Write up on 4 July by kalkinemedia dot com. SummaryE-sports had...

Write up on 4 July by kalkinemedia dot com.

Summary

• E-sports had witnessed continuous growth, but viewership and overall interest are explicitly having a moment during the pandemic.
• Dedicated e-sports arenas, huge tournaments, and the migration of traditional sports into the virtual world have proven, it is here to stay.
• Esports Mogul, with its strong partnership pipeline, has in recent times witnessed robust demand for its online tournament hosting due to global restrictions on travel and public gatherings.

ESH runs an e-sports media and software business. The Company owns and operates advanced pure-play online tournament platform known as mogul.gg.

Under this platform, tournament organisers, community groups and influencers can run their own online events, monetise their audience, reduce the operating costs and time in event management and administration.

On 27 May 2020, notified the market with regards to its Board wherein, it mentioned that ESH’s Chairman, Mr Adam Jacoby would be standing down from his current role, and would come into effect when an appointment of NED (non-executive director) is done.

On 30 April 2020, ESH unveiled its robust balance sheet, and held a cash balance of ~AU$3.1 million. It highlighted the launch of high-profile projects with two well-known industry leaders- Microsoft, and Team secret.

Other business highlights for the quarter ended 31 March 2020 (Q1 FY20) are as follows:

• During the quarter, there was a boost in demand for the Company’s online tournament hosting amid pandemic induced global restrictions on travel and public gatherings.
• The Company partnered with Microsoft and launched 12 months tournament series for ‘Age of Empires II’ and ‘Age of Empires II Asia Cup’, which would run till the end of February 2020.
• In partnership with Team secret, the Company launched ‘Secret Stars’, which includes exclusive paid and free to play tournaments, and subscriptions.
• The quarterly net operating cash flow was noted as AU$761 thousand.