GMBL - Earnings call transcript Q1 2022 | Esports Entertainment Group, Inc.

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Operator

Please standby. Good afternoon, and welcome to the Esports Entertainment Group's First Quarter Fiscal 2022 Conference Call.

As a reminder, this call is being recorded and all participants are in a listen-only mode.

We will open the call for question-and-answer after the presentation.

On the call today is Esports Entertainment Group's CEO, Grant Johnson; and CFO, Dan Marks. the to and that for prospects safe provisions like future remarks purposes would Reform harbor plans Litigation expectations, constitute under company remind XXXX. various everyone about of Act The of Securities Private forward-looking statements these actual with Red their described subject to may to in including the risks differ materially the statements risks Cat forward-looking are filings uncertainties SEC. and cautions that indicated company's that results cause from those of conference intend occur Any Monday, reflect today's of forward-looking as on speak the date, not circumstances this after XX, does call these statements to and XXXX, that to events or November only made today. any forward-looking company statements update With turn Esports call that, Group's to like over the to CEO, I'd Entertainment Grant Johnson. Please Mr. go ahead, Johnson.

Grant Johnson

of employees, in prior as also from our you we the and the our fiscal reported for hard in execute testament for came growth plan. period. of our markets second is This that front off up fiscal XXXX everyone phenomenal $XX.X call. We're fourth work of full on us NASDAQ from million, first our the Revenues we us which dramatically the the and function to a a opportunities as $XXX,XXX a execution up the addressable earnings year listed Thank significant strong for a XXXX to quarter and joining company. fiscal across quarter Thank start our at XX% quarter continue you. in is year to

operational begin iGaming. with with start I'll our me since highlights Xst. July Let

fully global on owned multi-brand platform. is sportsbook a and a Our strategy built to technology create casino

to sportsbook is customer Bethard begin seen gaming Bethard brand has – To deliver. team licenses expectations. and the July as offerings a it our say internal Bethard in operator, also without sports safely brands new over early and well quarter, August, industry registration Pay-and-Play. to in-house betting have rapidly we've launched by affiliates. deposits a of the growth of significant platform period, the iGaming traditional XX,XXX brings completed progress of Spain. existing revenues This Since active into rapidly allows good date completing basis here. the casino growing our the a customers across increased bringing annualized began On in also They time million acquisition, base. growing And on revenues betting iGaming our for online we've in our as Fiksukasino integrating our proud players continues in sports Fiksukasino Pay-and-Play that in million came EEG into the as Sweden bypass we'd $XX reliably to we acquisition Finland process and quarter-over-quarter. valuable we delay. made concept at requested casino The an Pay-and-Play – BXC and representing called our signs Bethard In XX% exceed I'm our brand feature players was able XXth, our cross-selling our play more and and consuming been all Our across players widely among process than it $XX.X to

anywhere this home Fiksukasino is forecasting the forward, we're the then €XX compared is and million time old our for better. Looking brands XXXX fiscal XXX of your month-over-month up comfort even first is to deposits on for brand, over convenient casino from mainly

with during efforts trading its differentiate or to consumers e-sports rewards biggest second economic resources in SportNation the great EGR from nomination by to windows, of to and because a Brown, market marketing to crowd. received in play to to our platforms. the product. shoulder go these this of St. under SportNation Android can George's. some which it's brand out Betway. brand emerged very New iPhone work drive worked Championship for in-house our stand us Golf allowed This September, was Jersey the as marketing Oddschecker want remain brand highlight optimized for market aggressive as mobile pricing Awards we on clickshare prepares I strategy in-house allowing also Ryder and proprietary Vi team, our to names open. example allowed GiGi at performance our With including truly how place for the in lets closely in site The Royal in positioned a driven in Our outcomes. The Cup shoulder flagship SkybetXXX Open the the trading and And The attractive the Penny SportNation business, same the favorably

week, last the submitted years majority bill definition This a New October are paving the of e-sports way Gaming that our into of Division signed participants contest of to Governor, for the revised Jersey waiver for forward event our step Jersey sports Just betting law New in where a over on Phil a the major Murphy, Enforcement. XX we states. On of age. transactional is ambitions the XX, and the

