Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.20.2
Segment Data
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Data

Note 10 – 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 and nine months ended September 30, 2020 and 2019 and as of September 30, 2020 and December 31, 2019:

 

    For the Three Months Ended
September 30, 2020
    For the Three Months Ended
September 30, 2019
 
    Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL  
Revenues   $ 5,291,419     $ 596,883     $
-
    $ 5,888,302     $ 4,137,091     $ 1,904,450     $
-
    $ 6,041,541  
Income (Loss) from Operations   $ 663,919     $ (1,945,413 )   $ (2,040,432 )   $ (3,321,926 )   $ (172,502 )   $ (2,984,047 )   $ (661,054 )   $ (3,817,603 )

 

    For the Nine Months Ended
September 30, 2020
    For the Nine Months Ended
September 30, 2019
 
    Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate(1)     TOTAL  
Revenues   $ 14,240,556     $ 2,275,086     $
-
    $ 16,515,642     $ 14,022,841     $ 5,592,094     $
-
    $ 19,614,935  
Income (Loss) from Operations   $ 1,115,410     $ (11,639,966 )   $ (5,665,374 )   $ (16,189,930 )   $ (1,069,712 )   $ (8,685,385 )   $ (661,054 )   $ (10,416,151 )

 

    As of September 30, 2020     As of December 31, 2019  
    Gaming &
Entertainment
    E-sports     Corporate(2)     TOTAL     Gaming &
Entertainment
    E-sports     Corporate (2)     TOTAL  
Total Assets   $ 36,673,898     $ 27,470,708     $ 1,142,267     $ 65,286,873     $ 39,290,001     $ 28,852,158     $ 3,178,915     $ 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 are included in total operating costs and 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 14% and 16%, respectively, of that segment’s revenues and during the three and nine months ended September 30, 2020, respectively, and accounted for 13% and 14% of total Company revenues during the three and nine months ended September 30, 2020, respectively. There were no customer concentrations greater than 10% for the Gaming and Entertainment segment for the three and nine months ended September 30, 2019. 

 

One customer of the Esports segment account for 18% and 14% of that segments revenues during the three and nine months ended September 30, 2020. There were no customer concentrations for the E-Sports segment during the three and nine months ended September 30, 2019.

 

During the nine months ended September 30, 2020, 10% of the Gaming and Entertainment revenues were from foreign sources.