NEW YORK, NY, Jan. 30, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Dear Cashmere Holding Company (OTC: DRCR), also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products the company develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the company’s proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platforms.
Following the completion and approval of the Gaming Laboratories International (GLI) certification for Swifty's innovative B2B gaming platform in Q4 of last year, Swifty is excited to announce its first partnership utilizing this platform. This partnership will enable Swifty to offer a fully managed service package, akin to a franchise model agreement, branded as Swifty. As part of this exciting new venture the Swifty brand will be launched into the highly lucrative Irish market under the swifysports.ie domain name. Contractual terms for the new partnership have been formally agreed upon, and the Irish gambling license for this agreement has been approved.
Final preparations for the launch are now in their concluding stages, with the entry into the Irish market anticipated no later than the end Q1 of this year. Emphasizing the strategic value of this expansion, it is noteworthy that Ireland's online gambling industry currently generates revenues exceeding $5.3 billion on an annual basis. This underscores the significant potential of the Irish market, which Swifty is now preparing to enter. This move marks a key milestone for the group in its ongoing efforts to grow and expand into new international territories.
The new B2B platform offering sits at the center of the Swifty scaling and growth strategy and will unlock a substantial new revenue stream for the business. In addition to offering this B2B platform on a franchise agreement basis, Swifty will also make the platform available as a white-label solution. This arrangement will allow other gambling companies to procure a license to use Swifty's platform for their own brands. This dual approach not only diversifies Swifty's business model but also maximizes the platform's reach and usability, providing customized solutions to meet various business needs across the gaming industry.
Swifty expects a significant increase in profits, fueled by this international expansion and potential future partnerships stemming from the new B2B offering. This innovative business model, delivered through a Software-as-a-Service (SaaS) subscription, introduces a recurring fee structure targeting a new customer base. This strategy promises not only a more predictable and sustainable revenue stream but also diversifies and strengthens the company's overall revenue model.
"For the past two and a half years, Swifty has been dedicated to building its core infrastructure, laying a robust foundation for the business that will serve as the platform for its growth over the next decade. Heading into 2024, the company is encouraged by the demand for its in-house developed infrastructure. This new partnership and expansion into the Irish market is a testament to this demand. With the technological infrastructure now firmly in place, the focus of the company will shift significantly towards international growth and expansion. This renewed focus is geared towards leveraging the established infrastructure to explore new market opportunities, foster innovative partnerships, and ultimately drive the growth and profitability of the company. With a solid base in place, Swifty is well-positioned to capitalize on its investments and drive substantial business growth in the coming year," commented James Gibbons, CEO of Swifty Global.
For regular Swifty Global (DRCR) updates, you are invited you to view the company’s website and/or to follow the company’s Twitter and LinkedIn accounts:
Website: https://swifty.global
Twitter: https://twitter.com/SwiftyGlobal
LinkedIn: https://www.linkedin.com/company/swifty-global
Email: hello@swifty.global
Related links:
https://www.otcmarkets.com/stock/DRCR/profile
Source: DRCR
Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Website: https://swifty.global, Twitter: https://twitter.com/SwiftyGlobal.
