FansUnite Entertainment CEO Scott Burton recently shared a corporate update regarding the 2023 fiscal year. Burton said that he wanted to provide “comprehensive update on the performance and trajectory of FansUnite.”
He commented, “Despite the widespread business and macro-economic challenges experienced by many businesses this year, FansUnite has remained resilient and has taken the necessary steps to ensure the company's future.”
Burton explained that FansUnite’s approach to combatting economic downturn involved a companywide comprehensive restructuring plan.
“This initiative was aimed to optimize our operations, streamline processes, and align our resources within the dynamic market landscape,” Burton said.
“The unwavering commitment displayed by our team has played a pivotal role in our successful turnaround. This restructuring plan has also led to the divestment of a number of our assets deemed to be non-core to our future business.”
As part of the restructuring, the company sold several assets including Betprep, McBookie Ltd and the Chameleon Gaming Platform.
Burton took a moment to also discuss the company’s current financial state and said because of the stability it has achieved this year, FansUnite can move into 2024 with a focus on its core objectives.
He concluded by saying, “Despite prevailing economic uncertainties, I am pleased to confirm that FansUnite currently stands in a financially stable position. The combination of positive cash flow and judicious financial management has removed the need for us to seek new capital injections at this time.
“This financial autonomy allows us to concentrate on our core objectives without the encumbrance of fundraising activities.”
