Loop Insights Selected as the Premier Venue Tracing and Fan Engagement Solution for NCAA College Basketball "Bubble" in Las Vegas
posted on Oct 08, 2020 06:00AM
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VANCOUVER, BC, Oct. 8, 2020 - Loop Insights Inc. (TSXV: MTRX) (OTCQB: RACMF) (the "Company" or "Loop"), a provider of contactless solutions and artificial intelligence ("AI") to drive automated marketing, venue tracing, and contactless solutions to the brick and mortar space, announces the signing of its first deal with partner bdG Sports ("bdG") to provide venue tracing and enhanced fan engagement solutions for its #VegasBubble, which will feature NCAA Division I men's and women's basketball when the new season launches next month.
LOOP ALLOWS #VEGASBUBBLE TO ACHIEVE CONTACTLESS AND CASHLESS GOALS TOWARD ECONOMIC RECOVERY FOR LAS VEGAS
The global pandemic has overturned nearly every team's schedule for the upcoming season. It has created the need for an easily accessible destination location where teams can play under the same health and safety protocols. In response to the revised NCAA Division I 2020-21 season, bdG, one of the nation's leading content providers in college basketball programming, is playing host to multiple men's and women's college basketball tournaments as well as non-conference matchups and opportunities for additional regular-season games.
Labeled the "#VegasBubble," bdG has worked closely with MGM Resorts to establish comprehensive health and safety protocols for its participants, officials, and game operations personnel with Loop's venue tracing platform anchoring the overall plan. Games are to be played at MGM Grand Garden Arena, Mandalay Bay Events Center, and T-Mobile Arena between November 25 and December 22, 2020, in Las Vegas.
"Our No. 1 priority in offering up a safe and secure environment for our teams was to have a robust safety plan," said Brooks Downing, CEO of Kentucky-based bdG Sports. "And as a complementary asset to our testing that we are planning to implement is Loop Insight's venue tracing. It's easy to implement and will help ensure that our teams will be safe and secure whether they are in the resort or the gym."
The added layer of protection requires no app download and only a tap of the user's device to check-in for protection and alerts. Loop's SmarTap devices will be installed to log every individual that enters the convention center's team areas, practice sites, and the arenas. Each individual will check-in using their Loop provided contact tracing wallet pass. In the case a person tests positive during one of bdG's COVID-19 tests, Loop's solution allows event staff to quickly identify individuals in proximity to that person and isolate potentially infected individuals as soon as possible for follow-up testing.
Moreover, Loop's contactless ticketing solution will add a further layer of protection by removing the manual processes associated with ticketing, while also delivering artificial intelligence marketing solutions. This will provide real-time personalized promotions and targeted engagement that reinvent the live fan experience.
"Interest in Loop's integrated contactless platform by NCAA Division I conferences, schools, and now events have been significant over the past couple of months as they desperately search for best of breed solutions that will allow them to safely restart operations and generate revenue," said Rob Anson, CEO of Loop Insights. "Being selected for the Vegas bubble is more validation and another major opportunity for Loop to showcase our contactless capabilities on a large-scale project with a global audience. With this agreement, it is fair to say that Loop continues to be the leader in live venue contactless technology."
CHANNEL RESELLER PARTNERSHIP WITH BDG SPORTS YIELDS IMMEDIATE BIG RESULTS
On August 13, Loop announced a channel reseller partnership with bdG Sports, a leading representation, event management, and public relations firm operating within the global sports marketing industry. bdG Sports is one of the largest college basketball content providers in the United States, having managed NCAA Division I tournaments across North America, including destination tournaments in Southwest Florida, Las Vegas, Canada, and The Bahamas.
Additionally, bdG manages two professional golf tournaments on the Korn Ferry Tour in the Caribbean and has an extensive background with both the LPGA and PGA TOUR. The firm boasts relationships with brands such as Nike, ESPN, Gatorade, and MGM Resorts International. As a result of COVID-19, these staple events and many other bdG events have been disrupted, with no plans for commencement without a solution for fans, athletes, and staff's safety.
The partnership's purpose is for Loop's contactless tracing & ticketing solution to provide bdG sporting events with an opportunity to commence and provide economic recovery for clients. This first and significant announcement to implement Loop into bdG's #VegasBubble in just 45 days into the partnership is a powerful testimony to the need for Loop's contactless solution capabilities.
Brooks Downing states, "many, within our extensive network of business, are desperately searching for innovative solutions that will allow them the opportunity to support a safe environment for fans, staff, and athletes, but also optimize their revenue streams that warrant the restart of operations. Loop effectively solves both of these problems with its leading venue tracing solution, which will provide the confidence needed as teams decide to restart their schedules. And while this tool will allow fans to return to events, Loop's contactless, artificial intelligence marketing solutions will provide personalized promotions and targeted engagement, leading to higher conversions and transaction revenue at all events. This level of personalized omnichannel marketing is incredibly valuable for our clients' resumption plans."
BDG PROVIDES DIRECT ACCESS TO ITS LIVE GLOBAL SPORTING EVENTS AND ITS LARGE NETWORK OF CLIENTS WITHIN NBA, NHL, NCAA, AND PROFESSIONAL GOLF
In addition to implementing Loop's contact tracing product into its current and future events, bdG Sports also plays host to major global sports events and will be implementing Loop's solutions. Additionally, bdG will represent Loop as a reseller to its current and future clients and enables direct access to the bdG Sports' client base, which the Company anticipates will accelerate its growth opportunities in the sports industry.
"This is a major opportunity for Loop as live event operators are looking for two things that we can immediately solve: first, they are desperately looking to safely re-open facilities in efforts to save their respective seasons, and secondly, they are looking for new line revenue opportunities to offset the losses from reduced fan capacity in stadium," Anson said.
Watch Loop CEO, Rob Anson and bdG Sports CEO, Brooks Downing discuss their new partnership https://youtu.be/cL5wfYNO-Qs
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion and Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About bdG Sports:
bdG Sports is a representation, event management, and public relations firm operating on an international platform within the sports marketing industry. bdG manages multiple college basketball and college hockey events in the United States each season with events in Southwest Florida, Las Vegas and The Bahamas. bdG's golf division manages the season-opening tournaments of the Korn Ferry Tour each January in The Bahamas, hosts premium Pro-Ams throughout the year and launched the Unbridled Tour mini-tour series in 2020. For more information, visit www.bdglobalsports.com or follow on @bdGlobalSports on Twitter, Facebook or Instagram.
About Loop Insights:
Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT") technology company that delivers transformative artificial intelligence ("AI") automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.