China’s Ourgame International Holdings Ltd has reported increased revenues and a narrowed loss in 3Q19 from its subsidiary, Allied eSports Entertainment Inc – the newly formed business combination that brings Allied Esports International, Inc and global poker brand WPT Enterprises, Inc together under a single name.
Comparing financial results to those of the individual business segments 12 months ago, Ourgame revealed on Wednesday that total revenues in the third quarter of 2019 grew 10.2% year-on-year to US$6 million, with growth in both “in-person” revenues at its live eSports venues and multiplatform content revenues from its WPT business.
In-person revenues increased by 17% to US$2.6 with much of that revenue generated from Allied Esports’ flagship venue, the HyperX Esports Arena Las Vegas, located at Luxor, which opened its doors in March of 2018. Ourgame said that the arena hosted 85 events in 3Q19.
Multiplatform Content revenues grew by 9% during the period to around US$1 million thanks to an increase in sponsorship for it World Poker Tour (WPT) business. Interactive revenues also grew, up 4% to US$2.4 million, with the WPT business seeing increases in product licensing and social gaming revenue.
The WPT televises more than 60 global events annually, including 10 international events, and recently debuted a localized WPT television show for the Mexico market which coincided with the launch of a social gaming platform in Mexico, WPTGO.
Net loss attributed to AESE for the third quarter of 2019 narrowed to US$4.3 million, compared to a net loss of US$6.7 million in the prior year period.
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