Esports Entertainment sees first quarter revenue boost of 86%

Finance News

Bethard owner Epsorts Entertainment Group has reported net revenues of $16.4 million, up $16.2 million and an 86% increase in revenue in the first quarter. Gross profit was $10.0 million.

“Our first quarter revenue nearly matched our performance for the entirety of FY21 and reflects our recent platform building transactions. With the strong start to FY22 and continued momentum in our business, we are reiterating our expectation that Esports Entertainment will eclipse more than $100 million in revenue this fiscal year,” said Grant Johnson, CEO of Esports Entertainment Group. “

The powerful combination of marquee partnerships, expansive portfolio of products and services and strategic acquisitions is expected to drive double digit year-over-year and quarterly sequential financial growth throughout fiscal 2022. We remain ideally positioned in iGaming and e-sports, two of the fastest growing entertainment verticals, and our team is focused on executing our rapid expansion strategy, which we expect will further strengthen our market position and allow us to scale and achieve operating leverage from our portfolio of unique and powerful assets.”