Wednesday, February 17, 2021

Esports Entertainment Group, Inc. (GMBL)
Putting The Pieces Together

Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Fiscal Q2 in line. Total revenues of $2.36 million was in line with out estimate of $2.2 million. Adjusted EBITDA of a loss of $3.4 million was slightly better than our $3.8 million loss estimate. The quarter had a lot of noise with a significant amount of professional fees related to recent acquisitions and funding.


Raise fiscal 2021 revenue estimate.  The company plans to close on the Lucky Dino acquisition in late February. As such, it increased full year fiscal 2021 revenue guidance from $13 million to $18 million. Notably, we believe that there is upside surprise potential to that guidance. We are maintaining our fiscal 2022 revenue estimate of $70 million, which is in line with management’s guidance …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.