Gunsynd upbeat on developments at investee Low6

10th Oct 2023 12:01

(Sharecast News) - Gunsynd updated the market on its investee company Low6 on Tuesday, which had reported unaudited revenue just shy of £1m for the quarter ended 30 September.

The AIM-traded firm said that was a significant milestone for Low6 and a promising boost compared to the audited revenue of £0.85m recorded for the prior financial year, which ended 30 June 2022, despite a loss of £18.35m before tax.

It said the upward trajectory seen in the quarter was expected to persist through the second quarter of its financial year ending 30 June next year.

Gunsynd noted that Low6 had navigated through a request for proposal (RFP) process with OPTA Stats Perform - a formidable entity in sports data.

The partnership pivoted on launching various games crafted around Premier League statistics, synergising data analytics with gaming.

Additionally, Low6 had launched products in collaboration with Oddschecker in tandem with the onset of the new English Premier League season, broadening its product outreach and market penetration in the gaming industry.

Cementing its presence in the North American market, Low6 also inked a substantial contract extension with Rush Street Interactive.

"The company invested approximately £265,000 in Low6 and holds 0.66% of Low6's issued share capital," Gunsynd's board confirmed in its statement.

Reporting by Josh White for Sharecast.com.