Esports Entertainment Group, gambling and betting operator, is looking to earn revenue of $ 13.0 million (€ 10.9 million) for its 2021 fiscal year. This will be the first year that the listed company on the New York Stock Exchange, record income.

Until now the operator had remained in a “development stage” as it described itself. Therefore, it had not been able to make profitable operations and had more a series of losses that led to think that it had not been able to generate income.
But after putting a number of strategies in place in recent months, the company first published an organic revenue guide that spans fiscal years 2021 and 2022.

The operator’s moves include its April listing (NASDAQ: GMBL), the acquisition of the betting and gaming operator Argyll Entertainment, along with the assets of Flip Sports. Likewise, the signing of partnerships with other companies such as Allied Esports, Dignitas and the most recent global agreement with Twin River to access the New Jersey market.

The business growth forecasts are of such magnitude that the operator believes that its revenue could almost double in fiscal 2021 to about $ 25 million.

Such growth will be made possible by exchange betting platform VIE.gg, which has a revenue potential of $ 180.0 million, according to the operator’s calculations. The business ensures 5% of the e-sports betting market, which it considers has a market value of $ 3.6 billion.

The operator’s “three-pillar strategy” focused on capturing growth opportunities in specific sectors is paying off, says Esports Entertainment CEO, Grant Johnson.

The company focuses on bringing e-sports entertainment to its customers through tournaments and leagues. But also with e-sports betting in some key markets that they participate in with their VIE.gg platform. And produce income through gambling and traditional sports betting.

According to Johnson, after completing several of the strategic milestones that were posted during its tour, the operator feels better positioned to deliver strong organic revenue growth.

According to Johnson, after completing several of the strategic milestones the operator presented on their tour, it feel better positioned to deliver strong organic revenue growth.

“In addition, we intend to vigorously pursue cumulative acquisitions within each of the frameworks of our three-pillar strategy,” he added.

Source: https://www.igamingbusiness.com/news/esports-entertainment-expects-revenue-reach-13m-2021

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