EEG takes $38.6m impairment charge on failing assets

Esports Entertainment Group has posted net revenue of $15.7m for Q1 2022, up 8% sequentially. Gross profit was also up 18% at $9.4m for the first quarter of 2022.  However, the operator has been hit with a $38.6m impairment charge on several failing assets, particularly its esports assets Helix, ggCircuit and EGL, meaning its overall Q1 report is less positive.   Its CEO, Grant Johnson, has attributed the company’s inabilit...