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Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the "Company") highlighted today the strong start to calendar year 2022 for its iGaming division. The Company's iGaming division, which holds five Tier-1 gaming licenses across Europe and the United States, has delivered seven consecutive weeks of Net Gaming Revenue in excess of $1 million to begin the quarter and 10 straight weeks in total dating back to December. In January, the iGaming division achieved their highest revenue month with more than $6 million. This month, the Company's casino brands have reported record levels of first-time depositing users since the acquisition of Lucky Dino a year ago. Additionally, cross-selling initiatives across brands have been a strong tailwind to-date in 2022.
"Despite the challenges reflected in our second quarter fiscal 2022 results announced earlier this week, our iGaming business continues to see strong momentum to start the calendar year," said Grant Johnson, CEO of Esports Entertainment Group. "Consistently eclipsing net gaming revenue of $1 million per week is a testament to the success of our work to migrate off of Bet Construct and onto our proprietary Idefix platform."
In addition to the growing momentum for its iGaming business, the Company's VIE.gg platform is completing soft play in New Jersey, which allow bettors to wager on their favorite esports teams in real-time. The Company is eager for the inaugural launch of its LANDUEL peer-to-peer wagering platform, which is set for March 19-20 at the Hard Rock Casino & Hotel in Atlantic City, New Jersey.
About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com
Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com
JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114849
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