AESE - Earnings call transcript Q3 2020 | Allied Gaming & Entertainment Inc.

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Operator

Greetings and welcome to the Allied Esports Entertainment Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference to your host, Lasse Glassen, Investor Relations. you. Thank

begin. may You

Lasse Glassen

Good quarter welcome results operator. Entertainment's Allied XXXX third conference afternoon you, to and Esports Thank call.

Tony and Speaking Allied on Pliska; question-and-answer Esports Financial and Ng; leading who WPT-CEO, for the Operations, Esports is Company's Officer, Chief the Entertainment's Chief Jud session. and the Executive Officer, Adam call long-time Hung; the today are is available President Hannigan, Frank also

forward-looking management, contain please responses Before statements. remember goal intended Actual our factors variety targeting, forward-looking words statements. I over a these turn may, the to and may the the materially should, and of of results factors prepared are Exchange plan, discussed could, from documents as public in identify to Securities such to questions risk due by the statements, intend, and filings, believe, forward-looking call Words including Commission. remarks anticipate, in to expect, estimate, variations similar that differ expressions with will, such filed Company's discussed could those and seek, judgment, implied

update Company whether are events no believes new or expectations Company statements such will forward-looking that it upon attained. future no reasonable reflected as assumptions, be a The in result the the can to its statements, expectations obligation give Although any information, based forward-looking assurance undertakes of otherwise.

to that, of Ng. and Entertainment's to financial In useful measures to it's addition, explanation afternoon CEO, certain over on Frank my Company website, financial pleasure The Allied available Company's measures. this non-GAAP are the appropriate call release, measure of such investors. why presented earnings was the represents believes the turn information Esports presents the this is financial and With non-GAAP Frank? the call now GAAP which issued in to reconciliations Company's an

Frank Ng

everyone significant we that third our delivered the us despite persisted throughout faced you solid first the half pleased quarter. the extremely with and arising joining afternoon. Thank challenges from business, quarter we the in pandemics resiliency for thank the COVID-XX of of this XXXX, I'm And the you, Lasse. performance in the

in results limited company business onset impacted prior business of gatherings our operational including of this extremely our mandated driver strong the While pillar part of globally, model for primary both the the focus for with this, interactive the Allied our restrictions, growth WPT continue Esports social in-person and during pandemic, the services to by was quarter. adapt third challenges to light the content to multi-platform to ability very our be and pivoting In pillars. the operational pleased team's successfully of to our I

in mitigated growth services multi-platform we of and content [ph] continue pandemic communities. revenue quarter serve our pilus poker third Esports significantly as the interactive the Solid on to and the businesses, impact

make addition, million. to we as Tony to debt straights In further, aggressive convertible $X.X will principal our down pay discuss

a believe that monetize ahead, as to made look pillars As strategic we of we pivot three all strategy. the accelerated the result pandemic has our we ability our of

to and recover the continues near believe Esports see pandemic environment impacts our Importantly, do a on better term of opportunities, put to the lining and our in position Despite had great the full for we customers a longer we has term advantage the as growth Allied in silver future the significant us this has financials, take serve normalizes. and economy WPT. that

on the options is void clearly the and the by during rise. As its and popularity pandemic, is fewer stay-at-home gamers gaming entertainment abide with restrictions filling

third X.X gaming platforms to quarter. jumped just more declined live watching from more are gaming. per and is in XX% million WPT, gears Esports live-streaming million third ability billion week of for the revenues with span, And quarter gaming. year. quarter before third results. spent hours XX% XX% With plus quarter relative the gamers gaming in our esports industry $X an pleased and pandemic. The who expected time spent streaming side, Audiences finally, Similarly, to all from XXXX. more proportion operate across compared to pre-pandemic on let's to the COVID-XX. a gaming X.X% increase is Year-over-year, review experienced content results. during compared restrictions spending Considering watched significant both we in Allied the is five the has last our that, Total post-pandemic spend money shift to the On industry events of are had to gamers being additional the levels the and our of hours in-person for increase we in eSports up on QX XX% $X.X The content. XX%

the generated as interactive a we from solid content. as services strong quarter, well growth revenue in in revenue, a increase During multi-platform year-over-year