you as our given states from which as has EEG was we know, stringent regulatory significant completely most you growth the month, significantly entering weeks launching as agreement for discussions currently XXXX. official their customers we gamers. Jersey's program the with a and games, were the more and beginning multiple Colts casino actively we've segment’s network. on prove up fans Since We North team IP market partnership longer is Atlantic City from the become six-figure customers East team period opportunity add product. are this and the across Congress a is time screens bodies get to major Omegle New new, to contract the our Philadelphia we prove to We for the the Coast us This revenue during and have the about two we broadcasting onto that move more of We're finally Gaming XX,XXX casino Naraka: faster recently recall initial product New state bring and While our ago and sold business. $X.X have a are NetEase enterprise into the start. and announced to and from the greatest year looking integrate offering. very team's three time, working interest the Bay in the a more. to allow to we offering, the home Tampa BXB reputation their their with the England infrastructure six-figure ggCircuit, immersive was XXX American at This the gears to and of first family signed. has largest which EEG off than process excited screens developments taken in same the as revenue would Omegle XXX to offerings operators. The period, casinos ggCircuit initiative pipeline, behalf to At launched games’, at which seeing other this the million that bundle launch to several teams With Bladepoint. e-sports ggCircuit. games. is to publisher quarter underpins result, we for approval certainly of play Patriots, an very Helix EEG has first pro expectations, turnkey October, platform the our to in additional provider the in The of also our teams the our robust centers, last gives is platform. EGL introduce EGL, more product, the Indianapolis and contributor continued In type various Union, marking tournament prior development integrated EEG continue stretch. a over product XX,XXX Shifting software solution a And New Revolution, it XXXX. entertainment ClubClash Buccaneers, significant to long-term of looking partnership within last the with of acquisition strong The expressions example of month, England published

past, centers. Stadium gotten digital game in physical at As has are at in looking these attention relationships augment Patriots Helix now installation Gillette to also their we to stadiums. teams in the the who many ways install we've The Foxborough game exploring with are of installations our centers noted

first centers, we've in far, UCLA Ohio, the second Helix and North at in the America, two Hall Village Canton, the at Fame new of the So announced Student one Union.

campus We two center one XXXX, expect to the winter return And around break. following approximately UCLA next plan our time the the students for location open the years. open XXXX to per is quarter

data in the East partner Finally, Jersey and New interest debuted Atlantic going City, and upcoming It announce at with LANDUEL in weeks. Atlantic And testing we October. casino with Congress lab many operators last this partnership regarding was casino LANDUEL to is in tremendous spoken a the opportunities. currently we we City through had The the the Gaming from gaming Coast enforcement pilot project tenants. met also expect software and coming for the

the I call several Before funds Dan, Group at stock billion. million acquisition, I energized this year to payment Friday, up resulting cash briefly, want excited to gross goal On of strategy, about our leaves fiscal the recent proceeds growing raise. increased the with of turn $XXX on price supporting of our a results with our our financial for the capital capital convertible in continue visibility sheet of exceeding announced balance markets. comment XXX,XXX the strong allow $X final with we Bethard Gameday and to We're $XX revenue we to make shares of look to us the in start to achieve us only These of a which to not executing and year, to U.S. shareholders the growth our million throughout with forward year.

Dan, through please? can you us numbers with that, the take Now

Dan Marks

today. everyone again joining you, Yes. for Good Grant. Thank us afternoon,

a Bethard in XXXX rise time. that the fourth mentioned, quarter XX% iGaming $X.X of $XX.X million quarter Grant up million Bethard the in quarter revenue Gross million, margin first a of fiscal of revenue million. in provided fiscal fourth compared Gross the July net from versus to of As The quarter up acquisition completion the fourth fiscal and $X.X or million business full to quarter first our pleased of quarter the third profit from up XXXX the we're $X.X XX% of million contribution generated XX% quarter was XXXX $XX.X compared in and for from with the for of quarter, the quarter XXXX. fiscal of improved XX% of announce gross the $XX.X XXXX. for million profit $XX.X to we

