Brief: Ebet announces corporate restructuring and profitability plan - projects positive EBITDA run rate for August 2022

EBET

15/08/2022 14:03

Aug 15 (Reuters) - Ebet Inc  EBET.O :
    * EBET, INC. ANNOUNCES CORPORATE RESTRUCTURING AND
PROFITABILITY
PLAN - PROJECTS POSITIVE EBITDA RUN RATE FOR AUGUST 2022
(CURRENT MONTH)
    * EBET INC - REDUCING TOTAL NUMBER OF EMPLOYEES AND
CONTRACTORS BY
APPROXIMATELY 54%
    * EBET INC - REVENUE FOR 3RD QUARTER ENDED JUNE 30, 2022 WAS
APPROXIMATELY $18.2 MILLION
    * EBET INC - REDUCING INVESTMENT IN NON-REVENUE-GENERATING
ESPORTS
PRODUCTS
    * EBET INC - ELIMINATION OF NON-MATERIAL CONTRACTS
    * EBET INC - GENERALLY REDUCING OPERATING COSTS OF BUSINESS
    * EBET INC - RE-ALIGNING RESOURCES TO ESCALATE AND EXPAND
ITS
FOCUS TO IGAMING
    * EBET INC - WILL ALSO BE RELEASING ITS NEW AFFILIATE
PLATFORM,
EAFFILIATES.COM
    * EBET INC - DOES NOT EXPECT TO REACH PREVIOUS FISCAL 2022
REVENUE
GUIDANCE OF $70 MILLION
    * EBET INC - NOT PROVIDING ANY UPDATED REVENUE GUIDANCE AT
THIS
TIME FOR 2022
    * EBET INC - ANTICIPATE APPROVAL AND RECEIPT OF NETHERLANDS
AND
ONTARIO (CANADA) GAMING LICENSES IN FISCAL Q1 2023

Source text for Eikon:  ID:nPn3sShlra 
Further company coverage:  EBET.O