However, result was COVID-XX lower offset as revenue this the from in-person by third of experiences sharply throughout persisted that quarter. a

year. position included WPT best million one the significantly public took which quarter actions, of we measures, since third ability the loss the As marking other marketing the adjusted actions and year same improved as $X.X we markets capitalize in results steadily build results adjusted to and bottom ago, our in remain on business, [ph] believe versus on $X.X we Overall, expenses expenses a promising announced an million while impact $X.X having marketplace, ago. to reduced its voyaging from we These the million negative quarterly positions EBITDA period cost valuable our savings the the continues the the line, by EBITDA created year entered to At outlook. of eSports year, the last confident we quarter salary and adjusted earlier our financial pandemic. selling significant this in and GMA our and from our EBITDA minimize reductions reduce loss

to stated let's operational maximize the interactive our industry, the a three in-person most similar with WPT in-person continued services. for in and headwinds third partnerships. announced to multi-platform goal face experiences With the through experiences, strategic potential content, during Esports Beginning both to As Allied is built we to event highlights, as in-person that, on previously, these businesses experiences, businesses update pillars, significant quarter. have operational strategic of an complimentary third our and well entertainment turn around model and as quarter the previously live

reduced and Looking guests have after at to RXX Luxor distancing with of the first throughout quarter, the XX% Allied approximately service capacity implemented customer Esports, Esports through Vegas sad physical in arena limited. remains forced deployed trust HyperX restrictions due schedule sanitization play operating and of reopening have and all down Arena Esports to of and the being certain team forced XX, to extensive Las June health weekly demand pre-pandemic HyperX food Furthermore, reopened our customers our the tournaments venue for on and a play effect We for the with lowering has Casino earned provide we daily has we modified [ph], pandemic enhanced safe to beverage with hours. our believe protocols ensure and safety very a safety on since completely Hotel said, encouraging. at our the seen [ph] tournaments. also sanitization shut and by flagship is fully levels, members, the That the place To protocols. and weekly to

quarter Mario Friday Frags, Speedway, highlights considerable across weekly shown included viewing featuring Kart. growth matrix Esports featuring Fortnite, Both by HyperX a quarter Saturday all and the had at Third Arena, event third XXX% Night viewers X.XXX% increased the Saturday Most as notably, XXXX. levels with levels. and pre-pandemic Night first unique the first compared of quarter to with Frags, in quarter comparison Friday pre-pandemic the of Speedway, to in

March events Findlay execute live record-setting players in a the The and Night second than sponsor the In sponsor event first marks in the secured five WPT's $XXX,XXX Sega main quarter WPT While two Borgata Japan XXXX, poker with are month the since local the quarter. be partypoker during markets, with WPT with with Online limited Tokyo. the that September, WPT an Japan, the Volkswagen. XXX Truck, with for including Saturday in third WPT in-person Jersey Corporation. continued Speedway event for mainstream third live time event in-person record-breaking resumed the WPT events another business pleased a we to outdoor to events. hiatus, WPT by to the first US the of office hosted Network WPT Sammy event New Esports pandemic, during HyperX more the the returned prize a pillar pool featured drew August, In After also Series event

pandemic, live during quarter, third health five in-person ongoing proprietary VALORANT we online Legend extended quarter, pipeline when the events In result as our remained our loss revenues we help sponsored Switzerland-based on services attendees the events interactive restrictions the in shift a the and Series Esports. nearly Home quarter, at tournament recruit growth multi-platform interactive service strong continued the to Legend to online of format pandemic of this events of offerings. tournament as subsides. strengthen brand strengthen confident the will potential pillar. efforts completing fans VALORANT, by also are we new of Series the to of Similar that With holding and saw focused We the Not and to only in-person all here content. our last