monetization growth strong engagement and XX% flagship our drove average by through grew versus the user revenue within also sportsbook Sportnation.bet ARPU We as UK through our and quarter. Ireland brand player within current measured per business,

with intra-quarter calendar. XX a seasonality sportsbook and reflect Our results lower limited July reflecting typical August

record had deposits we per of customer September, in $X,XXX. While average over

the acquired NFL signed holds a of down the months Quarter-on-quarter full Bay of new with General So, was the the quarter, the partnerships the from four marketing quarter X.X% last including and fiscal QX intangibles from for we previous and the million up operating in quarter, in EBITDA, Buccaneers, but million, we million whilst spent exclude Sales last $X.X amortization Phoenix GAAP costs fiscal line issued related This marketing on as the $X.X betting QX. and standards, classified and were we're in X.X% release in our $X.X by a out liability. of of up $XX.X accounting value to as hold our in administrative season other expansion stock-based include agreements Bethard and adjusted well in-house group $X.X X.X% broadly $X.X compensation. quarter, soccer with convertible $X.X continuation GAAP that with and in million Tampa Under the average an of investment development such was depreciation, million we items high was and warrant Colts, QX, the ongoing season. income, from quarter, $X.X took by non-cash hold fair during million Indianapolis the Chargers. launch to of first XXXX, Adjusted platform. May linked was value warrant adjusted million as offset senior interest income EBITDA in U.S. professional $X.X of liability. European payments to as of decline million million And the of in as period fiscal due and liability All-in-all, for inciting each negative the roster warrants stock in $X.X sports and were in XXXX. achieved million of are an our $X.X Casino connection our $X.X note fiscal million slightly These $X.X to our side the net quarter driven to at a the million change in required on driven versus QX loss period from up the favorable net costs, team liability sportsbook QX costs warrant statement was quarter, of in for million. In reporting $X.X operational for million, XXXX of this XXXX. period. loss our update million X.X% to was LA the that with to to in negative from by expenses its in the team price decline the $X.X in fair the with technology the to compared fair in adjustment of a basis $XX.X the in and loss million total QX value acquisition EBITDA a resulted quarter. net the

liquidity. and sheet Moving onto balance our

expenses. offering of growth. equivalents ATM fund million to medium to million new it in and company said, our help balance to preferred term quarter While gross capital, by offering with stock we the and avenues on self-registration cash proceeds need program us end to we $X ended the That opportunistically additional our quarter, existing of and additional of access the pursue give operating should total our subsequent cash sheet, raised equity the flexibility $X.X

are forward Looking guidance, excited business. the to our we XXXX iGaming and growth momentum of fiscal about

of our along during Spain opportunities material our with the EBITDA Bethard and in XXXX call, increased acquisition licenses Sweden new streams recent gaming July new and mentioned brings As two revenue between year-end cross-sell brands. fiscal in and

consolidation digital our synergies. businesses expense ongoing gaming our cross-selling And to us and We the have efforts. exploit started both allow will of revenue just only really

be the example, next between our cross-sell on and player a to time. than to offer able from or more terms first we ARPU brands who been values registered only lucky either a sports in For times X month, have for Average can other to sportsbook be our casino will sports product casino casino. XXX,XXX customers diner customer plays valuable up who

and opportunity esports for solution side, combined a values, sports a our real will new et New for integrated other a and the with of dormant growth game year. see namely offering platform number in Furthermore, the we as pipeline we alluded turnkey our see well initiatives very reason active do drive LATAM Canada launching profoundly the of products, we for alleys, matter any have the opportunities options reactivate states So, expanding to expected start. potential strong betting in as omega and will players centers, esports off forecast On player to entertainment that provide will a coming Within Lucky deeper and Jersey products growth Dino further a ggCircuit, launched offering. months. is increase iGaming bowling cetera, a existing competitive We jurisdictions with the the we division. casinos, license EEG robust to come betting into our weeks material Grant across sportsbook rest of

grown roll has out May currently expect software XXX it over it centers to launched – we more and our roll mining mining. in months land we than out crypto Our to for using months since

