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Breaking Data Reports 80% Increase in Revenue for the Quarter ending June 30, 2018
Globe Newswire 5-Sep-2018 7:30 AM
Revenue growth fuelled by GIVEMESPORT as it prepares shift towards online gaming and sports betting through GIVEMEBET
TORONTO and LONDON, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Breaking Data Corp. (TSXV:BKD, OTCQX:BKDCF, ("Breaking Data" or the "Company")), owner of GIVEMESPORT, a leading next generation sports media company, announces its eighth consecutive quarter of revenue increases.
The quarterly increase of 80 per cent to $2,621,552 from the $1,456,763 for the three months ended June 30, 2018, comes as the Company gets set to move in to on line gaming through the acquisition of Oryx Gaming ("Oryx"), an international i-Gaming turnkey solution provider.
The completion of the deal will see Breaking Data become Bragg Gaming Group, a group that aims to expand organically and through acquisition to become a next generation gaming company, leveraging the 26M Facebook fans of GIVEMESPORT.
As part of the strategic shift towards online gaming, the Company is to launch GIVEMEBET, a new online sports betting brand, that will complement GIVEMESPORT'S leading position in digital sports publishing.
This quarterly increase in revenue resulted primarily from a sustained increase in traffic to the GIVEMESPORT website over the same quarter last year and a further shift from UK desktop to UK mobile web traffic.
In May alone, GIVEMESPORT generated 42 million visits globally. Additionally, during the quarter, GIVEMESPORT fully integrated its news in to Apple News, gaining millions of new visits.
Nick Thain, CEO of Breaking Data, said: "We are pleased to announce our eighth consecutive quarter of increased revenue. Apple News provides us with an exciting new platform to publish our content on, increasing our audience and diversifying traffic sources at the same time."
Thain continued "This provides a solid foundation for our strategic move into sports betting and gaming that started with our deal with Oryx Gaming, and is now complemented with the soon to be launched GIVEMEBET."
Notes to editors: Breaking Data's fiscal year end is March 31st. The Company's reporting currency is USD and consequently the reported interim unaudited condensed consolidated financial statement revenue increase for the 3-month period ended June 30, 2018 is 80% when taking into effect the foreign currency translation from consolidated revenues from all sources, in CAD and GBP to USD. The Company's annual and quarterly financial statements can be found on sedar.com.
Breaking Data is a market leader in artificial intelligence services that provides a range of solutions including semantic search, machine learning and natural language processing (NLP). GIVEMESPORT is Breaking Data's flagship application, a leading source of sports news and events that makes use of semantic machine learning and NLP to track social media and distribute the latest sports news to consumers in real-time.
GIVEMESPORT, Breaking Data's wholly owned subsidiary, is a leading next generation sports media company with the largest single publisher Facebook page for sports in the world, with over 26.1 million fans (Average April to June 2018). The next largest single sports publisher Facebook page is ESPN with approximately 19 million fans. GIVEMESPORT has a global Alexa ranking of 661st (March 2018), reaching over 33 million monthly visitors (March 2018). Visit GIVEMESPORT's Facebook page at facebook.com/GiveMeSport
Cautionary Statement on Forward-Looking Information This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Breaking Data and Oryx to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to our expectations with respect to: the timing and outcome of the transaction with Oryx, including any financing to be completed in connection with the completion of the transaction; the anticipated benefits of the Oryx transaction to the parties and their respective security holders; impact of the Oryx transaction and anticipated growth of the combined entity, including potential size and growth of the gaming industry in the UK and globally; and the anticipated launch of GIVEMEBET and its potential impact on the Company. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. In respect of the forward-looking statements and information concerning the anticipated benefits and completion of the Oryx transaction and the anticipated timing for completion of the Oryx transaction, Breaking Data has provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare and mail security holder meeting materials; the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory and shareholders approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Oryx transaction, including any financing to be completed in connection with the Oryx transaction; and other expectations and assumptions concerning the Oryx transaction. There can be no assurance that the Oryx transaction will occur, or that it will occur on the terms and conditions contemplated in this news release. The Oryx transaction could be modified, restructured or terminated. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the operations or financial results of the parties are included in reports on file with applicable securities regulatory authorities.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Breaking Data does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Completion of the Oryx transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Oryx transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Oryx transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the Oryx transaction, any information released or received with respect to the Oryx transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Breaking Data should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
