Aaron Speach Chief Executive Officer of EBET
EBET, Inc. Announces Quarter-over-Quarter Revenue Increase of 166%
Posts Revenue of $19 Million for Second Quarter 2022
EBET, Inc., a leading global provider of advanced wagering products and technology, announced revenue for the quarter ended March 31, 2022 of approximately $19 million, up more than 166% quarter over quarter, and a gross profit of approximately $7 million. EBET ended the quarter with a cash position of $7.1 million. This revenue increase is due to the acquisition of the brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP on November 30, 2021. The acquisition included 1.25 million deposited customers.
EBET plans to continue to grow revenue through its iGaming, sportsbook and esports brands with a focus on the Gen Z and Millennial markets. This includes the rollout of its esports odds modeling and wagering product across high-value European markets, as well as expanding geographical reach and investment in intellectual property.
“We are very pleased with our business results for the second quarter, and it is a testament to our focus on creating the best experience for the Gen Z and Millennial wagering market,” commented Aaron Speach, Chief Executive Officer of EBET. “We are delighted to see the strong customer response to our brands and the progress we are making in launching products and investing in proprietary technology.”
Powered by WPeMatico
-
Central Europe5 days ago
Nolimit City Announces Partnership with win2day
-
Compliance Updates5 days ago
Romania Bans Gambling Venues in Small Towns and Villages
-
Latest News5 days ago
NetBet Casino Partners with Nolimit City
-
Compliance Updates4 days ago
DGA: Three Orders and One Reprimand Issued to Mr. Green Limited for Breach of the Anti-Money Laundering Act
-
Asia4 days ago
China’s CBA League Extends Global Broadcast and Integrity Partnership with Sportradar
-
BIG Brazil4 days ago
NeoGames partners with BIG Brazil for its Caesars Brazil brand ahead of market opening
-
eSports4 days ago
eSports in the CIS region , Q&A w/ Viktor Block, Senior Sales Manager/PandaScore
-
Compliance Updates5 days ago
Sightline Selects GeoComply for Identity and Geolocation Compliance Services