VANCOUVER, British Columbia, April 26, 2021 (GLOBE NEWSWIRE) — Loop Insights Inc. (MTRX:TSXV RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement, and automated venue tracing to the brick and mortar space, is pleased to announce the 4th 100% successful execution of its venue management platform, as well as industry-shattering engagement rates at the inaugural MGM Resorts Championship PGA Tournament at Paiute Golf Resort in Las Vegas (“PGA Tournament”).
LOOP VENUE MANAGEMENT DELIVERS 100% PROTECTION, FAN ENTRY AND RECORD PROMOTION ENGAGEMENT RATES
The Loop Venue Management Platform achieved success on multiple levels by protecting golfers, caddies, event organizers, volunteers, media and fans, as well as providing safe fan entry and, finally, record engagement rates for multiple promotions through Loop’s Wallet Pass solution as follows:
- Promotion #1 for other MGM sports events received a 31% click through rate.
- Promotion #2 for MGM shows received a 25% click through rate.
- Promotion #3 for MGM sports book property MGMBet achieved a 52% click through rate. The latter promotion was only made possible by Loop’s age verification feature, which ensured delivery of the promotion to those attendees at least 21 years old.
For perspective, the average click-through rate on Google AdWords paid search ads is approximately 2%. Accordingly, anything over 2% can be considered an above average rate. Loop’s platform shattered the industry standard by as much as 2,600%.
Loop Insights CEO Rob Anson stated: “The performance of our venue management platform in terms of protection and engagement at the inaugural MGM PGA Tournament is quite simply superior to any other offering on the planet by several magnitudes. Loop can unequivocally claim the premier venue management solution position in the market, the timing of which could not be better given the desire by all four major sporting leagues to open venues to full fan attendance, as well as create brand new revenue streams through digital engagement both in stadium and at home. Our results have not gone unnoticed and I can confirm with shareholders that multiple advanced discussions are occurring with major sports organizations.”
In a recent interview from Las Vegas at another successful Loop Insights venue management driven event, bdG Sports CEO Brooks Downing stated the following with respect to the power of Loop Insights going beyond contact tracing and into “1 to 1” fan engagement through Loop’s Artificial Intelligence as “an evolution of the fan experience and a brand new source of revenue”:
https://youtu.be/r-HY7hBpmHA?t=175
On June 1st, Nevada will see the return of 100% capacity for live events, conferences and shows and Loop Insights will be there to support the full re-opening of Las Vegas and the rest of the US, North America and ultimately the entire world.
NEVADA MOVES TO 100% CAPACITY EVENTS, ACCELERATES LOOP DISCUSSIONS WITH MAJOR SPORTS AND HOSPITALITY EVENTS STEMMING FROM LIVE VENUE BUBBLE DEMONSTRATIONS AND SUCCESS
As of June 1st, Nevada will be allowing gatherings, including sporting events, conventions and trade shows, to operate at 100% capacity. The recent successful deployments of Loop’s Venue Management platform in Las Vegas, including the PGA Tournament and the Big West NCAA Conference Basketball Championships, coupled with previous live event successes, has clearly established Loop as the best in class venue management platform for major sporting events.
Loop Insights had already commenced multiple and advanced negotiations with Nevada-based hospitality and sports entities with the success of its first Nevada bubble on December 1, 2020. This latest PGA tournament success with the addition of massive engagement rates has served to accelerate those discussions, as well as spawned additional discussions with major professional sports teams and leagues outside Nevada.
CEO Rob Anson added, “There is simply no way to overstate the implications of yet another live environment success and the level of discussions we are engaging in at the present moment. Loop continues to hit it out of the park and provide the sports world with the empirical data necessary to demonstrate our solution is the best in the world. We still have work to be done but we are moving close to the possibility of Loop helping re-open some of North America’s largest sporting events.”
On October 8, 2020, Loop Insights announced it was selected as the Premier Venue Tracing and Fan Engagement Solution for NCAA College Basketball #VegasBubble in Las Vegas, where games are being played at MGM Grand Garden Arena, Mandalay Bay Events Center, and T-Mobile Arena between November 25 and December 22, 2020.
On November 9, 2020, Loop Insights announced it would Implement the First Ever Fully Integrated “Venue Bubble” ( End-To-End Testing, Contact Tracing, and Alert Notifications) at the #BeachBubble NCAA College Basketball Tournament in Fort Myers, Florida, hosting 14 NCAA Division I men’s and women’s basketball teams in November and December that are playing at both Hertz Arena and Alico Arena (FGCU) while lodging at the Hyatt Regency.
The #BeachBubble implementation represented the first ever end-to-end COVID-19 venue solution in a live environment and a major industry milestone given the global demand for venue solutions from enterprise level organizations around the world.
On December 1st, 2020 Loop Insights announced the 100% success of its venue bubble solution at the #BeachBubble in Fort Myers, Florida and the #VegasMainEvent in Las Vegas. The #BeachBubble implementation represented the first-ever end-to-end COVID-19 venue solution in a live environment and a major industry milestone given the global demand for venue solutions from enterprise-level organizations around the world.
On January 22nd, 2021 Loop Insights was selected to provide its complete venue management platform to the Paiute Las Vegas Championship, a Korn Ferry Tour event, which will be played April 12-18, 2021 at the Las Vegas Paiute Golf Resort. The implementation of Loop’s venue management platform at the Paiute Las Vegas Championship is another significant vote of confidence from the professional sports world and is expected to lead to continued conversations with professional sports organizations as they return and re-open to fans.
On March 15th, 2021 Loop Insights announced achieving 100% success delivering third venue bubble at ncaa 2021 big west conference championships at Mandalay Bay Resort And Casino Las Vegas.
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue 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. Loop’s products and services are backed by Amazon’s Partner Network.
For more information, please contact:
| Loop Insights Inc. | LOOP Website: www.loopinsights.ai | |
| Rob Anson, CEO | Facebook: @ LoopInsights | |
| T : +1 877-754-5336 Ext. 4 | Twitter: @ LoopInsights | |
| E: ir@loopinsights.ai | LinkedIn: @ LoopInsights |
This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. 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, 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) accept responsibility for the adequacy or accuracy of this release.
