Australian tech company Easygo Group has revealed the size of operations behind one of the world’s quickest-growing crypto gambling and streaming businesses, announcing a net profit of AUD 257 million ($171 million) for the year ending June 30.
Easygo Profit Surge Highlights Scale of Stake and Kick Operations
This puts the private firm among the most profitable unlisted companies in the country this year. The company built this result on revenue of about AUD 970 million ($645 million), while paying around AUD 152 million ($101 million) in corporate tax during this time, as reported by The Australian.
Ed Craven runs Easygo, a company he started with his US-based partner Bijan Tehrani. Easygo provides tech, infrastructure, and operational support to their other digital ventures. Their main projects are Stake.com, a crypto casino, and Kick, a live-streaming service. These operations are believed to make up most of Craven’s wealth, which reaches into the billions.
Based on financial records submitted to the Australian Securities & Investments Commission, Easygo’s balance sheet now shows net assets over AUD 5 billion ($3.3 billion). This big jump came after a major shakeup late last year. The company took on a large set of assets and debts in exchange for giving new shares to the founders. This move seems to bring together their worldwide betting and media businesses under one roof.
Easygo Boosts Spending and Prepares for Major Melbourne Relocation
The Melbourne company had 636 employees during the report period and keeps hiring lots of people for tech jobs. Easygo has said it will move its main office from the city center to a new building in Cremorne in 2026. This change should let them bring on many more employees.
The accounts show Easygo spent AUD 118 million ($78.5 million) on salaries and staff perks, AUD 70 million ($46.6 million) on tech and infrastructure, and AUD 15 million ($10 million) on marketing. At the reporting period’s end, the company had AUD 116 million ($77.2 million) in cash. Craven, the only director listed, earned AUD 250,000 ($166,340).
Besides its main service job, Easygo has been buying other companies. It bought Stake’s Danish branch and another unnamed business last year. The company also runs its own game studios. These studios make online casino games for Stake and other operators.
While Stake keeps trying to get licenses in new markets and says it has more than 21 million user accounts worldwide, it is still under the watchful eye of regulators in several places. At the same time, Kick has been pulling in creators and viewers, eating into the market share of its big competitor Twitch even though it is dealing with its own public and regulatory issues.