|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
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
Dec. 22, 2014 06:30 AM EST Reads: 962
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
Dec. 22, 2014 06:00 AM EST Reads: 921
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
Dec. 22, 2014 05:00 AM EST Reads: 1,322
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
Dec. 21, 2014 07:00 PM EST Reads: 964
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 21, 2014 06:00 PM EST Reads: 2,042
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Dec. 21, 2014 02:00 PM EST Reads: 2,387
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 21, 2014 01:00 PM EST Reads: 2,011
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Dec. 21, 2014 11:30 AM EST Reads: 2,427
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Dec. 21, 2014 11:00 AM EST Reads: 2,016
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Dec. 21, 2014 11:00 AM EST Reads: 1,989
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Dec. 21, 2014 10:00 AM EST Reads: 2,066
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
Dec. 21, 2014 10:00 AM EST Reads: 2,163
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Dec. 21, 2014 08:30 AM EST Reads: 2,298
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
Dec. 21, 2014 06:30 AM EST Reads: 2,009
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Dec. 20, 2014 11:00 PM EST Reads: 1,391
AppZero has announced that its award-winning application migration software is now fully qualified within the Microsoft Azure Certified program. AppZero has undergone extensive technical evaluation with Microsoft Corp., earning its designation as Microsoft Azure Certified. As a result of AppZero's work with Microsoft, customers are able to easily find, purchase and deploy AppZero from the Azure Marketplace. With just a few clicks, users have an Azure-based solution for moving applications to the...
Dec. 20, 2014 09:00 AM EST Reads: 1,053
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 20, 2014 08:00 AM EST Reads: 1,399
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Dec. 20, 2014 05:00 AM EST Reads: 1,371
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 19, 2014 11:45 PM EST Reads: 1,389