Allied Esports reports significant growth in third quarter
Allied Esports, the parent company that runs HyperX Esports Arena Las Vegas inside Luxor, reopened in June following a pandemic-spurred closure earlier this year.
The arena is running at 35 percent less capacity than prior to the pandemic, with reduced operating hours and with sanitation measures, Allied Esports CEO Frank Ng told investors Monday on an earnings call. Though its in-person events were limited due to COVID-19 restrictions, the company has found success shifting its attention online, he said.
“Since opening, the demand we have seen for our weekly tournaments is very encouraging,” Ng told investors.
The company hosts weekly “Fortnite” and “Mario Kart” tournaments, which each drew more viewers during the third quarter than January through March. The number of unique viewers on Fortnite was up 1,144 percent in the third quarter compared to the first quarter while Mario Kart was up 136 percent.
Additionally, Allied Esports saw significant online growth in its World Poker Tour side of the business, Ng said. It’s a strategy shift to online that was already in the works prior to the COVID-19 pandemic, company executives told investors.