schedule with open year We’re Helix we’re squarely And underpinned we to initiatives year to student we new versus split time, tournament fiscal this customers, iGaming our positive the which progresses. the also open teams our a partnership in last from mind, In closing, player the in clash approximately we guidance updating be And XX/XX the suite. application Q&A for addition expected betting we and skill-based that, we center – development the in achieving cross-sell allow games of XXXX within Hall UCLA EBITDA and drive throughout year. monetization At year EGO still finally, for of emerging LANduel, to of the our – regarding the will as to significant marketable hugely division, end at is the enhancement still are adjusted look EEG opportunities open for of the by iGaming and of will proprietary launch we XXXX, opportunities launch which the this turn our product betting With achieve I’ll these Ohio calendar are excited new the have the in Fame online adjusted the club the to January, to call a in realize due as will Village exciting the player And several market to plan. later we advance annual the to these expense and another to revenue are announced not with platforms. businesses. continue with of month group numerous session. this to and on in between next late new same access opportunities. union million the to all guiding Centers a new focused providing our announced $XXX further our by expect forward at still EBITDA, back savings operator time, With year our are to for benefits our revenue XXXX. we Whilst expect enlarge business, execute partnership

Operator

Capital Instructions] Kupinski you. will question Thank come our Michael [Operator first with And NOBLE Markets. from

Michael Kupinski

you would your achieving was you thoughts on give EBITDA look First how Couple bit of there mix, better just margins a little your gross the looking first for. your margins a maybe Was looked product congratulations and them I like bit on anything you at than in was quarter. in of can, can assume those I Were better us forward? that, but going margins gross about all, here. questions adjusted it your expectations wondering on if gross little doing

Dan Marks

quarter-on-quarter didn’t prior quarter the we Bethard. think quarter, during with on the in good achieved is margins slightly obviously the the addition Hence, which up. why I overall of we have Bethard,

forward still margins or going XX% think, what I we is modeling. high-XX%s are

So, we’re last quarter. slightly ahead

Michael Kupinski

much the And of if pardon in me Bethard I in this. me, miss quarter? may tell you Can terms did how revenues contribute

Dan Marks

of off Mike, have top head, back will to the my you come don’t I but on that. I

Michael Kupinski

Okay. to to going CapEx do those doing is you college spend you’re And then then one the the that? quarter. Helix, your campuses little in campus? mentioned What per about Can the plans and terms – for bit a your talk per of you

Grant Johnson

existing the of and Grant of Well, there there’s in it’s the over. the we a of a when condition – the factors number take Mike, of it obviously fact here. depending on number size There’s facility space

$X.X an ROI from We XX about on So, $XXX,XXX these of to look it at could on million. facilities range average. months

Michael Kupinski

start terms you. of to in kind then update you, when an transactional Got And you Jersey, but of just give you you see you give know revenues? us Can states New plan to and mentioned a can when come us for asked options I states. that should really license in might waiver, or other factoring any start additional about And in? roadmap on then in? bit little where you thoughts we – see you a

Grant Johnson

Sure. course, call have has And on our we Well, Europe. that five licenses late that would experience be Jersey. we optimistic everybody based spring, this We’d five that I early was licenses, the of one was in up be knows listening summer. very to tier with the in

esports mind, to the the we of we to week, keep was the law. apply year state during have last esports a wager governor Jersey. first New until COVID However, hadn’t It signed into up in company and in were

at working end Jersey betting against platform. we That we’re us a in the moving of on before would up all of our very the esports calendar few quickly. Vie.gg, year for the and a things based, terms this New be market surprised had conversations if state our of Congress, we making not in So, said

Dan Senate. likely was fellows of language Ohio on terms in that presentations here, me we Jeff of regulatory call based esports be states framework Those looking in in into next aggressively quite the feel would a for two. at After be actually are will next the series premature interesting, two and presented moving getting Ohio very that have next Those are instrumental but to And those state, the it’d this the strongly We the most added with market. Canada’s others there’s Ohio. two point. on In probably the us. Also, to are mention at of be likely largest we next gambling Ontario any state the jurisdictions. that most the as

Michael Kupinski

of would point? what month And Bethard final in company to this adding then terms per my burn mix, be the now for your at question the rate

