Monday, 23 February 2015 08:55 AM
Huntington, NY / ACCESSWIRE / February 23, 2015 / SeanieMac International Ltd. announced that in an effort to maximize shareholder value it will seek shareholder approval to reduce its authorized shares from 2,000,0000 to 850,000,000.
Shane O'Driscoll CEO "With the recent conversions of debt and with our anticipated credit facility we wanted to set a reasonable upper limit on the number of shares than can be issued. We have left what we believe is a substantial reserve and do not intend to automatically issue shares equal to our authorized amount."
SeanieMac International, Ltd. an Irish gaming company, owns and operates www.SeanieMac.com, an online sports and casino wagering platform.
Besides offering casino wagering, SeanieMac is prepared to capture the Irish Sports market focusing on the Gaelic Athletics Association (GAA) or Gaelic Games as well as Irish horse racing and soccer. The Company continues to provide a market-leading, user-friendly website for online gambling, including sports betting and casino gaming (traditional casino, live casino, poker, bingo and interactive skilled games).
The Irish gambling industry generated approximately $23.7 billion in revenue in 2014, with $2.3 billion of that amount generated online. The Irish online gambling sector is projected to reach $4 billion in 2016.
As its national pastime, the Gaelic Games have long been popular in Ireland but they are gaining worldwide appeal, especially in areas with large communities of Irish heritage and their descendants, such as the U.S., Canada, Australia and the United Kingdom, where many communities have their own teams and clubs participating in the Gaelic Leagues locally and internationally. To learn more about the GAA, see www.gaa.ie.
Safe Harbor Statement
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Seaniemac International, Ltd. and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements regarding our expectations regarding amounts staked and gross profits and our marketing initiatives. Such risks and uncertainties include, among other things, the uncertainty regarding consumer preferences, a decline in the popularity of our website and competition in the online gambling industry. Seaniemac assumes no obligation and does not intend to update these forward-looking statements.
A further description of risks and uncertainties can be found in SeanieMac International, Ltd.'s annual report on Form 10-K for the fiscal year ended December 31, 2013, its quarterly reports on Form 10-Q and its current reports on Form 8-K, each as filed with or furnished to the Securities and Exchange Commission.
Investor Relations
Chuck Arnold
(310) 344-7073
[email protected]
At the Company
Barry Brookstein
Chief Executive Officer
(516)369-7104
SOURCE: SeanieMac International Ltd.