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ESE Entertainment sees its 2Q revenue climb 350% as recent acquisitions begin to pay off

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ESE Entertainment Inc reported second-quarter 2021 revenue of $716,293, a 350% year-over-year increase, following the company’s acquisitions of K1CK and World Performance Group Ltd (WPG) in 2021.

ESE ended the quarter with total assets of $6,087,941 as of April 30, 2021.

 “I am very pleased with the progress of our operations and financial position halfway through 2021. We managed to improve our margins significantly while growing our business quarter over quarter, which was achieved by focusing on key clients and our strong M&A (Mergers & Acquisitions) strategy,” ESE Entertainment CEO Konrad Wasiela said in a statement.  

READ: ESE Entertainment’s K1CK esports team to compete in $1M Apex Legends Global Series Championship in EMEA region

“We look forward to a similar growth profile over the next half of 2021 driven by further growth from the aforementioned M&A and other material contracts the company has been working on,” Wasiela added.

The company noted its 2Q numbers include WPG financial results from April 12 (when the acquisition closed) to April 30, 2021 only.

It added that WPG’s assets generated revenue in excess of C$14 million in 2020 and the acquisition expands ESE’s esports infrastructure services globally, bridging esports companies with their fans and customers.

ESE also revealed that it continues to set its sights on both organic and M&A growth after the company recently raised net proceeds of about C$7.9 million from a bought-deal financing at price of $1.40 per company unit.

As well, ESE said it will continue to pursue new partnerships to strengthen its merchandise offerings and expand media outlets, while hoping to begin expansion into the North American market.

ESE Entertainment is a Europe-based entertainment and technology company focused on gaming, particularly on esports, with ownership of multiple assets and world-class operators in the gaming and esports industries.

The company’s capabilities include physical infrastructure, broadcasting, global distribution for gaming and esports-related content, advertising, sponsorship support, and a growing esports team franchise, K1CK Esports.

Contact Sean at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/955772/ese-entertainment-sees-its-2q-revenue-climb-350-as-recent-acquisitions-begin-to-pay-off-955772.html


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