Esports Technologies releases 2022 revenue projections

By Gambling Insider

Esports Technologies has offered a positive financial prediction for the 10-month period between December 2021 and September 2022, aiming to take advantage of further growth in industry. 

The company believes it will generate revenue of $70m for the trading period, which would represent growth for the esports product developer.  

Aaron Speach, CEO, Esports Technologies, said: "As we begin a successful 2022, we remain committed to increasing our operational and financial performance. We expect to deliver consistent cash flow for the remainder of 2022 by growing esports revenue in regulated markets, as well as continued growth from our portfolio of online sportsbook and casino brands." 

The projected growth is predominantly attributed to the company’s portfolio of online sportsbook and casino brands, which collectively have in excess of 1.25 million customers per month, across 15 countries.

These brands include Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP, and were acquired by Esports Technologies in November 2021.  

The 10-month period, over which the revenue forecast has been generated, represents the time from when these brands were acquired until the end of the company’s fiscal trading year.  

With the esports market now growing to an estimated $13bn annually, Esports Technologies believes it is firmly in the right place to take advantage of the opportunity.

The company aims to further expand its revenue opportunities by offering more wagering options to consumers, as well as continuing to leverage acquired brands. 

Earlier this month, Esports Technologies filed a patent covering the ability to place bets using a “Financial Instrument Performance-Based Pari-Mutuel Betting System and Method.” The system implements an electronic betting experience for pooled events, similar to horseracing.

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