SportsHero Limited (ASX: SHO) develops mobile application software. The Company offers a sports gaming platform that enhances the prediction program across football and cricket. The company also provides technology development and marketing services. SportsHero serves customers in Australia and Singapore.
The company stated through a release on the exchange that it is very excited to announce the launch of its new rugby union prediction platform. The first phase of the company’s rugby prediction platform will target fans of the Super Rugby competition, held across Australia, New Zealand, South Africa, Argentina and Japan. The second phase plans to focus the high-profile Rugby 7’s, followed by the 2019 Rugby World Cup, which is held every four years and will be hosted in Japan In October 2019.
From 15 February 2019, the company’s users will have the chance to compete with each other throughout the season for the right to become a Rugby Hero by expertly utilising their skill and knowledge of the game they love.
The launch of the company’s free to play App in Australia is expected to aggressively on-board rugby fans with users participating in free weekly and season-long tipping competitions.
Following the execution of heads of agreement in January 2019, the company intends to complete the establishment of a joint venture company with Cross Bet Holdings Pty Ltd and through the joint venture company securing access to a Sports Bookmaker Licence. The company intends to enter the pay-to-play prediction market in Australia via the joint venture company, with existing users being encouraged to use the new platform. The pay-to-play platform will provide users with the vehicle to participate in pay-to-play competitions, where more substantial prizes and rewards are intended to be offered.
The rugby launch comes off the back of a recent World Rugby and Nielsen Sports survey which demonstrated the significant growth potential in both traditional and non-traditional rugby markets. The study was concluding that rugby union has over 800 million worldwide followers, with more than 338 million people identifying themselves as genuine fans of the sport.
Two of the game’s big-name players are excited about backing the company’s innovative way of connecting fans with their sport. Former Australian fullback Drew Mitchell and Australian halfback Matt Giteau have been appointed as the company Ambassadors. Both Drew and Matt will participate in the company’s rugby competitions, giving users worldwide a chance to follow their predictions and to play and win rugby memorabilia and other money-can’t-buy prizes.
Drew and Matt will add to the money-can’t-buy prize draw by including, among other things, autographed rugby merchandise as well as opportunities to meet and engage with the company’s rugby Ambassadors throughout the year.
Now, let us have a quick look at SportsHero Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.085, trading Up by 1.19% during the day’s trade with a market capitalisation of ~$22.66 Mn. The counter opened the day at $ 0.085 which was also the day’s high and touched the day’s low of $ 0.081 with a daily volume of 303,787. The stock has provided a YTD return of -20% & also posted returns of -58.00%, -42.07% & -26.96% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 0.230 and touched 52 weeks low of $ 0.073, with an average volume of 177,333 approximately.
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