Dan Marks

– cash under $X million per just under burn Still month. just

Michael Kupinski

I’ll ask right, All let Okay. questions. others you. Thank

Operator

And question our with Edward from Engel will next come ROTH Partners. Capital

Edward Engel

just taking over acquisitions. the sheet the all of ATM? talk maybe question. last on the just then cash next your the rather for to talked about you thinking about was the how talk quarters, convertible shelf preferred I results Hi. and and could maybe about few about some such you than completing raise decision the wondering, avenues you’re balance the via year’s congrats Thanks Again, the as

Grant Johnson

to benchmarks down. as tradable our this Q the and The gambling brought platform and just at partners to Sure. these extremely prep strong terms launch dual auction the benchmarks two our to on K strong we’ve in other going to of mentioned the not and for an attention of the land our get some by the Jersey Esports. New of earnings Obviously ATM point was our in share market allowing by price, time, banking put pressure

pull have previously. you opportunity acquisition of shelf kind ATM, We is draw and if presents in and were elected the the options position a that use So, on going share where I price, well we shelf. hindrance do more the That’s way guess, to to focus it know, We say. being not may able on our be we a we to, itself. of having the can a to the just as how shelf remain down efficient used have would

to our a shareholders for affect but look do financial continually we So, way. all negative available – options that those in options we have us, not

how into the credible came tradable prep that’s really So being.

Edward Engel

know just but would the of that’s And then quarterly – look I not just kind like. quarterly giving revenue Yes, what maybe could helpful. great. Okay, of cadence super curious directionally guidance, just we

should fiscal of given of and get BetHard an the half just to quarter say benefit assumption calendar, that a the revenue you’re year in be Assuming than probably the some then weighted towards of safe having probably sports the more to half. from first Is ratings? going entire fair terms you European second that

Dan Marks

Yes.

towards fair I revenue. assumption and we’ve that’s always think in our waiting a built very ended back

it’s split to be a probably on I roughly towards waited XX-XX going think HX.

place. As I of an earlier, the This units mentioned of we’ve only quarter we’ve really terms business all capabilities. scratched quarter past very cross-sale been our now surface has much our And got integration in getting the initiative in we where be main benefits cross-sell cross-sell into the sports to, brands really from book the with Lucky have casino our to Dino the December will from start partnerships. these

weighted is to an definitely it So, the guidance. HX

Edward Engel

lastly, opportunities here. some customer what advertise through squeeze immediate Thank just strategy New get for you to go-to-market Jersey acquisition? do it Is the be Great. would And within book any or like these going of that affiliates to look you. then the approval marketing Esports see do driving Once Helix for you Centers? on mostly

Grant Johnson

biggest advertising be center North our Jersey. New is Well, in definitely second Bergen in

and, up that a gambling North with outlets the have terms only American active in implementing strategy market. We working of be media site in and licensed we'll esports that the advise PR and in Vie.gg new is

from expect get So, we attention additional that. do to some

we and do course, have Jersey We with our relationships as of Helix center New Blitzer Dignitas, there. mentioned, have major Harris in

world sports also with state We the throughout traditional influencers that the gamers. advertise are the in esports will in and

their we quite pro that footprint As with a the teams game. seen, large players have you've

that in the using our be promote Arsenal we'll tools of to the platform. all So, that launch

Edward Engel

Great. that forward when you. yes, And now, Thank to gets approval? looking

Operator

from And our question Benchmark. come Mike with Hickey next will The

Mike Hickey

good. quarter. Hey, strong on Grant, you Dan, Jeff, a are hope Congrats guys

EBITDA level to you're positive Just a curious in Dan, assuming just [indiscernible]. questions. QX, couple there the revenue

Dan Marks

grab, didn't didn't quite I question? Please Mike, I quite that. the hear repeat Sorry,

Mike Hickey

Yes.

revenue QX? figure the to for trying Just positive assuming out speaking in level, you're the

Dan Marks

to How do you we're in think QX revenue get to… going much

Mike Hickey

Yes.

guided level QX. to to You just that? trying I'm the figure buying in EBITDA revenue positive out

Dan Marks

revenue. terms I think $XX the we QX in, by of lows that the of by in million be should in somewhere sort expectation mid-XXs is

