The revenue for the three months ending on March 31, 2020 was not recorded to allow for a year-on-year comparison. However, in Q3 2021, the revenue increased by 129% from $2.4 million in the three months ending on December 31, 2020. This growth was primarily driven by the acquisition of Lucky Dino Gaming on March 1, 2021, as well as the launch of SportNation.com and Vie.bet brands in new jurisdictions under the Malta Gaming Authority license.
During this period, the total operating expenses amounted to $11.0 million, comprising $6.3 million in general and administrative costs, $2.4 million in sales and marketing expenses, and an additional cost of revenue of $2.3 million. The net loss for the quarter was $12.4 million, compared to a net loss of $6.3 million for the same period in 2020. The cumulative net loss for the nine-month period ending on March 31, 2021, was $21.5 million.
Esports Entertainment Group reaffirmed its commitment to achieve a revenue of $18 million in the full fiscal year 2021 and a revenue of $70 million in fiscal year 2022.
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