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Swifty Global (OTC: DRCR) has announced the launch of Swifty Sports IE in Ireland on November 12th, 2024, expanding its sports betting and online casino services to the Irish market. The company, which holds licenses in UK, Ireland, South Africa, and has a pending license in Malta, is targeting a market projected to reach US$1.24 billion in 2024. Online sports betting represents 41% of Ireland's online gambling industry, making it the most popular form of iGaming in the country. The platform offers access to hundreds of thousands of sporting events monthly, with the company positioning itself to capitalize on Ireland's growing online betting market.
Swifty Global (OTC: DRCR) has signed a binding Letter of Intent to be acquired by Signing Day Sports (NYSE: SGN). This strategic move aligns with Signing Day Sports' aggressive buy-and-build acquisition strategy. Swifty, a profitable and debt-free technology company in the online sports betting and casino sector, achieved a turnover of over $128 million in 2023 and expects to triple its profits over the next 2 years. The acquisition will facilitate Swifty's transition to a major exchange like NYSE American, providing access to growth capital. Swifty's software team will enhance Signing Day's platform, expanding its offerings globally. The deal is expected to close by early October, subject to legal and regulatory procedures.
Swifty Global (OTC: DRCR) reported strong Q2 2024 performance, highlighting its readiness for a major exchange uplisting. Key financial metrics include:
- Cash on hand increased by 37%
- Total assets grew by $2.1 million (35%)
- Liabilities reduced by $1.1 million (35%)
- Shareholders' equity reached $5.9 million
Despite slightly reduced revenue and net income due to conservative risk management, the company's focus on long-term stability has paid off. Swifty obtained gambling licenses for South Africa and Ireland, positioning it for expansion into markets valued at over $7.1 billion annually. The company aims to be fully operational on a major exchange by Q4 2024.
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