BREAKING: Easygo Group, the Australian tech powerhouse behind the booming crypto gambling platform Stake.com and the live-streaming service Kick, has just announced a staggering net profit of AUD 257 million ($171 million) for the year ending June 30. This explosive growth positions Easygo as one of Australia’s most profitable unlisted companies in 2023.
The company, founded by Ed Craven and his US-based partner Bijan Tehrani, reported revenues of approximately AUD 970 million ($645 million), after paying around AUD 152 million ($101 million) in corporate taxes, according to The Australian. This significant profit surge underscores the scale and success of their operations, particularly in the fast-evolving digital entertainment landscape.
Easygo’s impressive financial results come as the firm prepares for a major relocation of its Melbourne headquarters to Cremorne in 2026. This move is expected to accommodate a growing workforce, as Easygo currently employs 636 staff and is actively hiring for tech positions. The company’s balance sheet reveals net assets exceeding AUD 5 billion ($3.3 billion), reflecting a robust financial foundation.
During the reporting period, Easygo invested heavily in its workforce, spending AUD 118 million ($78.5 million) on salaries and employee benefits, AUD 70 million ($46.6 million) on tech and infrastructure, and AUD 15 million ($10 million) on marketing initiatives. With AUD 116 million ($77.2 million) in cash reserves at the end of the fiscal year, the company is well-positioned for future growth.
Craven, who is the sole director listed for Easygo, reported earnings of AUD 250,000 ($166,340). Beyond its core operations, Easygo has also been expanding through acquisitions, securing Stake’s Danish branch and another unnamed business last year. Furthermore, the company operates its own game studios, developing online casino games for Stake and other partners.
Currently, Stake.com boasts over 21 million user accounts worldwide, but remains vigilant as it navigates regulatory scrutiny in various markets. Concurrently, Kick is rapidly gaining traction, attracting content creators and viewers as it competes with established platforms like Twitch amid its own regulatory challenges.
As Easygo continues to capitalize on its successes, all eyes will be on how these developments impact the future of crypto gambling and streaming, a sector that is evolving at breakneck speed. Stake and Kick’s rapid growth signals a transformative moment in digital entertainment, making Easygo a key player to watch in the coming months.
Stay tuned for more updates as Easygo’s expansion unfolds and reshapes the landscape of online gaming and streaming.
