SinglePoint, Inc. Announces Senate Approval of Daily Fantasy Sports Bill; Predicts DraftFury to Become Top Player in Multi-Billion Dollar DFS Market
SEATTLE, WA -- (Marketwired) -- 06/28/16 -- SinglePoint Inc. (OTC: SING) is thrilled to announce that the New York Senate has approved a bill toward Governor Cuomo's signature. The law becomes immediately effective upon signature and Cuomo is expected to sign within 10 days from receiving the bill, which was approved at 3pm EDT, Friday, June 17th.
Colorado, Indiana, Missouri, Mississippi and Virginia have passed laws to solidify fantasy sports' legality, and Massachusetts has issued regulations for the industry.
"This is terrific news for all of us involved in the DFS industry," proclaims SinglePoint CEO Greg Lambrecht, who recently moved forward on behalf of SinglePoint shareholders to acquire a stake in DraftFury, one of the most profitable companies in the DFS space.
"DraftFury was our inaugural transaction in this market and one we maintain will become a powerhouse player in the industry given their one-of-a-kind referral program and a consistent year-over-year growth in user base numbers, prize pools and overall revenues."
He adds, "I believe this is a significantly undervalued company in the DFS space and SinglePoint is proud to have ownership in this enterprise as we continue to cultivate relationships toward additional acquisitions in the space. DraftFury is well on its way to becoming one of the top players in the industry alongside DraftKings, FanDuel, and Yahoo. Likewise, SinglePoint stock has seen steady, organic growth over the last 6 weeks and we expect that growth to continue."
DraftFury has also initiated development of a dynamic new mobile application which is expected to give them an additional competitive edge in the space, aligning them with larger players and creating opportunities for a significant increase in user base.
RotoGuys.com, a well respected fantasy sports review site, opines that the DraftFury brand is poised to make a positive impact on the industry. Positioning itself as a player experience first company, DraftFury is making great strides when it comes to providing the customers what they want from a daily fantasy sports platform. Boasting one of the most optimized user interfaces available, improved lineup manageability, live lineup performance monitoring and everything else one could ask for in a daily fantasy sports network there is little reason not to sign up and play on DraftFury.
SinglePoint Inc. began as a full-service mobile technology and marketing provider. Through diversification of its own model into horizontal markets, SinglePoint recognized the strength in acquiring interest in undervalued subsidiaries in other markets, such as Daily Fantasy Sports, to create a diversified holding base. We are currently exploring the benefits of taking controlling interests in undervalued cash-flow positive, yet high potential companies and assets where we have the ability to be active and influence strategy and direction.
DraftFury is a U.S. based company that offers skill-based NBA, NFL, and MLB daily fantasy sports (DFS) contests. DraftFury makes DFS accessible to new and casual players and enhances the experience for existing DFS enthusiasts through the simple Pick'Em format, skill-based matching in Fury Arena, and other proprietary innovations. DraftFury's 7-Level Referral Program generously rewards marketing affiliates for promoting the fun and excitement of DraftFury's contests. DraftFury's user base, prize pools, and revenues continue to trend upwards on a month-to-month basis while a mobile app, eSports, and new site features are all planned additions for the near future. https://www.draftfury.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Source: SinglePoint, Inc.
Released June 28, 2016