ESE ENTMT INC - ENTEF STOCK NEWS

ESE Entertainment Inc. (OTCQB: ENTEF) reported record quarterly revenue of $8.03 million for Q1 2022, marking a 4069% year-over-year increase from $0.19 million in Q1 2021. The gross profit reached $1.41 million, a 633% increase from the previous year. However, the adjusted EBITDA loss stood at $795,338, an increase from a loss of $687,330 in Q1 2021. Total assets rose to $19.62 million from $15.94 million as of October 31, 2021. The results do not include the acquisition of GameAddik, which will impact the next quarter's performance.

ESE Entertainment Inc. (TSXV: ESE; OTCQB: ENTEF) has announced a new roster for its esports team, K1CK Esports, focusing on Counter-Strike Global Offensive (CS:GO). This move marks a return to the game for K1CK, which previously excelled in titles like Apex Legends and League of Legends. The new roster includes experienced players and promising talent. ESE aims to leverage its history and improve upon past successes in the esports community. The company is also exploring acquisition opportunities to enhance its market position in esports technology.

ESE Entertainment Inc. (OTCQB: ENTEF) has signed a framework agreement with GP Metaverse to organize sim racing tournaments. GP Metaverse offers a collection of 10,000 unique race car NFTs on the Polygon blockchain, which is noted for its energy efficiency. The first NFT drop is scheduled for March 19, 2022. The partnership aims to enhance community engagement in motorsports, offering benefits such as exclusive content and events for NFT holders. Prominent figures like IndyCar driver Romain Grosjean support this initiative, highlighting its potential in merging motorsports with gaming and blockchain technology.

ESE Entertainment has been awarded the 2022 Gold Winner in the MUSE Creative Awards for its SkillzVault by Bitcoin Vault project. This accolade highlights ESE's commitment to excellence in the gaming and esports sector. The project, executed across Asia and South America during the pandemic, involved a collaboration with several partners, showcasing ESE's capabilities in media planning, technology implementation, and marketing. The MUSE Creative Awards received over 6,000 entries globally, affirming the significance of this recognition for ESE's standing in the entertainment industry.

ESE Entertainment Inc. (OTCQB: ENTEF) has announced that its subsidiary, Frenzy, will host three offline tournaments for the PKO Bank Polski Ekstraklasa Games, an EA SPORTS FIFA tournament linked to the Ekstraklasa soccer league. The events will take place on March 12-13, March 26-27, and the grand finals on April 9-10, 2022. Each tournament will feature 8 players, broadcast on Polsat Games. Frenzy aims to elevate the esports experience with in-person events following months of online competition.

ESE Entertainment Inc. (OTCQB: ENTEF) has partnered with Metachain Technologies to enhance its esports revenue opportunities. This collaboration aims to leverage Metachain's expertise in Metaverse technologies, including blockchain and NFTs. ESE's CEO, Konrad Wasiela, emphasized the importance of specialized skills in monetizing the Metaverse, which Metachain aims to provide. This partnership is expected to facilitate revenue generation through tokenization and other digital assets, aligning with ESE's strategy to expand within the esports sector.

ESE Entertainment Inc. (OTCQB: ENTEF) reported record revenues of $11.38 million for Fiscal 2021, marking an impressive 2818% increase year-over-year. Q4 2021 stood out with revenues of $6.24 million, up 3018% from Q4 2020. Despite these gains, the company faced an adjusted EBITDA loss of $3.50 million, worsening from a loss of $2.04 million the previous year. Total assets rose to $15.94 million, a 1793% increase, and cash reserves increased to $4.83 million. Future growth is anticipated with recent acquisitions of Frenzy and GameAddik.

ESE Entertainment Inc. (TSXV:ESE) has acquired GameAddik, a Canadian gaming technology company specializing in user acquisition campaigns. GameAddik provides performance marketing and tech solutions to enhance brand visibility for video game developers. In Q1 2022, the company acquired 534,000 new users and gained six new clients. GameAddik aims to acquire over 800,000 new users in Q2 2022 and plans to expand its team and service capabilities. The appointment of Konrad Wasiela to GameAddik's Board is expected to bolster corporate strategy and publisher networking.

ESE Entertainment Inc. (OTCQB: ENTEF) announces the launch of a new broadcast studio in Warsaw, Poland, by its media division, Frenzy. This facility, sized over 900 square feet, will enhance ESE's capabilities to broadcast esports and gaming events across 20 countries, starting with the VALORANT competition, VRL East: Surge. The studio can accommodate up to 15 operators, enabling simultaneous event broadcasts. This expansion aligns with ESE's strategic growth plan to secure contracts with major gaming publishers and enhance its esports broadcasting business.