VANCOUVER, BC / ACCESSWIRE / November 9, 2022 / ESE Entertainment Inc. (“IT” or the “company) (TSXV:ESE) (OTCQX:ENTEF), is a games and esports company that provides a range of technologies and services to leading video game developers.
To help new and existing investors better understand ESE’s current operations and future goals, ESE CEO Konrad Wasiela is pleased to provide the following corporate update on fiscal year 2022.
Mr. Wasiela stated, “As we begin to execute on our plans for fiscal 2023, I would like to take this opportunity to thank our shareholders and share some highlights that ESE achieved in fiscal 2022, including our key milestones and goals. We exceeded revenue targets and delivered positive Adjusted EBITDA, formalized partnerships with some of the world’s largest companies, signed agreements with Tier 1 publishers and completed a successful acquisition. Our team’s tireless work ethic and a strategic business plan have resulted in a successful 2022 After 2022, there will be an even stronger year in 2023.”
ESE has completed its 2022 financial year, which ended on October 31, 2022. ESE expects to submit its audited financial statements by February 28, 2023, the submission deadline.
“We expect record fourth quarter financial performance with our strongest numbers yet. We have focused on scaling our business with a focus on margins and profitability. By sticking to our business plan and meeting key milestones, we have positioned ourselves to continue scaling into fiscal 2023,” said Mr. Wasiela.
2022 has been an important year for ESE’s gaming technology business, with key indicators showing a solid upward trend. Key highlights for fiscal 2022 include:
- 73% YoY Growth in Gaming Technology Business Unit;
- 2.4 million new users generated in 2022, up from 805,000 in 2021, a growth of about 300%;
- 11 new clients in 2022, including a multi-million dollar partnership with a major Asian game developer;
- released Phase 1 of Singularity, a proprietary DataLake/BI infrastructure for big data ingestion and processing; and
- The company’s gaming technology division became a certified Google partner.
ESE is successfully scaling its e-commerce business with the goal of leveraging its existing brands and IPs. Key highlights for fiscal 2022 include:
- over 11,300 SKUs sold;
- more than 3,800 new customers;
- a 101% increase in average order value year-over-year to approximately $1,120;
- a 45% year-over-year increase in repeat customer rate to 23%; and
- Four new supplier agreements have been signed, allowing ESE to expand its offering on a global scale while increasing overall product margin across the existing catalogue.
ESE continues to expand its media and production division. Key highlights for fiscal 2022 include:
- in June 2022, ESE entered into a memorandum of agreement (the “MOA“) with Dome Productions (“dome“), a leading media production company jointly owned by Bell Media (NYSE:BCE) and Rogers Media (NYSE:RCI);
- in May 2022, ESE signed a partnership agreement with ARAM, a European esports events production company that produced the Intel Extreme Masters Katowice and ESL ONE and designed and built the Brawl Stars 2021 arena for PGL;
- In May 2022, ESE announced that it will produce the Tom Clancy’s Rainbow Six® Siege league in Europe hosted by Ubisoft Entertainment SA (PA:UBI) and will feature teams from Poland, Czech Republic, Slovakia and Hungary.
recruitment and growth
With over 10 new hires across ESE’s business units, the company is attracting more experienced and qualified employees. In particular, ESE hired Ms. Andrea Lieuwen as Chief Financial Officer. Ms. Lieuwen has an MBA and is a CPA, CGA with over 25 years of public company accounting and finance experience having started her career in various senior positions at Great Canadian Gaming Corporation (“GCGC“), a leading Canadian gaming and entertainment company. Most recently, Ms. Lieuwen was responsible for the leadership and operations of GCGC’s gaming properties across the province of British Columbia employing nearly 3,000 people. Andrea has held many senior finance positions throughout her career leading to growth of GCGC from a small private entity to a publicly traded company with a market capitalization of $3 billion.
As we begin to execute on our plans for fiscal 2023, we are fully focused on the following goals:
- increasing awareness of ESE through strategic marketing initiatives;
- Exceeding sales targets and increasing margins;
- maintain a positive Adjusted EBITDA;
- increasing revenue from our artificial intelligence product, Singularity;
- increasing e-commerce sales and product offerings;
- Expanding our tier 1 game publisher and brand client list;
- Introducing new products and features to expand our user base.
ESE Managing Director Konrad Wasiela, stated: “The ESE team has a clear vision and business goals for 2023. We believe we are just starting to make progress and continue to deliver value. We have a very dedicated and talented team and together we look forward to even greater growth in the coming year.”
ESE Entertainment Inc.
Chief Executive Officer and Director
About ESE Entertainment Inc.
ESE is a global technology company focused on gaming and esports. The company offers a range of services to leading video game developers, publishers and brands by providing technology, infrastructure and fan engagement services internationally. ESE also operates its own e-commerce channels, e-sports teams and gaming leagues. In addition to the Company’s organic growth opportunities, the Company is considering selective acquisitions consistent with its goal of becoming a dominant global player in esports technology and infrastructure. www.esegaming.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release contains certain statements that may constitute forward-looking information under applicable securities laws. Any statements, other than statements of historical fact, that relate to activities, events, results, results, developments, performance or achievements that ESE anticipates or anticipates may or may occur (in whole or in part) in the future forward-looking information. Such information may include, but is not limited to, statements regarding: future marketing initiatives; the development and commercialization of Singularity; the future financial condition of the company; the growth of the Company’s customer and user base, the Company’s focus for 2023; the company is scaling its e-commerce business with the goal of leveraging its existing brands and IPs. Often, but not always, forward-looking information is identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “planned”, “estimates”, “forecasts”, “intends”, “anticipates”. ” or “believes” or variations (including negative variations) of such words and phrases or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”. “, “could” or “will” (or other variations of the foregoing) be taken, occur, be achieved or occur. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this press release, but includes known and unknown risks, uncertainties, assumptions and other factors that may have an actual effect on ESE’s results, performance or achievements may differ from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to ESE, including information obtained from outside industry analysts and other external sources, and based on management’s current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of their funding) and expenses. Any forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of ESE should be considered highly speculative.
This press release contains forward-looking financial information and financial outlook information (collectively, “FOFI“) on the anticipated results of ESE’s operations and its components, all of which are subject to the same assumptions, risk factors, caveats and limitations as set forth in the preceding paragraph. The FOFI contained in this document has been approved by management as of the date of this document and has been used for the purpose ESE disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless readers will cautioned that the FOFI contained in this document should not be used for purposes other than those specified herein.
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For more information about ESE, please contact:
+1 (437) 826-4012
SOURCE: ESE Entertainment Inc.