ESE Entertainment reports $3.8m gross profit for Q2 2022

ESE Entertainment has published its second-quarter results and operational highlights for the three months ended 30 April 2022.

ese gaming generic bg gi web image
Listen To Article

The company reported revenue of CA$15m (US$11.6m) for Q2 2022, which represents an increase of 1,994% from the three months ended 30 April 2021.

Gross profit for the quarter stood at $3.8m, a 2,748% increase from the $0.1m gross profit of Q2 2021.

Q2 2022 saw an EBITDA of $884,751, compared to an $832,195 EBITDA loss for Q2 2021.

Total assets as of 30 April 2022 stood at $38m, an increase from the $15.9m total assets as of 30 April 2021.

Konrad Wasiela, ESE CEO, said: “The combined operations have proven to deliver record revenue growth, improve margins and reach a critical milestone of achieving positive adjusted EBITDA for the first time in company history.

"This performance is a testament to our entire team, which continues to execute at the highest level and deliver on our business plan and growth strategy.” 

The company’s Q2 2022 operational highlights included the acquisition of Gameaddik, partnerships with Opera, Waveform Entertainment, Corsair Gaming and Cowana, a new broadcast studio in Warsaw and a new business division focused on developing existing products.

In addition, ESE appointed Gameaddik Founder and CEO, Eric Jodoin, as the company’s new Chief Operating Officer.

April 2022 saw ESE launch a new iGaming division in an effort to capitalise on Ontario’s burgeoning internet gambling market. This announcement boosted the company’s share price, reaching a five-day high of $1.02 on 4 April.

Premium+ Connections
Premium Connections
Executive Profiles
Wynn Macau
MGM Resorts Japan
Bloomberry Resorts Corporation
Sightline Payments

Global Gaming Awards Asia: What to expect in 2023

Gambling Insider looks ahead to the Global Gaming Awards Asi...

The power of the rebrand

With the help of industry experts, Gambling Insider Editor T...

Evolution Europe CEO Gionata La Torre: The Italian job

Evolution Group’s new CEO Europe, sits down with Gambling...

Big Question: How can slots innovate from here?

Simon Hammon, CEO of Relax Gaming, Erkki Nikunen, Partner &...

Read Magazine

30 March, 2023

Wilfred Wong: Macau “cannot just rely on gaming”

Sands China’s President and Executive Director, Wilfred Wong, has echoed earlier calls by the Chinese Government to diversify the gambling province of Macau.