The Value Of Gambling in Ireland Reaches 3 Billion Euros Per Year
It was not that long ago that Paddy Power traded at the same stock price as COPI: The closest competition to COPI is Paddy Power: Online and land-based gambling operator Paddy Power has unveiled its preliminary financial results for 2012 showing a 25 percent year-on-year rise in net revenues in constant currency to 653.8 million Euros. Dublin-based Paddy Power revealed that the twelve months to 2012 saw it post improved revenues from every division while total amounts staked improved by 19 percent year-on-year in constant currency to 5.69 billion Euros. The Irish firm posted operating costs for 2012 of 417.6 million Euros including 20.5 million Euros for the initiation of four new online ventures, which was an increase of 31 percent when compared with 2011 in constant currency, although its operating profit rose by six percent year-on-year to 136 million Euros. Compliance Systems Corp. 780 New York Avenue, Suite A Huntington, NY 11743 Phone: 516-674-4545 www.seaniemac.com A New Audio Interview With Shane O'Driscoll, Co-Founder and Deputy CEO of SeanieMac Limited, is Now at SmallCapVoice.com PROFILE: Compliance Systems Corp, doing business as SeanieMac Limited, is the parent company of the all-Irish online sports and casino wagering web-based platform serving gamblers directly under the brand name SeanieMac.com. Launching wagering operations next month, it is the only full-service online betting website that is Irish owned and focused on the underserved Irish market, Irish bettors and Irish sports book. Based in Dublin, Ireland, SeanieMac features and is closely and clearly connected with the Gaelic Athletic Association’s (GAA) Gaelic Games, a major competitive advantage that provides instant, dominant brand recognition comparable to the U.S.’ NFL (www.gaa.ie). Rapidly Growing Online Irish Gambling Market of 3.2 Billion Dollars In 2011 the Irish gambling industry generated 18.7 billion dollars in revenue with approximately 1.7 billion dollars being produced online; in 2012 online revenues are expected to grow to 3.2 billion dollars and continue growing rapidly at double-digit rates. Competitive Advantage of McEniff Name and GAA The McEniff name offers immediate household recognition in Ireland. Former GAA All-Star Brian McEniff is the founder of Brian McEniff Hotels, a figure equivalent to Donald Trump in the U.S. His son and former Irish GAA athlete, Sean McEniff, is Chairman of SeanieMac. As a principal of Brian McEniff Hotels, Sean brings more than 20 years of successful hospitality industry sales and marketing experience. Gaelic Games Growing in Appeal The Gaelic Games, a popular Irish pastime, are gaining worldwide appeal, especially in areas with large communities of Irish emigrants and their descendants, such as U.S., Canada, Australia and the UK. By branding as the leading online gambling website for the GAA, marketing to Irish citizens and those of Irish descent, SeanieMac is well positioned to capture market share. Strong Growth Prospects SeanieMac intends to capture 1% to 2% of the Irish market by 2H 2013 and be cash flow positive by the end of the year. Highly Scalable, Efficient Business Model SeanieMac has partnered with Boylesports, one of Europe’s leading online independent bookmakers with 2012 gross revenue estimated over 1 billion dollars, to provide the complete SeanieMac-branded online betting platform along with full back and front office support, customer service and marketing - a joint venture turnkey operational solution. This allows SeanieMac to focus solely on marketing the brand, and enables it to scale up operations quickly and efficiently. Once overhead is covered, margins are high and profits scale. Seasoned, Irish Management Team. The Company is building a team of industry veteran managers with strong sales, marketing and PR experience. VALUE PROPOSITION:
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- Since 2003, the online gambling sector has grown an annual average of 23%, compared to 15% for the broader industry.
- Irish online gambling revenues are estimated at 3.2 billion dollars for 2012 and expected to grow to 6.5 billion dollars in 2015 and 9.8 billion dollars by 2020.
- SeanieMac is well positioned to become the only full-service online betting website that focuses on the Irish market, Irish bettors and Irish sports, such as the Gaelic Games (GAA), Ireland’s equivalent of the NFL.
- Targets capturing 1% to 2% of the Irish market by 2H 2013.
- Positive cash flow targeted by year end 2013.
- Streaming rights for GAA’s in- season games worldwide, ability to offer “in-play” betting, sets SeanieMac apart from peers.
- JV with Boylesports, an internet gambling industry leader, for private labeled online platform, marketing, front and back office support.
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