DraftDay Fantasy Sports to Appeal NASDAQ Delisting

NEW YORK--()--DraftDay Fantasy Sports Inc. (Nasdaq:DDAY) (the “Company”), has announced on February 23, 2016, it received a letter from the Listing Qualifications Department of The NASDAQ Stock Market (“NASDAQ”) notifying the Company that NASDAQ had determined the Company is unlikely to achieve near-term compliance with certain listing requirements relating to minimum stockholders’ equity and timely filing of quarterly reports.

The Company intends to appeal this decision by requesting a hearing before a NASDAQ Listing Qualifications Panel to review NASDAQ's decision to delist the Company. A hearing request by the Company automatically postpones the delisting of the Company's securities pending issuance of the Panel's decision.

For further details, please refer to the company’s Current Report on Form 8-K as filed yesterday with the Securities and Exchange Commission.

About DraftDay

DraftDay Fantasy Sports Inc. offers a high quality daily fantasy sports experience directly to consumers and to businesses desiring turnkey solutions to new revenue streams. DraftDay Fantasy Sports Inc. is the largest shareholder of DraftDay Gaming Group, with a 44% stake. Sportech owns 35%. By combining and capitalizing on the well-established operational business assets of DraftDay and Sportech, the new DraftDay is well-positioned to become a significant player in the explosive fantasy sports market. DraftDay has paid out over $30 million in prizes with increased player retention and brand loyalty. DraftDay Fantasy Sports also operates MyGuy and Viggle Football both of which offer real-time interactive participation with professional and college football games; Wetpaint, which offers entertainment and celebrity news; and Choose Digital, a digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. All information provided in this press release is as of the date of this release. Except as required by law, DraftDay Fantasy Sports, Inc. undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contacts

For DraftDay Fantasy Sports:
Investors:
Tom McLean, General Counsel, 212-231-0092
or
Media Relations:
Dian Griesel International
Laura Radocaj, 212-825-3210
lradocaj@dgicomm.com

Release Summary

DraftDay Fantasy Sports has received a delisting letter from NASDAQ on February 23, 2016 and intends to appeal the decision by requesting a hearing before a NASDAQ Listing Qualifications Panel.

DraftDay Fantasy Sports Inc.