The holding company of Aliso Viejo-based startup FantasyAces LLC posted big growth figures in several key metrics, according to some of its first regulatory filings as a public company.
The daily fantasy sports site, listed on the Toronto Stock Exchange as Fantasy Aces Daily Fantasy Sports Corp., increased deposits in September and October 268% to $984,000 compared to the same two months a year earlier. Game entries rose 345% to 343,000; revenue increased 534% to $317,000; and prize payouts rose 567% to $4.1 million.
The company, like others in the booming sector, is on a marketing blitz, spending $214,600 on advertising and promotions in the September quarter. But unlike big-name competitors—DraftKings, FanDuel and Yahoo—FantasyAces has avoided the ire of the New York Attorney General’s Office, which has sought to shut down the three largest players in the Empire State, contending the contests aren’t games of skill and are thus illegal under federal law. A judge late last week ruled that DraftKings and FanDuel can’t do business in the state.
New York, which has the most daily fantasy sports players in the country, according to Eilers Research LLC in Anaheim Hills, approved the sites—in some cases years ago—but recently changed its stance as the industry exploded.
FantasyAces, which provides daily and weekly fantasy sports games for the NFL, NBA, NHL, MLB, college football and PGA, will add two sports next year.
The company reported a net loss of $627,000 in the September quarter, up over a net loss of nearly $14,000 a year earlier. It cited the growing loss to ramping up the business as it seeks a foothold in one of the hottest segments in the entertainment industry.
It’s expected to “continue to show losses for the current year as it grows its membership base,” according to a recent filing.
Energy Firm Enters OC
A fast-growing Texas energy service provider has opened an office in Lake Forest in its first expansion outside the Lone Star State.
Global Efficient Energy LLC founder Abe Issa was attracted to the region’s size, eco-conscious mindset, and proximity to hotter areas in the Inland Empire that are potentially more receptive to installing energy-efficient systems.
“Those are prime for us, going in and fixing the attics, making homes more comfortable,” said Issa. “We’re going to ramp up the business after the holidays.”
The boot-strapped company was established in 2011 and projects sales of about $28 million this year through a host of offerings, including solar, insulation, surge protectors, LED lighting, and home management systems. A typical house upgrade costs $12,000 to $25,000, with tax credits and no-money-down financing available, according to Issa.
Global Efficient Energy employs about 10 in Lake Forest and 275 companywide.
Bits & Pieces
Cyber Monday sales topped $3 billion for the first time, according to Adobe’s Digital Index.
Online sales on the busiest e-commerce day of the year hit nearly $3.1 billion, up more than 16% over last year. … Fountain Valley-based D-Link Systems Inc. released a smart-home switch with a camera under the newly created Komfy brand. The device—which features temperature, humidity and air-quality monitoring, plus local and cloud recording—is D-Link’s latest diversification effort to gain market share in the smart-home segment. The product costs $300.
