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Segment Data

v3.20.1
Segment Data
3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Segment Reporting [Abstract]    
Segment Data

Note 8 – Segment Data

 

Each of the Company’s business segments offer different, but synergistic products and services, and are managed separately, by different chief operating decision makers.

 

The Company’s business consists of three reportable segments:

 

Poker, gaming, and entertainment, provided through WPT, including televised gaming and entertainment, land-based poker tournaments, online and mobile poker applications.
E-sports, provided through Allied Esports, including multiplayer video game competitions.
Corporate.

 

The following tables present segment information for the three months ended March 31, 2020 and 2019 and as of March 31, 2020 and December 31, 2019:

 

    For the Three Months
Ended March 31, 2020
    For the Three Months
Ended March 31, 2019
 
    Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL  
Revenues   $ 4,987,312     $ 1,057,741     $ -     $ 6,045,053     $ 4,817,818     $ 1,417,230     $ -     $ 6,235,048  
Income (Loss) from Operations   $ 439,993     $ (6,427,410 )   $ (2,106,653 )   $ (8,094,070 )   $ (373,611 )   $ (3,480,541 )   $ -     $ (3,854,152 )

 

    As of March 31, 2020     As of December 31, 2019  
    Gaming &
Entertainment
    E-sports     Corporate(2)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate(2)     TOTAL  
Total Assets   $ 37,716,634     $ 20,170,770     $ 10,824,744     $ 68,712,148     $ 39,290,001     $ 21,702,158     $ 10,328,915     $ 71,321,074  

 

1) Unallocated corporate operating losses result from general corporate overhead expenses not directly attributable to any one of the business segments. These expenses are reported separate from the Company’s identified segments and are included in General and Administrative expenses on the accompanying condensed consolidated statements of operations and comprehensive loss.

 

2) Unallocated corporate assets not directly attributable to any one of the business segments.

 

One customer of the Gaming and Entertainment segment accounted for 15% of that segment’s revenues and accounted for 12% of total Company revenues during the three months ended March 31, 2020. The same customer accounted for 16% of that segment’s revenues and 12% of total Company revenues during the three months ended March 31, 2019.

 

One customer of the E-sports segment accounted for 37% of that segment’s revenues and 6% of total Company revenues during the three months ended March 31, 2020. The same customer accounted for 25% of that segment’s revenues during the three months ended March 31, 2019.

 

During the three months ended March 31, 2020 and 2019, 14% and 14%, respectively, of the Gaming and Entertainment revenues, and 11% and 6%, respectively, of the E-sports revenues were from foreign sources.

Note 12 – Segment Data 

 

Each of the Company's business segments offer different, but synergistic products and services, and are managed separately, by different chief operating decision makers. Segment performance is evaluated based on operating results.  Adjustments to reconcile segment results to consolidated results are included under the caption "Corporate," which primarily includes unallocated corporate activity.

 

The Company's business consists of two reportable business segments: 

 

 

 

Poker, gaming and entertainment, provided through WPT, including televised gaming and entertainment, land-based poker tournaments, online and mobile poker applications.
  E-sports, provided through Allied Esports, including multiplayer video game competitions.

 

The following tables present segment information for each of the years ended December 31, 2019 and 2018: 

 

    For the Year ended December 31, 2019     For the Year ended December 31, 2018  
    Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL  
Revenues   $ 18,523,632     $ 7,548,363     $ -     $ 26,071,995     $ 16,326,923     $ 4,276,332     $ -     $ 20,603,255  
Revenues from Foreign Operations   $ 2,441,660     $ 858,277     $ -     $ 3,299,937     $ 2,499,058     $ 384,433     $ -     $ 2,883,491  
Depreciation and Amortization   $ 3,218,931     $ 3,548,810     $ -     $ 6,767,741     $ 4,003,937     $ 2,707,461     $ -     $ 6,711,398  
Loss from Operations   $ 1,011,550     $ 12,260,957     $ 2,272,580     $ 15,545,087     $ 2,116,272     $ 26,714,191     $ -     $ 28,830,463  
Interest Expense   $ 115,726     $ -     $ 1,081,401     $ 1,197,127     $ -     $ 2,117,438     $ -     $ 2,117,438  
Capital Expenditures   $ 939,576     $ 1,324,546     $ -     $ 2,264,122     $ 766,770     $ 16,416,186     $ -     $ 17,182,956  
Total Property and Equipment, net   $ 2,470,293     $ 18,084,014     $ -     $ 20,554,307     $ 711,863     $ 20,308,234     $ -     $ 21,020,097  
Total Property and Equipment, net in Foreign Countries   $ -     $ 358,481     $ -     $ 358,481     $ -     $ 442,925     $ -     $ 442,925  
Total Assets   $ 39,290,001     $ 21,702,158     $ 10,328,915     $ 71,321,074     $ 37,315,493     $ 27,931,444     $ -     $ 65,246,937  

 

1) Represents unallocated corporate assets not directly attributable to any one of the business segments and unallocated corporate operating losses resulting from general corporate overhead expenses not directly attributable to any one of the business segments. Corporate operating expense are reported separate from the Company's identified segments and are included in general and administrative expenses on the accompanying consolidated statements of operations.

 

During the year ended December 31, 2019, one customer accounted for 16% of the Gaming & Entertainment segment total revenues, and a different customer accounted for 14% of the E-Sports segment total revenues.