Esports Entertainment Earns $222 Thousand in Q1

Revenue earnings for Esports Entertainment, a subsidiary brand of Argyll Entertainment, have proven profitable in its initial quarter after acquisition in 2020. Acquisition followed after popularity in eSports betting was proven during the Covid-19 pandemic. Argyll Entertainment purchased the digital sportsbook, taking ownership & creating promotions that focus on their branding. It’s resulted in an influential payout that’s seen Argyll Entertainment earn $222,392.00 for Esports Entertainment in Q3 2020.

Financial experiences for Esports Entertainment in Q3 2020 was $3.7 Million, with operating expenses ending on September 30th. That’s a substantial increase in operational costs when considering Esports Entertainment’s first ever quarter, which saw $700k spent towards operation funds. When questioned to why operational costs increased tenfold for Argyll Entertainment, representatives clarified that Payroll & Stock Compensation sustained higher finances than anticipated. This extended towards Marketing & Legal.

Losses were sustained for Esports Entertainment in September 2020, with $1.8 Million lost because of the Covid-19 pandemic. Argyll clarified that profits increased tenfold starting towards months end, with former profits earned in August & July sustaining the overall gross profits. It would be confirmed that October saw an uptick in consumer activity, with analysts now expecting the 4th quarter for Esports Entertainment to have notable profits for years end.

The CEO Reacts

The Chief Executive Officer of Esports Entertainment spoke on the prominent quarter, where Grant Johnson experiences that throughout the last year multiple milestones have been accomplished & that is thanks to Argyll for acquiring their brand. CEO Johnson evoked that Covid-19 allowed for an accelerated growth of eSports betting, which enables mainstream broadcaster audiences to become familiar with the new form of gambling. It’s created notable trends that’s allowed for record-breaking registrations with their brand. It’s hoped that moving forward, foundations towards continued growth will be created.