Esports entertainment group provides fiscal third quarter business update
Divests non-core businesses in a company reset to maximize opportunities in the esports and e-simulator markets initial restructuring costs reflected in fiscal third-quarter results; anticipates ultimate reduction of more than $4 million in annual operating expenses reduces nearly $43 million of liabilities year-to-date; expected to result in a substantially debt-free balance sheet not yet reflected in financials julians, malta--(newsfile corp. - may 22, 2023) - esports entertainment group, inc. (nasdaq: gmbl) (nasdaq: gmblp) (nasdaq: gmblw) (nasdaq: gmblz) ("esports entertainment" or the "company"), a leading, global igaming company and business-to-business (b2b) esports content and solutions provider, today provided strategic, financial, and operational updates for the fiscal third quarter ended march 31, 2023. "over the past several months, we've carried out an all-encompassing review of our organization, taking into account the projected direction of where we believe the esports and esports gambling industries are heading," stated alex igelman, ceo of esports entertainment.
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