SeanieMac Ltd. Surges Forward with Significant Turnover Milestone
SeanieMac Ltd. (OTCBB: BETS), an Irish gaming company, has recently announced reaching an impressive annualized turnover milestone, marking a significant moment in the company’s growth. At the close of their first week utilizing a new platform, the company reported an annualized turnover of $12,000,000. With ambitious objectives set forth, the company aims to double this figure to $24,000,000 in November and subsequently increase it to $48,000,000 by December. The achievement of these targets would enable the company to become cash flow positive on a monthly basis, which would facilitate the use of internal capital and a credit facility to bolster further expansion.
In its pursuit of growth, the company is in the process of finalizing a Line of Credit, with closing documents already in the hands of its counsel. Both SeanieMac Ltd. and the lender are working towards a November closing date, which is contingent upon the final underwriting approval. This financial development is a key component of the company’s strategy to scale its operations and improve its service offerings.
SeanieMac operates SeanieMac.com, an online sports and casino wagering platform that provides a diverse array of betting options to its users. While the platform offers wagering across various categories, the company has strategically chosen to concentrate on Gaelic Athletics Association (GAA) or Gaelic Games, as well as Irish horse racing and soccer. This focus is designed to capture the Irish market, where these sports are not only an integral part of the culture but are also experiencing increasing international popularity, especially in areas with a strong Irish diaspora.
The company’s mission is to offer a user-friendly interface for online gambling, encompassing sports betting and a range of casino gaming options, including traditional casino games, live casino, poker, bingo, and interactive skilled games. SeanieMac has made a clear stance that it does not target US residents and actively discourages them from using its wagering services.
The Irish gambling industry has demonstrated robust performance, with an estimated revenue of approximately $18.7 billion in 2011, and online gambling contributing $1.7 billion to this figure. Projections at the time suggested that the Irish online gambling sector was on track to grow to $3.2 billion in 2012. With Gaelic Games being a national pastime, SeanieMac’s focus on these sports is a calculated move to tap into both the local and expanding international markets.
The recent turnover milestone achieved by SeanieMac Ltd. is indicative of the company’s upward trajectory and dedication to broadening its footprint in the online gambling industry. By concentrating on popular Irish sports and delivering a comprehensive online betting experience, the company is solidifying its value proposition to its user base. As the company forges ahead with its strategic plans, it stands to reinforce its position in the market and fulfill its mission of providing premier online gambling services.
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