Esports Technologies Announces 10-Month Revenue Guidance of $70 Million
Esports Technologies, Inc. (Nasdaq: EBET), a leading global provider of advanced esports wagering products and technology, announced today its financial guidance for the 10-month period from December 2021 to September 2022 in which it anticipates revenue of $70 million.
This projected revenue and related growth is derived primarily from the company’s online sportsbook and casino brands including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP, which have over 1.25 million deposited customers in more than 15 countries. The brands were acquired by Esports Technologies on November 29, 2021, two months into the company’s fiscal year. The subject 10-month period is from the closing of the brand acquisition until the end of the September 30 fiscal year.
Esports Technologies endeavors to continue growing revenue by offering more esports wagering opportunities and layering in its proprietary wagering odds modeling with the acquired brands. The company is in a strong position to benefit from the heightened popularity and interest in esports, which now represents a $13 billion market opportunity.
Aaron Speach, CEO, Esports Technologies, said, “As we begin a successful 2022, we remain committed to increasing our operational and financial performance. We expect to deliver consistent cash flow for the remainder of 2022 by growing esports revenue in regulated markets, as well as continued growth from our portfolio of online sportsbook and casino brands.”
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