Our followers launched six-day us the to Odyssey, watched community on million building where our events X.X accompany third by X.X of events partnership in our The hours a Twitch. a that and efforts The in viewership Esports grew in VALORANT Europe. with led success event on Ignition teams views XXX%. the million a was Twitch record we top live featuring Series, our VALORANT Riot quarter Games

and of through partnerships of a GRID the of platform. Jersey, begun be New CS:GO wagering events in in the offer a monetization We Entertainment delivered Entertainment viewers our esports opportunities Allied the Esports, was and Group the also across regulatory and state first weeks Enforcement new and of legal Development and unique New via and two Esports video its Group's the ran multi-platforms, September announced Esports Integrity to Economic data as million VIE.gg forged for deposits XXX% historic Commission its licensing approval, became Gaming X.X to the Jersey while event have Esports strong rights. Series increase Division to betting, increase the The XXX% VIE.gg a Jersey Esports driving with Esports in Legend generate in that allowing Authority partners member on for state. users New and

works was including Pinnacle, platform, to other PointsBet, VIE.gg, You FunBet several addition sports [ph]. on book event carried DraftKings, one the In Win, Yabao, and BetXXX,

Series VALORANT's and League Combustion continued the pop-up for tournament vision continues We our participations ran North The events players of of month-long also for XXXX pillar we mature. The participating Allied viewership. with in series business services and growth to and hosting be the out will interactive throughout [indiscernible] combinations Esports the our where offerings America, laid quarter to drive online Rocket both than single-day online. more

develop play will and further Esports built This we authentic block. to building experiences where always-on of offline tournaments influencers. personalities for host platform members Esports with online comprehensive integrated with service, win the platform In and community, closely be with as foundational watch, esports an the along our platform the the online players important and Importantly, experience fans. create Esports to other fans we to future, subscription-based health tournament can a an represents Esports and online expect

Cup. to From largest than WPT; their of through pool names third guaranteed July next added ever Championship team. guarantees WPT and champions through the success Sexton Mike September, $XX,XXX more The demonstrated WPT partypoker. WPT quarter. million and to the WPT we festival WPT Turning in buy-in further the was with five XXXX first became XXX events on online season $XX phenomenally Champions players during successful crowned million World main and the prize the WPT series Online in and hosted The

being addition globally. WPT successful of of one this the WPT festival history, value in In to most underscores brand online growing events to

prize became in promotion, with October, from ClubWPT's taking largest which popular pool with in place ClubWPT online the tournament with platform interactive a Diamond history, our includes necessary. to in events, run launched $XXX,XXX November. prize Early services through very proven membership purchase single-day June home the that events This World offers in subscription-based year, Tour addition no first $XXX,XXX members. poker has ClubWPT Qualifiers its $XX,XXX. In Poker accumulating pool online championship strategy a successful the ClubWPT, club the

have continue ClubWPT with ClubWPT ClubWPT membership, in tools and use Thanks the to prior portion up Diamond, subscribers year-over-year, business to can pleased and content, content part multi-platform also overall that or our We Diamond our NFUX compared statistics basis of packaged new level in to the out quench consumptions live-streamed, in some new expectations the which revenue. users year. increased increased comprise for XX/X distributors, direct be XXX% successfully solutions. for retain strong average optionality ClubWPT a Premium the launched growth Rounding the and through World of on is June. where exceeded are product. model currency successfully in activities, in or generated XXX% we post-produced subscription year-over-year and content for XX% including year-over-year, registrations other has [ph] virtual to impressive television XX% ClubWPT many this Overall, total of executed active these sells revenue sponsorship, meaningful daily via to of experience Poker we our hybrid distribution poker monetization continue various demand increase third-party Tour years.

