US – EBET posts bumper revenue figuresBy William - 11 May 2022
EBET’s latest revenue figures of approximately $19m is up more than 166 per cent quarter over quarter, at a gross profit of approximately $7m.
Ending the quarter with a cash position of $7.1m, the increase has been attributed to the onboarding of 1.25 million deposited customers following the acquisition of brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP in November.
EBET plans to continue to grow revenue through its iGaming, sportsbook and esports brands with a focus on the Gen Z and Millennial markets.
This includes the rollout of its esports odds modelling and wagering product across European markets, as well as expanding geographical reach and investment in intellectual property.
“We are very pleased with our business results for the second quarter, and it is a testament to our focus on creating the best experience for the Gen Z and Millennial wagering market,” commented Aaron Speach, Chief Executive Officer of EBET.
“We are delighted to see the strong customer response to our brands and the progress we are making in launching products and investing in proprietary technology.”