Esports Entertainment Group Inc has highlighted a strong start to calendar year 2022 for its iGaming division.
The Hoboken, New Jersey-based full stack esports and online gambling company said its iGaming division, which holds five Tier-1 gaming licenses across Europe and the US, has delivered seven consecutive weeks of net gaming revenue more than $1 million to begin the quarter and 10 straight weeks in total dating back to December.
In January, the iGaming division achieved its highest revenue month by reporting more than $6 million in revenue. In February, the company's casino brands reported record levels of first-time depositing users since the acquisition of Lucky Dino a year ago.
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In addition, the company noted that cross-selling initiatives across brands have provided a strong tailwind in 2022.
"Despite the challenges reflected in our second quarter fiscal 2022 results announced earlier this week, our iGaming business continues to see strong momentum to start the calendar year," Esports Entertainment CEO Grant Johnson said in a statement.
"Consistently eclipsing net gaming revenue of $1 million per week is a testament to the success of our work to migrate off of Bet Construct and onto our proprietary Idefix platform," he added.
In addition to the growing momentum for its iGaming business, the company's VIE.gg platform is completing soft play in New Jersey, which allow bettors to wager on their favorite esports teams in real-time.
The company is looking forward to the inaugural launch of its LANDUEL peer-to-peer wagering platform, which is set for March 19-20 at the Hard Rock Casino and Hotel in Atlantic City, New Jersey.
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