative response to regulate the DFS space is the appropriate reaction to ensure consumer protections for all sports fans who enjoy playing DFS. The 'get rich quick' 'DFS 1.0' or the lottery ticket model created by the incumbents is simply not sustainable. GSE has the opportunity to bring a new fresh and transparent approach to the market, 'DFS 2.0.' We see a very discernable window of opportunity to bring a more engaging second screen product to the marketplace and will leverage our agile development team to take advantage of the ever changing player demands through fast and efficient iteration and innovation."
The Company's new management team includes Global Fantasy Sports, Inc.'s Chairman of the Board, Ian Rosenblatt; its CEO, Jason Butler; its Chief Technology Officer, Simon Kaastrup-Olsen; its Chief Financial Officer, Andrew Mann; its Chief Operating Officer, David Gill; and VP General Manager for US Operations, Marc Brody. The Company's Board of Directors now consists of Mr. Rosenblatt, Mr. Mann and Mr. Gill all of whom were directors of GSE prior to the merger.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Global Sports Entertainment Inc.
Florida based Global Sports Entertainment Inc. ("GSE"), renaming from (Satya Worldwide, Inc.)(OTCQB: STYA), has completed a reverse merger of Global Fantasy Sports which was formed in October 2013 and incorporated in Florida in 2015 by a team of entrepreneurial fantasy sports enthusiasts and web technology developers. Aiming to create a fresh and casual fan friendly take on the fantasy sports experience by looking beyond traditional DFS contests and professional players, GSE offers a new 2nd Screen "DFS 2.0" approach to Daily Fantasy Sports, featuring high levels of transparency and strict regulatory compliance attractive to the entire range of professional sports fans with both season-long and DFS gameplay all integrated with a strong Social focus and world class sports data analytics and support.
Forward Looking Statements:
This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Global Sports Entertainment technologies, business and product development plans and market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize the Global Sports Entertainment platform, competition in the industry in which Global Sports Entertainment operates and overall market conditions. These forward-looking statements are made as of the date of this press release, and Global Sports Entertainment assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Global Sports Entertainment files with the SEC available at http://www.sec.gov.
Marc Brody, VP General Manager US Operations
Global Sports Entertainment
RELATED LINKS: http://globalsportsentertainment.biz
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SOURCE Global Sports Entertainment Group, Inc.