SING SEATTLE, WA--(Marketwired - Nov 24, 2015) - SinglePoint, Inc. (OTC: SING) announces today great strides in its previously announced sports fantasy roll up acquisition strategy. SinglePoint has received tremendous response from Sports Fantasy Groups since the announcement last week that Sports guru Darren Heitner and his Dynasty Dealings are working with SinglePoint to identify and negotiate acquisition targets in the Daily Fantasy Sports (DFS) sector toward an overall roll up merger.
In addition, every candidate SinglePoint has been introduced to is interested in the Company's proprietary pay-by-text and processing capabilities.
Dynasty is a Sports Consulting company that works to revolutionize the sports and entertainment industries and it has already secured advanced discussions with a potential acquisition target with which SinglePoint now has an NDA and initial terms toward a win-win negotiation.
Lambrecht comments, "We couldn't be more impressed with Darren's influence and reach in this unique sector. It was our hope to secure tangible targets in the near term, but within the first week has exceeded our own expectations. I'm thrilled with the prospect of shareholders owning a piece of this world. SinglePoint's mobile technology is a perfect match for the sports fantasy industry. We are cultivating something here toward exponential shareholder value in a sector I believe is both exciting and profitable."
Recent legislative moves, such as the Cease and Desist by New York Attorney General to multi-million dollar companies DraftKings and FanDuel have caused some to wonder about the viability of the industry, but the SinglePoint Board of Directors are confident that though this may end up affecting a handful of states, it's nothing but good news in regards to the roll up strategy.
"Companies are looking for alternatives, flexibility," states Lambrecht. "Moving the companies into a public entity like SinglePoint gives them the upside in an exit strategy many may be seeking and this is reflected in our conversations with acquisition candidates. I am confident that DFS will continue to thrive legally and the Board is willing to make that bet accordingly toward increased shareholder value. The data capture in DFS membership information alone will be a worthwhile asset for SinglePoint regardless of the overall future of the industry."
Many bills propose to allow DFS to be under the oversight of the State Gaming Commissions, such as Senator Michael Ranzenhofer's bill in New York, which seeks to exempt DFS from the Gambling Code.
In addition, every candidate SinglePoint has been introduced to is interested in the Company's proprietary pay-by-text and processing capabilities.
Dynasty is a Sports Consulting company that works to revolutionize the sports and entertainment industries and it has already secured advanced discussions with a potential acquisition target with which SinglePoint now has an NDA and initial terms toward a win-win negotiation.
Lambrecht comments, "We couldn't be more impressed with Darren's influence and reach in this unique sector. It was our hope to secure tangible targets in the near term, but within the first week has exceeded our own expectations. I'm thrilled with the prospect of shareholders owning a piece of this world. SinglePoint's mobile technology is a perfect match for the sports fantasy industry. We are cultivating something here toward exponential shareholder value in a sector I believe is both exciting and profitable."
Recent legislative moves, such as the Cease and Desist by New York Attorney General to multi-million dollar companies DraftKings and FanDuel have caused some to wonder about the viability of the industry, but the SinglePoint Board of Directors are confident that though this may end up affecting a handful of states, it's nothing but good news in regards to the roll up strategy.
"Companies are looking for alternatives, flexibility," states Lambrecht. "Moving the companies into a public entity like SinglePoint gives them the upside in an exit strategy many may be seeking and this is reflected in our conversations with acquisition candidates. I am confident that DFS will continue to thrive legally and the Board is willing to make that bet accordingly toward increased shareholder value. The data capture in DFS membership information alone will be a worthwhile asset for SinglePoint regardless of the overall future of the industry."
Many bills propose to allow DFS to be under the oversight of the State Gaming Commissions, such as Senator Michael Ranzenhofer's bill in New York, which seeks to exempt DFS from the Gambling Code.
