Gaming Nation Acquires Competitor Artemis Tech

TORONTO, Sept. 5, 2017 /PRNewswire/ - Gaming Nation Inc. (TSXV-FAN) ("Gaming Nation" or the "Company") is pleased to announce that it has acquired Artemis Technology Group LLC ("Artemis") in a transaction that will see Gaming Nation's subsidiary, 5050 Central Ltd., acquire all of Artemis' electronic 50/50 raffle customers.

"We are pleased to have completed this transaction and believe the acquisition of the customer base of Artemis will further establish 5050 Central as the dominant provider of electronic 50/50 raffles globally," stated Scott Secord, President/CEO of Gaming Nation.  "We have also added key talent to our 5050 Central team as Artemis founder Jason Zent will join the management team of 5050 Central and Erinn Zent will join the company as general counsel for our U.S. based clients." 

The transaction will see 5050 Central acquire key customers including the Boston Bruins, Boston Celtics and Buffalo Sabres.  The Company expects to launch 5050 Central's platform with all former Artemis clients beginning this month in preparation for the NHL and NBA seasons. 

"We are thrilled to have the opportunity to join Gaming Nation and work directly in continuing to grow their 50/50 raffle business.  Merging with the leader in this space will be extremely positive for our current clients and we look forward to working with the team at 5050 Central," commented Jason Zent.

Forward-Looking Statements

This press release contains forward looking information within the meaning of Canadian securities laws concerning the business, operations and financial performance of the Company and BD Sport's businesses.  Forward looking information includes but is not limited to statements with respect to revenues, EBITDA, free-cash-flow, earn out payments and accretive earnings.  This forward looking information is based on certain assumptions regarding expected growth, results of operations, performance and business prospects and opportunities.  While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect.  Forward-looking information is subject to a number or risks, uncertainties and other factors that could cause actual results to differ materially from what the Company currently expects.  These risks, uncertainties and other factors include, but are not limited to market, currency, operational liquidity, changes in economic conditions, interest rates or tax rates, the fact that gaming is a heavily regulated industry and that such regulation is subject to change, competition from other providers, the possibility that the Company will be unable to successfully integrate any proposed assets to be acquired, the risks associated with international and foreign operations and the risks.  Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

The foregoing factors are not intended to represent a complete list of the factors that could affect the Company and the Transaction.  The Company does not intend or undertake to publically update any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.  Any forward-looking statements or facts (including financial information) related to BD Sport's businesses discussed or disclosed herein are derived from information obtained from BD Sport and has not been independently verified by the Company.

Reconciliation of Non-IFRS Measures

In this press release, the Company uses the terms "EBITDA", "EBITDA margin", "EBITDA to free-cash-flow conversion rate", "accretive" and "free-cash-flow".  These terms do not have a standardized meaning in accordance with International Financial Reporting Standards ("IFRS") and, are therefore, unlikely to be comparable to similar measures presented by other companies.  Rather, these measures are used to provide management and investors with additional measures of performance.

ABOUT GAMING NATION INC.:

Gaming Nation Inc. (TSXV-FAN) provides technology and information platforms to the sports and entertainment industry.  The company's platforms include 5050 Central, an electronic real-time raffle system, BD Sport Group, providing in-stadium betting in the UK football market, and sports information websites Fantasy Guru, FantasyGuruElite and Pick Nation.

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ABOUT 5050 CENTRAL LTD.:

5050 Central Ltd., a wholly owned subsidiary of Gaming Nation Inc., is a digital raffle software system that drives consumer participation in raffle events while providing accountability to the raffle process. The 5050 Central system digitally captures every transaction while providing updated real-time raffle information to display devices located throughout the venue. Tickets are sold to fans through tablet kiosks and mobile hand-held devices, creating an effortless data collection system providing faster sales transaction, longer selling periods, accountability and substantial increases in average raffle proceeds.  5050 Central boasts some of sports' most iconic brands as clients, with partners across the sports landscape including MLB, NFL, NHL, NBA, MLS, NLL, CFL & EFL as well as several NASCAR events, PGA tournaments and NCAA institutions.

For more information visit, www.5050central.com

Connect with 5050 Central on LinkedIn, Facebook and Twitter

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Gaming Nation Inc.