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Message: VIDEO - Esports Entertainment Group $GMBL Delivers Record Breaking Q1 and Provides $100 MILLION 2022 Revenue Guidance

VIDEO - Esports Entertainment Group $GMBL Delivers Record Breaking Q1 and Provides $100 MILLION 2022 Revenue Guidance

posted on Nov 18, 2021 09:10AM

Esports Entertainment Group is an esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations.

Esports Entertainment Group and its affiliates are well-poised to help fans stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, iGaming and casinos, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels.

Q1 2022 Financial Results 

  • Net revenue of $16.4M, up $16.2M + 8,100% YOY / + 86% sequential VS $8.8 million in 4Q21
  • Gross profit of $10M, up $10.2M YOY / + 92% sequential VS $5.2 million in 4Q21
  • Gross margin of 61%, VS 59% in 4Q21

Grant Johnson, CEO of Esports Entertainment Group comments,

"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. The powerful combination of marquee partnerships, an 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."

Sit back, relax and watch this powerful interview.

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