eSports
Esports Entertainment Group Reports Fiscal First Quarter 2021 Financial Results

Esports Entertainment Group, Inc., an esports and online gambling company, announced its financial results for the fiscal first quarter ended September 30, 2020, as well as an update on several key business initiatives.
Business Highlights
- Signed agreement to acquire Helix eSports and ggCircuit in deal valued at $43 Million
- Acquired Argyll Entertainment and its SportNation brand, adding Tier 1 gambling license covering UK and Ireland; Malta gaming license secured in May 2020
- Acquired assets of FLIP Sports, providing ownership and control of tech stack
- Acquired Esports Gaming League, with a history of partnerships that include Microsoft, Red Bull Arsenal FC, and Activision; subsequent to acquisition EGL announced first-of-their kind deals with LA Kings, LA Galaxy, and Philadelphia Union to be official esports tournament provider
- Partnered with Allied Esports as title sponsor of the VIE.gg CS:GO Legend Series tournament; the two-week competition drew 1.7 million unique viewers and generated 1 million hours watched, making it the most-watched Legend Series event since tournament was created in 2017
- Expanded partnership with Dignitas, an esports asset of Harris Blitzer Sports and Entertainment, securing naming rights to famed CS:GO team; partnership includes strategic digital and physical activations in New Jersey marketplace as core focus
- Partnered with Twin Rivers Gaming to launch VIE.gg wagering platform in New Jersey in calendar Q1 2021
- Working with the New Jersey Gaming Commission to launch pilot skill-based player-to-player wagering platform, LANduel
- Opened corporate office at Prudential Center in Newark, NJ
“We have achieved many significant milestones since uplisting to the NASDAQ in April,” commented Grant Johnson, CEO of Esports Entertainment Group. “The COVID-19 pandemic has absolutely accelerated the rapid growth of esports leading to mainstream broadcasts to national TV audiences on ESPN and Fox. These trends helped us set new record audience viewing stats with our partner Allied Esports for the globally recognized Legend Series, just one of many accomplishments during the quarter. We believe the successes achieved this year provide an extremely strong foundation for long-term growth while offering investors a true pure play opportunity in the burgeoning world of global esports.”
Johnson continued, “We have structured our business to deliver a diversified esports and online gambling company via three key business pillars and believe this multi-tiered approach provides investors broad exposure to two major trends, the rise of competitive gaming and the legalization of online gambling in the US.”
“As we look ahead, we believe the acquisitions we have made as well as those we plan to make, combined with a growing list of world-class partnerships, Esports Entertainment is in a great position to accelerate the monetization of our robust three pillar strategy,” concluded Johnson.
F1Q21 Financial Results
Revenue for the three months ended September 30, 2020 totaled $222,392, an increase of $222,392 over the $0 recorded for the three months ended September 30, 2019 (this includes only 2 months of contribution from Argyll because the deal closed on August 4th). The increase was primarily attributable to the acquisition of Argyll Entertainment as we are now revenue a generating company.
Post F1Q21, October has seen a significant uptick, with levels of turnover, Gross Gaming Revenue and Net Revenue returning to pre-COVID levels. Total handle was above $16 mil for the month of October and revenues for the month were above $600K.
Total operating expenses for the three months ended September 30, 2020 totaled $3.7 million, an increase from the $0.7m recorded for the three months ended September 30, 2019. The increase was primarily attributable to the increased payroll, stock compensation, marketing, legal and professional services fees related to increased business activity.
Total net loss for the three months ended September 30, 2020 was $1.8 million, driven principally by reduced revenues related to the measures taken post the regular UK Gambling Commission audit of Argyll Entertainment, partially offset by a change in fair market value of warrant liability of $2.1m.
As of September 30, 2020, the Company had total current assets of $10.4 million and total current liabilities of $8.2 million, resulting in working capital of $2.3 million. Cash and cash equivalents totaled $8.9 million and shareholders’ equity was $16.8 million at September 30, 2020.