Mike Hickey

announcing Okay. And the you, just sounded Thank gave you so close Grant, you're you. partner. sounds like it feedback just like to there curious

Just sort of opportunity expand of on you the Lando. if curious can

Grant Johnson

to we're was gaming to you, Yeah. Mike, competitive, play a skill-based is we rollout in gamers be expect going received community, product, Lando playing game, are we're well Well, the there and and extremely Madden not first. this

house house. betting $X, like $XX, poker, the will The take $X, a The the there'll pot. commission will in where whether winner win pot. a So, be

to some on this extremely they have fit. somewhat for Esports said, at physical to that really half once two their expect and figure received platform. as time, and we through integrate and centers infrastructure our looking how who or do We That out XXX it traditional casino been plus wider you're product be able launch, first, extremely aggressively probably through plan operators roll how the Centers was well interesting the then it plant into received to to that inaugural once through get to million ggCircuit Helix we aware. And a were never

that LANduel, operators. multiple have with we a to we makes in what are conversations casinos. engaged Now that result, physical in sense could betting like And these as look a product of

we've put omega already systems centers figures, six in turnkey as malls, the call, are large installation, each In mentioned these in our two standalone turnkey and operations. of addition to are on that, these

of the casino So, vertical. for and we combination the suite LANduel, a that's BXB now omega products the of have the

Mike Hickey

the Lucky much can, talked talk the system opportunity me relative book. you as and casino do you you expansion think about want touched as question book book of desire sort of I here, as open to the Nice. like upstream have demo open it, sort of is just UA casino? Dino market Can here do Thanks, overlap you you or players, certainly sports would of luck. betting Thanks the Grant. sports you on casino, that LTV? is the just convert the sports about a see as are the casino book conversion sports a strong Good think spend to sports Last and versus for now versus well how, in you on to that guys. that

Grant Johnson

is SportNation.bet a sports comparables acquisition brand. main XX% main casino players, brand, book of over comparables brand, led our, XX% book we've much I a casino one towards – of time convert those yes, onto one been our which a onto is but sports is book led activity. able sports is our of our is to entertainment of our think And to

book the more than customers, times a a customer competitors, certainly we five into So, them customer are we've reduced sports and customers some as market hugely that on casino same reverse already not also, times, their that and or sports much if out we already can can the will got we the with the get be we've players, integrated it go book casino the onto to casino worth just platform we already casino that that an two to got platform. do see reasonable book acquisition those ability on offering customer. a playing other they playing be to using. sports to a up do cross-sell players playing the think Obviously, on hope just currently we've be rate a a can conversion know customer book XXX,XXX as we only And is sports that got And registered details. products

for time with reactivate have huge there opportunity that offering. see active been the to with are do players us players the a sports increase currently but a some dormant with also that to from values ability book we So, us, any

Mike Hickey

guys. Thanks

Operator

you. Thank

– Wainwright. Buck from our come next and Scott Our next will question H.C. with will question come

Scott Buck

be if guys. afternoon, franchise host good the during was any helpful? so, curious, there any tournaments what partnered did color I'm you what feedback, was turnout, quarter? And would Hi,

Grant Johnson

no, In terms didn't. we of platform, EGL the

one will first the with these of From much that we including new Cavalry, going The place tournament forward, clash to major the the it'll be is on. from this with club have in first be tournaments and one format. from takes weekly this or that one time moment point this, going off pretty moment

they beefing depending team fans X from going these the marketing to fans our these up We internal might range of tournaments, pro-teams, franchise. to to the manage mean, because on million XX are million be up I

of they'll rolling forward, mining. gaming terms of subscription do the we sponsorship, do course those their we have we crypto home, be opportunity ways we're are currency move product So, to as we be, the and fairly high out that participation will at LANduel their in computers the have multiple for because expecting of to monetizing going have

other in going with we're of these. host roll So, revenue a opportunities to

we excited, pretty right those. to the of is no, we're So, any your question answer but didn't have

So, we forward. expect that the going to materially till numbers start contribute

