Esports Technologies releases revenue estimate
Company expects top line to hit $70m over 10-month period.
Esports Technologies, a global provider of esports wagering products and technology, on Wednesday unveiled its financial guidance for the 10-month period covering December 2021 through September 2022, in which it anticipates revenue of $70m.
This projected revenue and related growth is expected to be derived primarily from the company’s online sportsbook and casino brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP, which have more than 1.25m 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 fiscal year, September 30.
Esports Technologies said it will endeavor to continue growing revenue by offering more esports wagering opportunities and layering in its proprietary wagering odds modeling with the acquired brands.
Aaron Speach, CEO, Esports Technologies, asserted the company is in a strong position to benefit from the heightened popularity and interest in esports, which he said now represents a $13bn market opportunity.
“As we begin a successful 2022, we remain committed to increasing our operational and financial performance,” Speach said in a statement. “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.”
Esports Technologies says it develops wagering products for esports fans and bettors around the world. The company adds it is focused on bringing better odds and technology solutions to cater to the Millennial and Gen-Z demographics. It has an expanding portfolio of intellectual property with patents pending around odds modeling simulation, an electronic sports betting exchange system, live streaming odds integration and enhancing modeling probabilities in multi-player games.
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