SeanieMac Online Gambling Financial Viability Threatened

Published Saturday, August 20, 2016 -
SeanieMac Online Gambling Financial Viability Threatened

The SeanieMac online wagering focus is to provide a market-leading, user-friendly website for online gambling, including sports betting and casino gaming traditional casino, live casino, poker, bingo and interactive skilled games. The Ireland based New York listed gaming firm SeanieMac intends to capture the Irish market by initially targeting the Gaelic Athletics Association (GAA) or Gaelic Games as well as Irish horse racing and soccer.

Last April 2016 Apollobet UK and owners SeanieMac announced the firm had secured a deal to be an official sponsor of The British Horse Racing Authority (BHA). ApollobetUK/ SeanieMac have agreat opportunity to be recognized by the over 6 million racing fans at the events of what is the second largest spectator sport in Great Britain.The companies also expect to be noticed by millions of broadcast viewers throughout Europe who will be exposed to the firms logos and adverts.

In a short time though the company SeanieMac has run into some cash flow problems with the recent report in a trading update revealing that online gambling operator SeanieMac which bought Apollo Betting earlier this year, said it needs more money to pay for additional operational expenses. SeanieMac said it had “not entered into any agreements with anyone for any future loans”.

The company said its current cash position is not sufficient to fund its anticipated cash requirements over the next year. A statement from the firm said, “In the event we are unable to borrow funds needed for our business, or we are unable to repay our current obligations when due, we will have to seek additional financing, and no assurances can be given that such financing would be available on a timely basis, on terms that are acceptable or at all.

“Failure to obtain such additional financing could result in our inability to operate our website which represents our sole business and would materially adversely affect our business, results of operations and financial condition and threaten our financial viability.”



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