Guidance
The Company reaffirms its guidance of $13 million in revenue in fiscal 2021 and $25 million in revenue in fiscal 2022 from its core Argyll and VIE platforms. On a proforma basis, including the acquisitions of Helix Esports and ggCircuit, the Company expects to report $42 million in revenue in fiscal 2022 with positive EBITDA of $2 million.
Fiscal First Quarter 2021 Conference Call
The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss its F1Q21 financial results. Participants may join the conference call by dialing 1-855-327-6837 (U.S. Toll-Free) or 1-631-891-4304 (International). A live webcast of the conference call will also be available at http://public.viavid.com/index.php?id=142485.
For those unable to participate in the conference call, a telephonic replay of the call will also be available shortly after the completion of the call, until 11:59 pm ET on Monday, November 30, 2020, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10011948.
eSports
Mirage Digital Announces Partnership with Team Liquid

Mirage Digital, the next-generation content studio shaping the future of digital entertainment, announced a groundbreaking partnership with global eSports organization Team Liquid. With over 35 million social media followers across platforms, 100+ championship titles with its over 120+ players and content creators worldwide, Team Liquid is the highest earning eSports team in the world to launch a 24/7 live-streaming programming experience surrounding the fan-favorite World of Warcraft: Race to World First event.
Mirage has created a new content monetization model for creators and enterprising entities, unlocking previously untapped non-traditional revenue streams. The company helps its clients with repurposing, redistributing, licensing, and selling content across numerous platforms and territories. Resulting in over a million dollars for its eclectic roster of over 300 creators, the company leverages its extensive creator network and expertise in original content development, to redefine digital content syndication. Mirage Digital is bridging the gap between creators and enterprise opportunities by sourcing high-quality content from creators and repurposing it for expanded deal flow and pipeline of distribution across OTT and FAST platforms.
Team Liquid, coming off a championship win in March, is set to make history with its most ambitious Race to World First campaign yet, with live coverage kicking off in July. For the first time, the tournament and its surrounding content will be broadcast beyond Twitch to OTT and FAST audiences, expanding access for new and longtime fans alike.
“This launch marks a huge moment not just for Team Liquid, but for the future of all eSports and creator content. We’re unlocking a format that merges always-on content with world-class competitive play, giving fans a reason to tune in every hour of every day. This is a monumental moment for both television networks and eSports to recognize the boundaries they are breaking in both parallels,” said Griffin Haddrill, Founder of Mirage Digital.
The multi-day broadcast includes full tournament coverage alongside exclusive behind-the-scenes content, player profiles, real-time strategy breakdowns, and each day’s highlights – providing an unprecedented level of access to Team Liquid’s journey and personalities within the event.
Team Liquid will bring its world-renowned Race to World First event to new audiences with a livestream on The Roku Channel in late August. Widely regarded as one of the most thrilling competitions in MMORPG gaming, Race to World First draws millions of global viewers eager to watch elite teams battle for supremacy in World of Warcraft. Known for pushing the boundaries of eSports entertainment, Team Liquid is once again innovating – this marks the first time the iconic event will be available via a dedicated OTT streaming platform, giving fans an even more immersive viewing experience.
“This collaboration is the result of our mission to re-imagine where and how gaming and creator content lives. All parties saw an opportunity to take one of the most anticipated eSports events of the year and expand its reach to new audiences through OTT and FAST distribution. This is about creating long-term value for teams, fans, and platforms alike—and Race to World First is just the beginning,” said Robin Bigge, Co-CEO of Mirage Digital.
“This is a historic evolution in how we bring eSports to the world. We’ve built a legacy on competitive excellence, and this partnership lets us showcase the heart, hustle, and humanity of our players in a way we’ve never done before—24/7, across every screen,” said Claire Hungate, President & COO of Team Liquid.
This moment also marks the first time Team Liquid has programmed content specifically for a FAST Channel, a move that speaks to the maturation and crossover appeal of eSports for general audiences.
eSports
Esportes da Sorte celebrates Brazilian culture with Parintins and São João Sponsorships

Esportes Gaming Brasil, the owner of Onabet and Esportes da Sorte, is making its debut at the 58th Parintins Folklore Festival with an interactive project that blends cultural promotion, economic development, and social responsibility.