During began the national This selling revenue WPT sign five which puts of advertising the process series quarter, in of in opportunity to securing the grew XXXX, upfront Seasons moves revenue. XXXX WPT a third studios position online clearance. period, pushing forecasted ad and with as buys audience. the XX content Moreover, sales WPT over XX more from television a of sponsorship XX% for WPT promising in online is global year a syndications for the XX% and

is think XXX% quarter the linear viewership I the was viewership prior note third period. over also household to year it household that XX% grew OTT important while in year-over-year, up

XX first time. million viewership for of of households lenient viewership households XX fact, third surpassed million OTT In the quarter television

turning more our location on over deliver located Simon financial Allied Tony selected who and for Partners Earlier to Group third relationship select discuss Atlanta update in the are Esports properties. strategic the Esports to area year, Property it Brookfield to with Property an we with provide I the at to our like would working venue. experiences Before was Mall Brookfield Simon quarter of as Metro Simon's and an Georgia in detail, in

until location for to path While for allow extending pandemic, we dates milestone we similar due concept And initiative Brookfield the Agreement COVID-XX the COVID-XX a at the under Simon to Esports key strategic suspended following project crisis an is respect are Brookfield, has With talking our open retail to with currently about the this, ended. venue the Partnership relationship Simon. strategic remain are the a crisis passed. has mall to similar on once further

the financial the results. for update With of Although our confident to in like on update delays I a our turn more in this we'll the call malls, Tony would business third initiative, our to with continue over calls. timeline expansion to prospect remain and on our you that, pandemic we detailed CFO, to progress Hung, future quarter Tony?

Tony Hung

afternoon, thank Good for Thank us you, you Frank. joining everyone today. and

within and third our As quarter the the Frank three and demonstrates to of operating pillars, pivot our dynamic business resiliency ability performance mentioned, environment. our our our challenging strategic amidst focus

strong development While continued our a impacted the our result and this their be in pillars, as by we we quarter. the the in-person made social of content pandemic, distancing protocols interactive pillar and of where growth strides multi-platform restriction saw revenue to travel

our the ourselves remains for while long As we executing two pillars, priority continue term position, and and recovery strategy to strengthen leverage while on our growth. our diligently events, live these to our working expense base in-person manage liquidity of positioning

the revenues lower from interactive by primarily $X.X were which quarter higher results. of services X.X% year-over-year, in-person million, nearly due to down turning were Total our multi-platform to third third revenues, offset for the Now, and content quarter revenues pillars. XXXX

of period. a Multi-platform postponed increase revenue hours Looking results million to primarily social an to detail, of year $X.X content This prior from from growth in totaled XX.X%. totaled revenues distancing revenues the operating due customers. compared period, million to these and two was events, pandemic. million, prior in measures the in-person year in XX.X% distribution the result the third at of $X.X an major increase $X.X was in year-over-year $X.X decrease compared million, The reduced for greater quarter

$X.X year million Esports million $X.X compared decreased from revenues to Diamond last premium the service. revenues $X.X third services to ClubWPT for of increased in million the continued the from quarter, million of million or Total year, period. strong from in third derived attributed an from Allied to increase interactive subscription Overall, in to $X.X our of total XXXX. the million new WPT primarily success in revenues quarter was of the $X.X totaled ClubWPT XX.X%. third derived and prior $X.X XXXX third in increase growth Finally, quarter quarter The

prior pandemic expenses down transition prior million, to priority to expenses or year-over-year generate non-essential multi-platform While and Esports to expenses online and partially by the allowed realize million, or the Poker to continued to our reduced the XX.X% across our revenue marketing the from year World and several the the by and pillars significantly Tour's X.X% expenses $X.X million mature services were all during content period. in XX.X% in-person expenses and effects still from events decrease interactive growth $X.X services quarter. the pillar and The $X.X strong by G&A impact globe the business, $X.X the decreases our in were compared The us reduce XX.X% through significantly manage $X.X We Total million, costs selling year-over-year actively period. or for spending. quarter million, third total year expenses and in from costs reflect quarter offset factors. the by

