Esports Entertainment Group Provides FY21, FY22 Organic Revenue Guidance & Long-Term Revenue Opportunity
10 Settembre 2020 - 2:00PM
Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the
“Company”), a licensed online gambling company with a focus on
esports wagering and 18+ gaming, today provided for the first time,
organic revenue guidance for fiscal years 2021 and 2022 as well as
a long-term revenue opportunity based on the large and rapidly
growing esports wagering addressable market.
The Company has built a strong foundation for
revenue growth, since its April 2020 Nasdaq listing, completing
acquisitions of Argyll Entertainment and the assets of FLIP Sports,
forming partnerships with Allied Esports, Dignitas, and Twin River
Worldwide, while strengthening its team at all levels of the
organization. Based on these and other accomplishments, as well as
attractive industry trends, management issues the following
guidance:
Fiscal 21 (FY ending June
30, 2021) Revenue Guidance: $13 million
Fiscal 22 (FY ending June
30, 2022) Revenue Guidance: $25 million
Ultimately the Company believes long-term its
VIE.gg platform alone has a revenue opportunity of $180 million1,
based on securing 5% of the $3.6 billion esports wagering
market.
“Now that we have completed several of the
strategic milestones that we laid out in our roadshow, we are well
positioned for strong organic revenue growth,” commented Grant
Johnson, CEO of Esports Entertainment Group. “We additionally
intend to aggressively pursue accretive acquisitions within each of
the frameworks of our Three Pillar Strategy.”
The Company’s Three Pillar Strategy targets
growth opportunities in 1) esports entertainment, through
tournaments and leagues, 2) esports wagering in key markets
globally through the Company’s VIE.gg platform, as well as 3)
iGaming and traditional sports betting.
1. Long-term revenue target based on Esports
Wagering Market Size and market share assumptions laid out in
company’s investor deck.
ABOUT ESPORTS ENTERTAINMENT GROUP
Esports Entertainment Group, Inc. is a licensed
online gambling company with a specific focus on esports wagering
and 18+ gaming. Esports Entertainment offers fixed odds wagering,
fantasy and pools on various esports events in a licensed,
regulated and secure platform at vie.gg and owns and operates
online sports book, SportNation.bet. In addition, Esports
Entertainment intends to offer users from around the world the
ability to participate in multiplayer mobile and PC video game
tournaments for cash prizes. Esports Entertainment is led by a team
of industry professionals and technical experts from the online
gambling and the video game industries, and esports. The Company
holds a license to conduct online gambling and 18+ gaming on a
global basis in the UK, Ireland, Malta and Curacao. The Company
maintains offices in New Jersey, the UK and Malta. For more
information visit www.esportsentertainmentgroup.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes
forward-looking statements. These statements relate to future
events or to our future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance, or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current
views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and liquidity.
We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking
statements contained in the Securities Litigation Reform Act of
1995 protects companies from liability for their forward-looking
statements if they comply with the requirements of the Act.
Contact:
U.S. Investor Relations RedChip
Companies, Inc. Dave Gentry 407-491-4498 dave@redchip.com
Media & Investor Relations
InquiriesJeff@esportsentertainmentgroup.com
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