The cybersport industry is gaining momentum, and a lot of world's companies are looking at it as the source of growing revenues. Esports Entertainment Group (EEG) opened its economic plans for the upcoming years.
Being the first international online gambling company that appeared on the NASDAQ Stock Exchange in April 2020, EEG announced their plans for the two upcoming years. According to the firm's representatives, the planned revenues for 2021 are $13 million. The following year should be even more productive, while the organization expects to earn about 25 million dollars.
As the main direction of the company's further development is esports, EEG also announced what market share they predict to gain. According to the latest esports news, cybersport wagering only stands for a $3.5 billion market, excluding the tournaments' prizes, salaries in gaming organizations, and related marketing. EEG focuses on operating at least 5% of this esports betting market, while also continuing bookmaking based on traditional sports.
How is EEG going to expand?
According to Grant Johnson, the CEO of Esports Entertainment Group, they will be following a three-direction strategy. Except for sports and cybersports betting as two different directions, the company plans to actively organize esports tournaments worldwide. Moreover, they want to cover as many cyber-gaming disciplines on diverse gaming platforms as possible in order to increase brand awareness in the world.