EBET, Inc. Announces Quarter-over-Quarter Revenue Increase of 166%
LAS VEGAS, May 10, 2022 /PRNewswire/ -- EBET, Inc. (Nasdaq: EBET), a leading global provider of advanced wagering products and technology, announced revenue for the quarter ended March 31, 2022 of approximately $19 million, up more than 166% quarter over quarter, and a gross profit of approximately $7 million. EBET ended the quarter with a cash position of $7.1 million. This revenue increase is due to the acquisition of the brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP on November 30, 2021. The acquisition included 1.25 million deposited customers.
- This revenue increase is due to the acquisition of the brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP on November 30, 2021.
- 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 modeling and wagering product across high-value European markets, as well as expanding geographical reach and investment in intellectual property.
- The company is focused on bringing better odds and technology solutions to cater to the Millennial and Gen-Z demographics.