News!
SinglePoint, Inc. Announces Senate Approval of Daily Fantasy Sports Bill; Predicts DraftFury to Become Top Player in Multi-Billion Dollar DFS Market
SinglePoint, Inc.
27 minutes ago
SEATTLE, WA--(Marketwired - Jun 28, 2016) - 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.
Going a lot higher people!
