One of the city’s favourite game studios is on the mend.
Vancouver-based East Side Games Group this week reported their second quarter financial results, posting more than $20 million in revenue.
It was one year ago that a tumbling ESGG shed 20% of its workforce. Since then, however, the company has fostered an admirable corporate culture and shares in the publicly traded firm have risen over 80%.
“Our team delivered another strong quarter,” stated CEO Jason Bailey, noting “continued stability through the first half of the year.”
Investments were made toward enhancing existing titles, according to Bailey, such as “Bud Farm: Munchie Match,” a title which saw a 50% increase in average top-line revenue over the quarter, highlighting the importance of match games to ESGG’s revenue streams. The recent launch of “Cheech and Chong’s: Kush Kingdom” marks ESGG’s second entry into the match game market.
The Canadian company also allocated nearly $6M toward user acquisition strategies, an increase over prior quarters.
“We grow stronger every quarter,” believes Bailey, “as we increase our cash balance, diversify our portfolio, invest heavily in our future, and—most importantly—build a strong base of knowledge and experience, which will allow us to dominate new genres with exceptional IP game launches.”
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