Pointstreak Sports Technologies Inc. Announces Acquisition of 5050 Central Ltd.
Nov 14, 2011
5050 Central has changed the landscape of traditional raffles by incorporating a computerized ticket sales system that electronically captures every transaction while providing updated real-time raffle information to fans or participants through the venue's scoreboards or other display vehicles. While 5050 Central's unique platform enhances the experience for fans and participants, the system also provides numerous benefits to raffle operations; including increased revenue generation, ease of use, compliance with local gaming regulations as well as accountability and credibility to the raffle business.
Blair Smith, Vice President of Operations and a founder of 5050 Central stated, "The staff at 5050 Central are thrilled about this merger and all the benefits that will be derived from being a part of Pointstreak's larger infrastructure and reach throughout the sports industry. The acquisition will drive innovation and enhancements across every aspect of 5050 Central's platform which will truly benefit our current and future customers".
5050 Central's system has been implemented in the venues of major professional sports teams such as the Boston Bruins, Boston Red Sox, Calgary Flames, Chicago Cubs, Orlando Magic, Phoenix Coyotes and Winnipeg Jets. In addition, 5050 Central's system is utilized by 23 venues in the Canadian Hockey League and more than 60 other facilities operating teams at the minor professional level. While the sports industry is a key focus of 5050 Central's growth strategy, the platform has been utilized by charitable organizations at festivals, concerts, conventions and other events with tremendous success.
Scott Secord, Pointstreak's President/CEO commented, "5050 Central's results for charitable foundations and not-for-profit entities have been remarkable. For example, a single raffle at the 2010 World Junior Hockey Championship generated $299,400 in sales. Those results speak for themselves. Overall, 5050 Central’s system has increased raffle proceeds by an average of 225% for organizations who previously ran raffles using the traditional manual ticket process”.
Pointstreak has made several successful acquisitions in recent years with the objective to either enhance existing sports technologies or create new technologies by combining complimentary software platforms. With the acquisition of 5050 Central, Pointstreak is creating an opportunity for its customers to adopt the 5050 Central platform as a means to assist in lowering the cost of participation for grassroots sports while also providing an opportunity to support various charities.
Secord added, "Professional sports teams and their foundations have used a portion of the proceeds from operating 5050 Central's raffle system to provide financial support to grassroots athletics including supporting high schools sports and programs assisting under privileged kids' participation in sports. It truly is a platform that benefits everyone and we are excited about the positive outcomes 5050 Central will bring to grassroots sports and other charitable endeavors".
About 5050 Central Ltd.:
5050 is changing the landscape of raffles by incorporating a wired and/or wireless data collection system for event raffles. The electronic raffle system electronically captures every transaction while providing updated real-time raffle information to single or multiple displays located throughout the venue. Tickets are sold through fixed touch-screen terminals and/or mobile devices, creating an effortless data collection system providing accountability while eliminating any margin of error. Through 50/50 Central's reporting system and electronic processing, organizations are provided with the highest level of accountability in running raffles while creating new sponsorship/advertising revenues streams to support charitable initiatives.
5050 Central, "Building Communities - One Raffle At A Time"
About Pointstreak Sports Technologies Inc.:
Pointstreak Sports Technologies Inc.'s mission is to provide innovative technologies to enhance the experience of the global sports community.
More information about Pointstreak Sports Technologies Inc. can be found at www.pointstreak.comor through the product information websitewww.pointstreaksolutions.com
Scott Secord - President/CEO, (905) 731-9867,ssecord(at)pointstreak.com
Gregg Sayer - Vice President of Communications, (778) 330-1247,gregg(at)pointstreak.com