Published
OnlineSports BettingIndustryeSports

Esports Entertainment Q1 revenue totals $222,392

Esports betting company Esports Entertainment has posted revenue of $222,392 for the first quarter since its acquisition of Argyll Entertainment earlier this year.

esports

According to the company’s financial report, operating expenses for the three months ending 30 September totalled $3.7m, a significant increase from $700,000 in Q1 2019. The company attributed this increase to “payroll, stock compensation, marketing, legal and professional services fees related to increased business activity.”

Net loss totalled $1.8m for the period, while the company’s total assets totalled $10.4m at the end of September.

The operator described an “uptick” in business during the month of October. Total handle was more than $16m for the month with revenue totalling more than $600,000 in the first month after Q1.

For the fiscal year 2021, Esports Entertainment has predicted revenue will total $13m. The company anticipates this will increase to $25m in the following fiscal year from its core Argyll and VIE platforms.

Commenting on the results, Grant Johnson, Esports Entertainment CEO, said: “We have achieved many significant milestones since uplisting to the NASDAQ in April.

“The COVID-19 pandemic has absolutely accelerated the rapid growth of esports leading to mainstream broadcasts to national TV audiences on ESPN and Fox.

“These trends helped us set new record audience viewing stats with our partner Allied Esports for the globally recognized Legend Series, just one of many accomplishments during the quarter.

“We believe the successes achieved this year provide an extremely strong foundation for long-term growth while offering investors a true pure play opportunity in the burgeoning world of global esports.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...