In 2014, an estimated 57 million Americans participated in fantasy sports, and strong growth is expected to continue in the years to come. By 2016, industry reports estimate that fantasy sports could account for as much as $10 billion annually, as the popularity of daily fantasy games continues to expand. Latitude 360, Inc. (OTCQB: LATX), through its pending acquisition of Major League Fantasy, is in a strong strategic position to capitalize on this market performance, building on the success of its innovative upscale dining and entertainment venues.
The daily fantasy sports boom is led by established market players, such as DraftKings and FanDuel, and the movement is rapidly spreading. Yahoo (YHOO), a leader in more traditional seasonal fantasy sports, recently launched its first ever daily format, and more than 55 million people throughout North America participated during its first year. Latitude 360 is entering the daily fantasy sports market at the apex of a surge in popularity, and the company’s innovative plans to improve upon the current formula could give it an edge as it begins to enter new markets around the country.
Fantasy athletes at Latitude 360’s award-winning locations will be treated to the full host of amenities on offer as part of the company’s ‘360 Experience’ – including a comedy club, cigar lounge, live performance theater, luxury bowling lanes, dine-in movie theaters and more. Additionally, the company plans to offer high-stakes fantasy games in its exclusive VIP ‘Black Rooms’, which will have entry fees ranging from $250 to $25,000 and an enhanced viewing experience for players and spectators that will be second-to-none. By offering brand new game modes, real-time experiences, daily featured prize contests and interactive tools not available on any daily fantasy sites or apps, Latitude 360 will look to rapidly expand its share of the booming fantasy market.
“With our recent partnership and pending acquisition of Major League Fantasy, we’ve… made a sizeable entrance into the multi-billion dollar sports fantasy market,” Brent Brown, chief executive officer of Latitude, stated in a news release. “The combination of our upper-scale sports watching experience in our venues coupled with the ability to participate in daily fantasy sports we see as something our sports fan patrons will definitely enjoy when they come to visit our locations.”
Upon release, Latitude 360’s innovative take on daily fantasy sports is expected to be available at all of the company’s dining and entertainment venues nationwide – including current locations in Jacksonville, Pittsburgh and Indianapolis – as well as planned, additional venues under development. For prospective shareholders, the company’s continued refinement and expansion of its proven ‘360 Experience’ could provide a platform for rapid financial growth in the months to come.
For more information, visit www.latitude360.com/corporate/investor-relations/
Let us hear your thoughts: Latitude 360, Inc. Message Board