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Can this Esports Stock Keep Pushing Its Revenues Higher?

Stockhouse Editorial
1 Comment| February 14, 2022

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An esports-focused licensed online gambling stock rose roughly 5% in early Monday trading after announcing a date to release its fiscal Q2 2022 financial results.

Are investors preparing for good news? Esports Entertainment Group, Inc. (NASDAQ: GMBL, Forum) reported that revenue for its fiscal Q2 2021 had totalled $2.4 million (USD), an increase over the $0 recorded for the three months ended December 31, 2019. This increase was mostly thanks to the acquisition of online gambling operator Argyll Entertainment.

Turnover, gross gaming revenue and net revenue had returned to pre-COVID levels in October 2020, with total handle above $16 million (USD) for the month and revenues above $700,000 (USD). Total handle for December 2020 was $20 million (USD), with revenues above $850,000 (USD).

Total operating expenses for the three months ended December 31st, 2020 totalled $8.1 million (USD), an increase from the $0.7 million (USD) recorded for the three months ended December 31st, 2019.

Now revenue a generating company, expectations are high for what GMBL will deliver this time around.

Investors can find out more during the company’s conference call on Tuesday, February 22nd, 2022, at 5:00 p.m. Eastern Time.

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