UK-based esports organisation Guild Esports has announced a loss of £4.3m over a six month period, ending 31st March 2021.
The figure was revealed following the release of Guild’s unaudited financial results earlier today. The organisation has cited its investment in esports teams, the Guild Academy, content creation, and corporate infrastructure as a factor in the loss.
In total, the organisation reported administrative expenses of approximately £4.4m.
Also revealed in the financial results were revenues of £368,990 for the six month period. This includes prize money equating to £283,625 and partnership revenues of over £58,000.
The Beckham-backed esports organisation has invested heavily in 2021, with Guild establishing itself across a range of esports titles such as VALORANT, FIFA, and Rocket League. Moreover, the organisation’s online esports training subscription service, Guild Academy, officially launched in May this year.
Kal Hourd, Chief Executive Officer or Guild Esports, commented on the financial results: “In the first six months since our IPO we have executed our strategy of investing in and