| 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. |
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.
|