expenses pillar increased million interactive First, to the $X.X in of XXXX. third $X.X or quarter XX%, million, in million. multi-platform the $X.X million pillar content Expenses $X.X the services to compared to XXX.X% increased or

that online in XX.X%, million, events the for net compared as in-person $X.X acceleration online senior prior quarter of was This of period. and loss net convertible of of debt expenses events million XXXX. third from monthly $X.X as impacted the extinguishment $X.X not the on payment quarter debt acceleration continue of the secured a the period. the loss on non-cash build we during incurred to or a resulted increased loss XXXX million net quarter Our loss was year Total operating production the the negatively in million, from for to third $X.X out Total redemption continues. of live third of recovery was services

September position XXXX, December million cash included $X.X cash which due XXXX, year. of totaled during $XX.X of is primarily million including compared restricted XX, $XX.X offset funding funds to cash. million balance our decrease our the Moving cash restricted operating bridge by and to at our partially million sheet, XX, prior at to of the The of raised new notes, our repayment activities $X

XXXX. on As in debt had which matures convertible XXXX, million totaling gross breach of we XX, notes of principal, September and XX February $X.X

principal in We while installments also sheet capital, lender. which and balance now had reduced quarter this of also our the pillars, convertible successful convertible the the our And services debt offerings Subsequent for our Allied down the is of by balance to we In interactive and create our debt strengthen maintaining to growth to Q&A. future. focused we payable will the remain summary, option X.X, for model $X.X the and serve quarter a With as look open content We million evidenced those for our customers, prior growth opportunities June of and pillars. accelerated to on continues safety our in business. optimize that, convertible XXXX, employees of by the as to line in, through can continue in and guide principal the monthly continuing paid for of significant from $X.X to expansion WPT Operator? value for Esports and gross amount the principle debt be In multi-platform we strengthen at outstanding the total, quarter. million. we the

Operator

Brian is Alliance from Global first Please proceed. Partners. with Our Instructions] Kinstlinger [Operator question

Brian Kinstlinger

for Great, Thanks taking thanks. my questions.

How first your all, talk to in November improved, compared right. the that gotten the of and then, on September? capacities average got the October, I if events events, in-person about maybe worse, full at XX%, are the how about, Can that is trends you are, mentioned same? how You

Jud Hannigan

We've those limited week-in nights. question, Brian, as Thanks, in-person numbers we're to capacity on XX% stations can on concerned, filling are social and your arena capacity seen computer is to far of due event floor. on for stations distancing, get as many great we based events our the week-out our how our

seats. be we so, distancing lifts, fill to at the continue able to bullish able And social to increase we we're remain will when if solo those capacity

Brian Kinstlinger

any is Right. then, is in COVID, changes issues which you Vegas, to of do in every wave make need today's potential take a second happening any terms different? And and through what's month see of if there Las is at environment, us in all,

Jud Hannigan

well. I'm to happy as that take question,

was an numbers locations able the gathering open onset So, of the also I pandemic. in out XX Vegas what is at than permitted increase And to been of up the early one many places up XXX. they've recently we've earlier strictest think from to there. the And seen

trying things general in on is bring focused I back. conventions Vegas of to climate think the one that really

and there's tech a field lot organizers, medical event to able create And a the environment. of collaboration, only so, in with not to be with but safe

Vegas, gatherings. of -- increase having there, I things one think technology early of the some facility operator from to our that's of the waves safety an being we'll those benefit in of that tend

And right we number, seeing that holding protocol, we'll at number in moment, folks so recently, against what evaluate forward. that but like that any to now seen any the we're only continue seeing at change so, the going increased number pressure XXX we're to and downward is haven't is not really that

out, a as people things safe as to who that's play the given One of earned out week put possible, trust in environment that on our concern everything end, customers week with of we've the to for we little and world. come back is, because going the we've really us do done