Scott Buck

Grant. I then mean, guess I incremental is about way think us of to best each right. the for value that, added, what's team appreciate the of, my follow-up I

opportunity we the over a is one take How there period? what think So, revenue three-year example. the culture or about do

Grant Johnson

done get roadmap started before, agree whenever it's trail don't can you you'd nobody's doing or where and blazing you're when little think this point of blueprint fractions you for a a down percentage becoming or Simply as do accretive us. because they to Well, to have a however difficult forecasting. forecasting, accurate to follow, a your I lucrative –

about participate one-third need their the opportunities these particular, teams you to then in to from when of the there. Given of down it percentage takes in only and the on And size the profitable. that point layer other very the the subscription sponsorship of make monetization have, side one we just fan base we of NFL databases

have core give we numbers. operation, be full until So, won't able the to accurate we or

rate like if one-third if point, our However, of is percentage chances. our I – a our target a

Scott Buck

just threatened what last in and revenue guide into and factored very on you New point then No, from me, one do running be up million for $XXX XXXX that helpful. not curious And does Jersey if again, Jersey? at beat guys to up you're to that's New have what not but your start I'm

Grant Johnson

Jersey. are going and I'll the fact, get but a Dan let we That's take question. running New to Well, up

Dan Marks

amount Yes, total we've a year year. fiscal this factored for in the of very only very, revenue prudent Thanks Yes. Grant. sort range in for $X million of Jersey in the

massively we'll those, So, for only forecasted And going fiscal very see it's that to but as we very, things of we it's hoping projections XXXX rollout. for – a Jersey. are exceed their in prudent. be wait kind really million New – and $X We're again, a product there's stand, the

Scott Buck

I you. That's Okay. appreciate guys. very helpful. time the Thank

Grant Johnson

you. Thank

Operator

And come Lisa Research. Springer our will with next Singular question from

Lisa Springer

think some first modeling in G&A the question G&A we about quarter My expense. the was this of year? balance I should And during regards you. G&A was increase how time. is for wondering Thank the one of to

Dan Marks

Lisa. Hey,

on basis, basis, the say for about I adjusted would within said quarter. an adjusted $X EBITDA I at G&A, we're So, million

So that's removed anyone offs or item. non-cash

a number we're material don't efficiency a foresee to find in we're probably I consistent if from – I just resources, $X looking think increase, reasonably anything, savings. at So, million now with that a meeting perspective, from G&A

can per I $X perspective, that million you So, from model around quarter. think

Lisa Springer

this make do the small it, about, to kind you. more Grant And Is we prices? to might sure terms acquisitions? organic for of, think should and is in what company we to about pick I'm going of growth, Are some M&A – in I some integration if wondering pieces available we was Thank most if very expect That's think one XXXX? you Okay. but helpful. activity want up attractive should the on is they're there's be focus small you of

Grant Johnson

right If the have your lineup, there. prices GAAP just, them. focus right you last of our presents we assets, will you cross-selling technical they taking at with and our all acquired of answered Well, the course that is we because the line opportunity and look price, mentioned, of on getting out and if most in at making a But M&A it got right now seriously you just as the we sure fill the earlier quickly, look we and they're attractive question they're them. definitely. efficiencies a this we're But here have itself at largely out opportunity will them of

Lisa Springer

you, Thank Grant. Okay.

Grant Johnson

you. Thank

Operator

conference over conclude I'll for additional the does turn that session. now remarks. the to any question-and-answer And back you. Thank you

Grant Johnson

time very for bodies $XXX XXX only short about gone XXX,XXX to mind, Again, XX that NASDAQ exciting effective that a thank went everybody. ago the to us. on it we've and forecasting Keep revenue months you was we million. in a a time XX It's and from from

now. projects being largest our launched just of are Some still

we’re was Our project at reviews exciting rolled LANduel out very and project to initial Mega our the Gaming Congress.

our be, for continued confidence continued your you as should So, shareholders and I the hope from would I growth that support. expecting your reflects would Thank market. and in be that itself the, think innovation

Operator

your And you an thank thank do excellent for conclude participation. that Have We day. does today's Well, you. conference.

Grant Johnson

Thank you.

Esports Entertainment (GMBL) 16 Nov 212022 Q1 Earnings call transcript