EBet has laid off more than half of its workforce, among other actions, in an effort to boost profitability.
The business said it has taken “significant measures” to become EBITDA positive this month, measures that include reducing the total number of employees and contractors by 54%.
EBet, which was formerly known as Esports Technologies until a name change in May, recorded a more than 166% revenue increase for Q2 of the current fiscal year.
This was driven by the acquisition of Aspire Global’s B2C assets in 2021, namely the Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP brands.