Brian Kinstlinger

can you a a you percentage of gears you events? you remind switching quick little the model, to gambling taking a big description maybe bit us big Right, the just event, a you'll that monetize real had Jersey generate and on by how revenue? how operators, gaming Are --

Jud Hannigan

we're we video data What with do our and is, licensing rights.

licensing the game, off selling server, and of that and stream to that is gameplay, hosting operating the leveraging world. we're game so within events our and rights which operators -- data operating then around and sportsbook as us we're about think you if So that our a to that video operators,

platforms. information on able our create offerings lines around fee collect to and we'll so, ingest to that and And their them content for license to create be the

Brian Kinstlinger

that I these at Folks the is bets events able books events sports place events? be what replay live not -- events, will to or on and They're world understand? they'll replay can around you

Jud Hannigan

They that cases, are ultimately, provide then on to video and their as lines correct platforms they're in and, from taking a absolutely create live being you, to that able well, feed behind They're us live some a and just events. live, in paywall. process

Frank Ng

experiment or This -- do an custom-made they bookmakers their create what is is we so is frequency, try hours create block we experience that actions good the the offering book. to on consistency, few that that can for continue see can every day, so to

I far. about results think are our the partners very happy so

Brian Kinstlinger

Great. talked Last looking still envelope you to yet from flow cash just million $X the about question have, reductions, I cash the at back operations, cost statement. you in the burn

is -- maybe or what high burn? being to thoughts to the be burn some done on to more done reduce reduce cash that level, needs So

Tony Hung

our burn. a There this of to shares issued normalized in that that we of go QX items an to had of Brian, one. withholding of a payments issues is for make was Sure, was Tony, number part bunch these our timing timing one-time anomaly employees. some little and to why ahead that a don't with we tax that were regards had take were I bit the that some some and

like that. premium few had a insurance also other a We and things D&O large

that bring a and see So, job those those good would I those costs normal down been of normalized think from affected can I burn. all to you very a should going we've doing say, done we more and forward. continue perspective, operating be to able the everything we've

Brian Kinstlinger

much. Okay, thanks so

Operator

Please question Our next from is with Colliers proceed. Soderberg Securities. Derek

Derek Soderberg

World the side. any expectations on Hi, thanks that then my business also, for us And you wanted business relates the here? your to Tour opportunity? it you with are to Can give as taking for I ClubWPT questions. from details Poker the start sizing how

Adam Pliska

now, Yes, Diamond the Adam Thanks question. our speaking. Right new is we've launched Club. for this

And but not lot can margins growth And from much you changes. do in $XXX, so because up so, just, we it's that I what absolute still of have to to dollar $XX, prize $XX is think additional when that. you I the amount pool, say go change, have the a

lot it not room competitive level And us affiliate gaming really it with the that a models of what us to out room there. and as marketing, lot do so, something that club a more some it does, gives gives is more also the at online affiliate

we is to affiliate So to think a to gaming a that well. not locations. place good are real addition, done, opportunity do. gaming entry up, great now is something of have for see provides what as we And able in And, for great starts but that we social begin marketing, I open as avenue us, a all money gamers

are journey in database. online real indicates other in US. they And so, same is time, this partner, gaming because who At fact what they've they're and money interest in that sports competition, that finding companies, social their bound very in the they're These real gaming wasn't the of competition. are as have portion areas getting the that not we're -- in that but people at from the a we're of probably an well, book valuable coming they in, available who the selected money gaming inquiries space are a inward just lot not poker, realize that is a

I that that another avenue So well. think respect, of provides in growth as

Derek Soderberg

Okay. And then, businesses trends benefiting the are product those then that the within revenue, you going? those of others, interactive, have and some seeing? we're well are from how Zynga partnerships as virtual those And

Adam Pliska

is I this from entertainment. that everybody think benefited people realizing people the home, in is being general,

