SNIPP INTERACTIVE INC - SNIPF STOCK NEWS

Snipp Interactive has announced the appointment of Adi Dhandhania, COO of Bally's Interactive, to its Board of Directors following Bally's $5 million investment. Dhandhania brings over a decade of experience in gaming and technology, focusing on corporate strategy and operations. Additionally, Tom Burgess transitions from Board member to President of SnippMEDIA, a new division aimed at enhancing client engagement through a disruptive payments media network. The company also granted 10 million stock options to its Board and five officers, subject to TSX Venture Exchange approval.

Gambit Rewards, Inc. has announced a partnership with Gamelancer, the largest Gen Z social gaming network, enhancing user engagement through a new loyalty program allowing gamers to earn rewards. Gambit's platform integrates unused loyalty points into digital tokens for sports betting and online gaming. With over 28 million followers across TikTok, Snapchat, and Instagram, Gamelancer will expand Gambit's outreach to a younger audience. This collaboration aims to create a gamified loyalty experience, transforming how users interact with rewards in gaming.

Gambit Rewards has partnered with Gamelancer, the largest Gen Z social gaming network, to integrate its free-to-play sports betting platform with Gamelancer's extensive audience of over 28 million followers. This collaboration allows users to convert Gamelancer points into Gambit Tokens for online gaming and betting. Gambit, a regulator-approved network, aims to unlock significant value from unused loyalty points, while Gamelancer enhances its rewards marketplace. This partnership is expected to enrich user engagement and expand both companies' reach in the gaming sector.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) reported record Q1 2022 results, with revenue of $4.2 million, up 64% year-over-year, marking the highest Q1 revenue in its history. The gross margin stood at 56%, down from 68% in Q1 2021. EBITDA increased by 105% to $0.3 million, and the company achieved a net income of $25,147, recovering from a net loss of $181,647 in the previous year. The bookings backlog rose 44% to $10.8 million, and cash reserves reached $1,899,110.

Snipp Interactive Inc. (SNIPF) reported substantial financial results for Q4 2021 and Fiscal 2021. Q4 revenue surged by 96% to $4.3 million, with EBITDA increasing by 350% to $0.7 million. Fiscal 2021 revenue totaled $15.3 million, up 76%, while net income reached $2.1 million compared to a net loss of $1.3 million in 2020. Gross margins slightly decreased from 75% to 63% in Q4 and from 72% to 57% for the fiscal year. The company’s bookings backlog stood at $10.9 million, a 63% increase. Dr. Niamh O Riordan was promoted to COO, highlighting the company’s commitment to growth and operational excellence.

Snipp Interactive Inc. has successfully closed a non-brokered private placement with Bally's Corporation, issuing 25 million shares at US$0.20 each, raising gross proceeds of US$5 million. The funds will support sales, marketing, and general working capital. Additionally, Snipp and Bally's entered into two commercial agreements. The securities will have a hold period until August 15, 2022. This strategic partnership aims to enhance Snipp's offerings in digital marketing and loyalty solutions.

Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) has announced a $5 million investment from Bally's Corporation (NYSE: BALY), which will entitle Bally's to nominate a director to Snipp's board and grant them a right of first refusal on asset sales. This investment will result in Bally's owning approximately 9% of Snipp's shares. The two companies will also enter into commercial agreements, making Bally's the exclusive gaming partner for Snipp's loyalty gaming platform, Gambit. Deployment of SnippLOYALTY software across Bally's properties is set to begin in Q2 2022.

Snipp Interactive Inc. (TSXV:SPN)(OTC PINK:SNIPF) reported a historic first quarter in 2022, achieving total sales bookings exceeding USD $4.5 million. Notably, over 40% of these bookings originated from new markets beyond traditional Consumer Packaged Goods (CPG) clients. The company's bookings backlog rose over 30% year-over-year to more than USD $10 million. Snipp anticipates significant revenue growth compared to the prior year and expects to maintain positive EBITDA. CEO Atul Sabharwal highlighted the impact of new customer wins and the company's strategy in expanding into various industries.

Snipp Interactive Inc. (OTC PINK: SNIPF) announces that its Gambit Rewards division has been shortlisted for the 2022 International Loyalty Awards in the category of Best Loyalty Industry Innovation. This recognition reflects Gambit's innovative approach to gamifying loyalty programs by allowing users to convert loyalty points into Gambit Play Tokens for online gaming and sports betting without real money risk. Launched in 2019, Gambit has positioned itself to access the estimated US$100B of unused loyalty points in America, enhancing engagement in the growing online gaming sector.