Easygo Reports $171M Profit Fueled by Stake and Kick Expansion
Easygo Achieves Strong Profit Growth
Australian technology company Easygo Group has disclosed a net profit of AUD 257 million (approximately $171 million) for the fiscal year ending June 30. This result highlights the rapid growth of their crypto gambling and streaming ventures.
Financial Performance Reflects Expansion in Stake and Kick
Positioned among Australia’s most profitable private companies, Easygo generated revenues nearly reaching AUD 970 million ($645 million) while paying about AUD 152 million ($101 million) in corporate tax. The firm owes much of this success to its leading projects Stake.com, a cryptocurrency casino platform, and Kick, a live streaming service.
Managed by Ed Craven and co-founded with US partner Bijan Tehrani, Easygo provides technological infrastructure and operational support to these digital enterprises. These ventures represent the foundation of Craven’s multi-billion dollar wealth.
According to records filed with the Australian Securities & Investments Commission, Easygo’s net assets have surged to over AUD 5 billion ($3.3 billion). This significant increase followed a strategic restructuring last year, where the company consolidated various betting and media assets worldwide under its umbrella through share exchange arrangements.
Investment in Workforce and Infrastructure with Plans for Relocation
At the time of reporting, Easygo employed 636 staff members and continues to recruit aggressively, particularly in technology roles. The company announced plans to relocate its headquarters from Melbourne’s city center to a larger facility in Cremorne by 2026, anticipating further workforce expansion.
Financial disclosures reveal that Easygo invested AUD 118 million ($78.5 million) in employee salaries and benefits, AUD 70 million ($46.6 million) on technology and infrastructure, and AUD 15 million ($10 million) in marketing. The company held a cash reserve of AUD 116 million ($77.2 million) at the close of the reporting period. Ed Craven, the sole company director listed, earned AUD 250,000 ($166,340).
Growth Through Acquisitions and Market Expansion
In addition to its core services, Easygo has expanded through acquisitions, purchasing Stake’s Danish operations and another unnamed firm in the previous year. The company also operates several internal game studios that develop online casino games for Stake and other partners.
Stake continues to pursue regulatory licenses in new regions and claims over 21 million global user accounts. Despite regulatory scrutiny in various areas, it remains a prominent player. Meanwhile, Kick is gaining traction by attracting content creators and audiences, gradually capturing market share from established competitors, even as it faces its own public and regulatory challenges.
