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Allied Esports details “transformational” financial results for 2019

Allied Esports Entertainment announced its financial results for 2019, describing the year as “transformational.”

Revenue for the fourth quarter in 2019 was up 19 percent, totalling $6.5 million (£5.4 million), when compared to the fourth quarter of the previous year.

Photo credit: Allied Esports

The company’s complete revenue for 2019 reached $26.1 million (£22 million), an increase of 27 percent over the past year, with an improvement of 38 percent in adjusted EBITDA.

Frank Ng, CEO of Allied Esports Entertainment, spoke on the results in a release: “Allied Esports Entertainment wrapped-up a transformational year ending with a strong fourth quarter highlighted by robust topline growth and continued execution of our strategic initiatives.