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Astralis reports $2M loss while doubling revenue

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Danish esports club Astralis reported a loss of slightly more than $2 million in the first half of 2021 but still managed to nearly double its revenue compared to the same period in 2020.

The figures come from Astralis’ financial report released Tuesday, which it was required to do as a publicly traded company.

Astralis posted net revenues of $6.24 million after generating $3.26 million in the first half of 2020.

Astralis fields competitive teams in Counterstrike: Global Offensive (commonly known as CS:GO), League of Legends and FIFA. The CS:GO team generated approximately 75 percent of Astralis’ revenues for the first half of the year, at $4.68 million.

The COVID-19 pandemic put a halt to live, in-person esports events and competitions for most of 2020 and part of 2021, an obstacle for the gaming sector. In June, Astralis opened an esports and gaming center, Astralis Nexus, in the Danish capital of Copenhagen.

“With the opening of Astralis Nexus we have taken the first step towards establishing ourselves in the broader gaming market,” Astralis CEO Anders Horsholt said in a statement.

“Reduced effects of the pandemic will gradually improve our business opportunities in key business areas, however, we do not expect significant effects in the coming six months. Still, we expect to continue the positive development and we maintain our expectations for the result for the full year.”

–Field Level Media

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