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Tuesday, May 24, 2022

Allied Esports 2Q Revenue Rises

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Allied Esports Entertainment Inc. in Irvine said today that revenue rose by $800,000 in the second quarter and that the company may explore opportunities in online entertainment and “real money gaming.”

Revenue of $824,609 in the three-month period ended June 30 was 33% above the amount in the same period last year when the company was hit by the effects of COVID-19 on its in-person business.

Allied Esports said today it is “focused on using its cash resources, including any cash resources that may become available as a result of any sale of the esports business in the future, to explore opportunities to acquire or merge with a business including, but not limited to, a business in online entertainment, real money gaming and other gaming sectors.”

The company announced the sale of its lucrative World Poker Tour in June.

Shares in Allied Esports closed down 2.9% at $2 apiece for a market cap of $78.3 million.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal

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