Esports Entertainment reports Q1 revenue $2.7M vs $9.6M last year

“In recent months, we have thoroughly reviewed our Company, focusing on the expected trends in esports and iGaming,” said Alex Igelman, CEO of Esports Entertainment. “This review involved a detailed analysis of every aspect of our business, identifying unprofitable operations and contracts. We have taken firm actions, setting the stage for a bright future. While this restructuring incurred one-time expenses, the long-term benefits will far outweigh these costs as we continue to expect a yearly reduction in operating expenses of more than $4 million. This is a transformative time for the Company, marking a fresh start and forging a path towards maximizing our success potential, which we believe will lead to substantial revenue growth and increased long-term shareholder value.”