The brand becomes the first regulated betting operator to offer institutional support to the event, which welcomes around 120,000 visitors and generates BRL 184 million in local economic activity, according to the Amazonas State Government.
This cultural commitment comes on the back of Esportes Gaming Brasil sponsoring 31 São João festivals during June in 27 cities across the Northeast and Southeast regions. This initiative strengthens the brand’s strategy of connecting with the public through the appreciation of Brazilian cultural expressions.
Esportes da Sorte’s focus was creating memorable experiences as each event featured scenography by Pernambucan artist Perron Ramos. Another notable element was the Vila Junina (June Village), a themed area blending traditional elements with interactive experiences. Classic games such as Pescaria da Sorte (Fishing of Fortune), Barraca do Beijo (Kissing Booth), and Argola da Sorte (Ring Toss) bring nostalgia to the festivities.
For the three-day Parintins Folklore Festival starting today, the brand will be energising Parintins with a series of experiences celebrating local culture. These include a panoramic lounge with a special view of the Bumbódromo, the Truck da Sorte — a space combining karaoke and free hydration — as well as a Social Arena installed in the Garantido and Caprichoso neighborhoods, featuring artistic performances, rest areas, free water distribution, and Instagram-worthy spots. Festivalgoers will also be able to get their hands on custom giveaways throughout the festival. All elements of the visual project are inspired by Amazonian art. The graphics feature illustrations by Curumiz, a Parintins-based duo formed by Alziney Pereira and Kemerson Freitas.
Sofia Aldin, CMO of Esportes Gaming Brasil, the group behind the brand commented: “Esportes Gaming Brasil cares passionately about regional values and strengthening Brazilian popular culture. It’s more than simply showcasing our brand, we want to create value for the people who live for events like the Parintins Folklore Festival and the São João festivals. Being part of these events backs our strategy of supporting traditions that drive local economies and celebrate regional identities.”
eSports
BETBY EXPANDS LATAM FOOTPRINT WITH MOBADOO ESPORTS PARTNERSHIP

BETBY, a leading sportsbook supplier, has announced a new partnership with prominent LATAM-focused esports provider Mobadoo, in a move that will see its Betby.Games portfolio fully integrated into Mobadoo’s product lineup.
This collaboration enables Mobadoo — which has an established presence and deep market understanding across Latin America — to incorporate BETBY’s proprietary and award-winning esports offering, delivering dynamic and fast-paced betting content to its growing user base. Among Betby.Games’ titles are eSoccer, eBasketball, eFighting, eCricket, eShooter, eHorse Racing, eTennis, and the Brazil-relevant eVaquejada.
As one of the most comprehensive and high-frequency esports betting solutions in the industry, Betby.Games offers access to more than 70 tournaments, over 350 betting markets, and more than 300,000 live matches each month. This collaboration will not only enhance Mobadoo’s offering but also reinforce BETBY’s position as a leading esports supplier in the LATAM region, a key pillar in the supplier’s global expansion strategy.
“Mobadoo has an excellent reputation and strong regional expertise, making them an ideal partner for us. Their commitment to innovation in esports and the rapid growth of this vertical in the region made our partnership only a matter of time,” commented Kirill Nekrasov, BETBY’s Head of Sportsbook Product. “This agreement not only expands the reach of our unique Betby.Games content, but also aligns perfectly with our global strategy of delivering flexible, high-performance esports solutions to next-generation operators. Together, we’re set to further strengthen our leading position in the LATAM region.”
José Aníbal Aguirre, Chief Marketing Officer at Mobadoo, added: “We’re thrilled to integrate Betby.Games into our offering. The depth and quality of their esports content is unmatched, and this partnership gives us a powerful new edge in catering to LATAM’s passionate esports fanbase. With BETBY’s support, we’re confident we can elevate the player experience and unlock new growth opportunities across the region.”
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