Esports Entertainment Group, Inc., 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.
Powered by WPeMatico