I our in which do to rev terms the business, WPT some we and see of agreement a captive on that play think benefit And others, that is of side play than more based so, that. from share, far more

an does licensing the to present our fall been have opportunity in the consolidate in as But of forward that great we the to so WPT that make future, going might want names people and the umbrella, to relationships name. database things names. good, want of fact of pride that Ultimately, have our decisions terms of related to relationships, we take In model. under part we to is it these all opposed them the the just put license the

see we'll far partnerships But, the so have that. enjoyed we've been well. and very good, So things about

Derek Soderberg

question of particularly Great. Have on you mentioned how new Viewership numbers viewership. events, that know seen to trending additional how been And some I'm my up. revenue commentary how has you online you monetizing some for going engagement you provide monetize the is final wondering question upwards? really you industry. event, detail increased it any had clearly per then, trends? nice from additional some is a on customers, on can the broad has just I on events? those are online was I wondering if And are

Adam Pliska

Well, we've to Sure. had XX before, always apples not basically we apples, a events. Suddenly, had pandemic. because physical it's

$XXX World opportunities first behind there Fortunately, We to event going million a mentioned, Poker no all, they back online with pandemic. margins and World accelerated That Championship online Frank put successful, test events, What May. proved is prepared of where significantly but the to we're Tour the the we were that, as event dollars did online world in we that better. our so just was first guarantees the very is to nice of about the it. partypoker, before are out never which, go

goes the the at have people, many, can chance of over a winners -- thousands social we while watching or that that been playing bring of our you're to thousands table, Secondly, reach you the instead value might at replicated be TV have we have having news. the intrinsic now the of before time final who with hosts many reach dialogue still out, stream media, people that over the that people show many, but

this things the up. to I television. total is, for about first one linear is, online want viewership the out yes, viewership is The But of saw point time, we other exceeding aspect that the

turning big a two And respects. that's in relevant that's point. So

Poker Poker First one of all, the World the years the Five quality of of largest or went to Tour has on databases content. high-end dollar six the Tour when streaming, do world continued ago, multimillion productions. television, to poker World

where in able you're - we couple getting not were make to come Pluto, relationships, a we So hey, could with worry, or seasons - say and don't whatever. say

the quality other be one, linear can if day think trying convert with it, we call no online start they platforms to and you're for that over. show, television off closer to we you have respect, outs, get you're watch sign much important that's watching what you're see online the And why less last entire -- In about tell that's competitive to up. channel we mistake, platforms because, for that is we are you and watch becoming the when go make networks. the and you to Well, the you those fewer you reason We show, do the you online, are want they'd we and ClubWPT, much watching ad, an tell to XX an years, from develop. going much can would show, people friction, watching historically, that you're and

Those poker. them greatest so we and platforms over be few that some we pieces out and afterwards, in more And essence, And a we OTT ago. become we of We of of a from on have as so, Also, inquiries you have of viral ourselves. have information, massive little over weeks those Because your watching. moments you those. are we thousands for million a clip up, that and half had think views one in few using of seeing same effect will we're valuable database viral more clips put inbound still can of growth ads our had put continue. we -- you the had that for little platforms them days immensely the in them people that put a have online

the online So that is with the work a advantage online strong company. and -- XXX% to control and our database that the we're our for we database, the growth platforms we of able fact think

Derek Soderberg

Great, thanks.

Operator

reached I have end of the session. our like management remarks. closing for call the question-and-answer over would We to turn to back

Frank Ng

and your attention afternoon on with Okay, again thank this for forward us quarter you and support to report time and fourth call. look and Thank you stay for and please We again today's we March. XXXX speaking your safe our you healthy. joining for in

Operator

today's does This conclude conference.

you Thank may you. for this And your time. lines You disconnect your thank at participation.

Allied Gaming & Entertainment (AGAE) 9 Nov 202020 Q3 Earnings call transcript