|By Marketwired .||
|February 11, 2013 08:30 AM EST||
HUNTINGTON, NY -- (Marketwire) -- 02/11/13 -- Compliance Systems Corp (OTCQB: COPI), doing business as SeanieMac Limited, parent company of the all-Irish online sports & casino wagering website www.SeanieMac.com, today issued the following Special Letter to Shareholders from its Chairman of the Board of Directors and Co-Founder Sean McEniff.
SeanieMac Limited's recent successful transition to a publicly traded company was a major milestone in our company's history. I would like to welcome all of our new shareholders, and take this opportunity to discuss our position, strategy and goals for 2013.
We are preparing to launch our new, online wagering website, www.SeanieMac.com. It is the only full-service online betting website that is Irish owned and focused on the underserved Irish market, Irish bettors and Irish sports book featuring the Gaelic Athletic Association's (GAA) Gaelic Games -- a powerful differentiator. Based in Dublin, Ireland, SeanieMac is closely and clearly connected with the GAA, which provides instant, dominant brand recognition comparable to the U.S.' NFL. The Irish gambling industry generates $18.7 billion in revenue with approximately $3.2 billion being produced online and growing rapidly at double digit rates.
While our website is now online, we plan to go live with actual wagering operations next month supported by a major, nationwide public relations and multi-faceted advertising campaign.
We have an efficient business model that uses a highly regarded online gambling software platform, so that all back office and customer service functions will be provided through a joint venture with an industry leader. This enables us to focus on the sales and marketing of the SeanieMac brand. We are confident of quickly capturing market share.
The SeanieMac Beginning
There is much overlap between the hospitality and gambling industries as is clear in the U.S. with its integration of hotels and casinos. Over the last 20 years, I've built a successful hotel business as a principal in Brian McEniff Hotels, which owns eight resorts throughout Ireland. Relatively speaking, the McEniff name in Ireland would be considered the equivalent of the Trump name in the United States.
Although I had a minor sports career in the GAA in the '80s, you are more likely familiar with my father, Brian McEniff (the hotel company's namesake). He had an illustrious GAA sports career that began by being named to the GAA All-Star Football Team in the '70s and, early in his career as manager, leading Donegal to its first All-Ireland Senior Gaelic football title in 1992 -- the Irish equivalent of winning the U.S. Super Bowl. Today, he is widely regarded as the senior statesman of GAA football.
While there is no affiliation between Brian McEniff Hotels and SeanieMac, with my many years of successful experience in the hotel business I am confident the opportunity and timing are right to launch SeanieMac and capitalize on the underserved online Irish sports gambling market. My expertise in the hotel industry is sales, marketing and public relations and SeanieMac is, at its core, a sales and marketing company.
For the benefit of our U.S. shareholders, I will note that while Gaelic Games are actively played in leagues in U.S. cities such as Boston, online gambling is not legal in the United States and we do not market to or serve the U.S.
$3.2 Billion, Fast Growing Irish Online Gambling Market
Industry analysts report global online gambling revenues currently total $32 billion, and are expected to grow 52% to reach $46.1 billion by the end of 2015. Clearly, this is a vast marketplace with strong growth.
Online gambling is quickly becoming a key driver in the gambling industry as a whole. Since 2003, the market has grown by an annual average of 23%, while the gambling industry as a whole grew an average of 15% during the same time period. Sports betting is the strongest category of online gambling, representing 41% of the market's overall value.
The total gambling industry in Ireland is estimated at $18.7 billion in gross revenue in 2011. Its gross revenues from online gambling reached $1.7 billion in 2011, or approximately 5% of the global market. According to the Irish Examiner, the Irish online gambling market is estimated at $3.2 billion in 2012. Extrapolating industry growth as a whole on the Irish market, Irish online gambling is expected to grow to $6.5 billion in 2015 and reach $9.8 billion by 2020.
Gaelic Games Growing in Appeal
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 emigrants 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. Traditional Gaelic Games include Hurling, Shinty and Gaelic Football. To learn more about the GAA, see www.gaa.ie.
Competitive Advantage: McEniff and the GAA
SeanieMac is well positioned to become the only full-service online betting website that focuses on the Irish market, Irish bettors and Irish sports, such as the Gaelic Games. We are targeting the Irish market where the McEniff family name ensures instant brand recognition, as well as credibility and quality.
For our American shareholders, can you imagine if the NFL's Joe Namath, John Elway and Joe Montana all did televised, web-based and print endorsements of an online gambling site focused on betting on NFL games? We have assembled an impressive roster of "A-list" Gaelic Games former athletes for endorsements, starting with Larry Thompkins, who is considered the Irish equivalent to the NFL's John Madden.
The Irish are, by nature, nationalistic and incredibly loyal to their local and regional sports teams and sports heroes -- all wrapped in a positive spirit of healthy competition. One friendly wager I can make with you is that, if you come to Ireland, you will find the passion of the Irish people for Gaelic Games and its star athletes far surpasses anything you have ever seen in the American NFL football. We will roll out the names of the other GAA superstar athletes in the weeks ahead as we prepare a mass-market advertising and public relations blitz next month to support our operational launch.
Our GAA relationships enable us to secure streaming rights, through seaniemac.com, of GAA's in-season games worldwide, as well as the ability to offer in-play GAA betting, which distinguishes the Company from its closest competitors. Our initial product offering features sports betting, the largest and most well-known industry segment. We will also offer a full range of both traditional and live casino games, poker, roulette, blackjack, baccarat and other skilled and interactive games such as bingo.
Our upcoming launch and marketing strategy for 2013 will also feature competitively better than average odds for bettors, and special bets and promotions which we know to be a major draw, helping to build brand loyalty.
Highly Scalable Growth Strategy
As a purely online business, SeanieMac has no cost of goods, inventory or shipping. All of the odds and risk management are managed by sophisticated software and have been market tested. Once our overhead is covered, margins are extremely high and profits can grow quickly.
Our target market includes bettors in Ireland and the UK, and Irish expatriates & descendants in the United Kingdom that bet online through mobile devices, pub affiliates and by phone, on sports, casino games, and poker. Once we have captured significant share of this market, we will begin expanding our offerings to include sports such as darts, cricket, rugby and boxing.
SeanieMac intends to partner with an online gambling industry leader, BoyleSports, one of the UK's leading independent bookmakers. It will provide us the complete SeanieMac-branded online betting platform along with full back office support and top quality front office customer service. This leaves us with low overhead and operating expenses while greatly reducing our technological and operational risk. Through BoyleSports, we plan to license OpenBet's software, renowned as the Internet gambling industry's leading software with the best user experience.
SeanieMac 2013: Betting on Success
Our business plan envisions an aggressive operational launch shortly and sets an ambitious agenda for 2013. Our goals include:
- Capture one to two percent of $3.2 billion Irish online gambling market share. One in three Irish adults wager regularly, 50 Euros per week (about $65) on average. To achieve just our one percent target, we need only convert 10,000 bettors, or two tenths of one percent of the entire Irish population.
- Reach positive cash flow. We target reaching positive cash flow in the second half of 2013.
- Build our management team. We have a strong team in place initially, having recently announced two members of our Board of Director. We plan to add veteran industry executives to management, the Board of Directors and an Advisory Board commensurate with our expansion.
- Stay at forefront of technology. We plan to grow and evolve our technology to capitalize on the latest innovation ensuring the most robust offering for our customers. Part of this strategy includes producing a mobile device app that will enable our customers to wager from smart phones and tablets.
- Raise growth capital. As a public company, we have a lower cost of capital. When the time is right, we will raise capital to fund growth.
- Aggressive Marketing Strategy. In addition to the multi-media blitz planned for our March launch, our marketing campaigns will include social and conventional media, TV, radio, print, web-based and public relations, advertising and cooperative marketing.
- Form Strategic Alliances. These may include joint ventures, acquisitions and co-marketing agreements with key hospitality, pub, travel, tourism and other associated industry companies.
- Communicate Proactively. We will implement an investor relations program to keep our shareholders informed and to communicate proactively with Wall Street.
As a newly public company, we have raised our visibility and increased our opportunities for growth. It is a privilege to lead this company into what I strongly believe to be an exciting and rewarding future.
Chairman of the Board of Directors
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
At the Company
Chief Executive Officer
(866) 692-6847 Toll Free - U.S. & Canada
Cryptography has become one of the most underappreciated, misunderstood components of technology. It’s too easy for salespeople to dismiss concerns with three letters that nobody wants to question. ‘Yes, of course, we use AES.’ But what exactly are you trusting to be the ultimate guardian of your data? Let’s face it – you probably don’t know. An organic, grass-fed Kobe steak is a far cry from a Big Mac, but they’re both beef, right? Not exactly. Crypto is the same way. The US government require...
May. 23, 2015 12:00 AM EDT Reads: 3,665
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT transformation?
May. 23, 2015 12:00 AM EDT Reads: 4,022
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
May. 22, 2015 11:30 PM EDT Reads: 2,261
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
May. 22, 2015 11:30 PM EDT Reads: 1,488
MeriTalk, a public-private partnership focused on improving the outcomes of government IT, today announced the results of its new report, "The Agile Advantage: Can DevOps Move Cloud to the Fast Lane?" The study, underwritten by Accenture Federal Services, reveals that approximately two-thirds of Feds say DevOps will help agencies shift into the cloud fast lane - improving IT collaboration and migration speed. But help is needed, with 66 percent saying that their agency needs to move IT services ...
May. 22, 2015 11:00 PM EDT Reads: 1,527
Red Hat, Inc. has announced Red Hat JBoss Enterprise Application Platform (JBoss EAP) 6.4 and introduced expanded benefits for JBoss EAP subscribers deploying their Java applications in hybrid cloud environments. Enterprises are under pressure to deliver new applications fast; however, many factors, including rigid proprietary stacks, inflexible licensing agreements, and cultural silos in IT can prevent enterprises from achieving the agility they need to stay competitive. Enterprises are incre...
May. 22, 2015 11:00 PM EDT Reads: 1,512
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
May. 22, 2015 08:45 PM EDT Reads: 1,137
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
May. 22, 2015 08:00 PM EDT Reads: 1,730
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
May. 22, 2015 07:00 PM EDT Reads: 5,588
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
May. 22, 2015 06:00 PM EDT Reads: 2,031
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
May. 22, 2015 06:00 PM EDT Reads: 3,858
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 22, 2015 05:30 PM EDT Reads: 3,758
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 22, 2015 05:00 PM EDT Reads: 1,407
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
May. 22, 2015 05:00 PM EDT Reads: 2,080
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
May. 22, 2015 05:00 PM EDT Reads: 1,541
Hybrid IT is an approach to delivering IT services that matches business requirements and application needs with different IT deployment modalities. In their session at 16th Cloud Expo, Jeff Katzen, Director of the Cloud Practice at CenturyLink, and Gary Sloper, Area Vice President, Sales Engineering and Operations, at CenturyLink, will go into more depth around those different modalities and how customers have made decisions to choose between them. They will talk to some of the challenges t...
May. 22, 2015 04:45 PM EDT Reads: 1,419
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
May. 22, 2015 04:00 PM EDT Reads: 2,862
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
May. 22, 2015 03:00 PM EDT Reads: 1,522
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
May. 22, 2015 03:00 PM EDT Reads: 3,999
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 22, 2015 02:30 PM EDT Reads: 881