Spending an undisclosed eight-figure sum on video game development is currently keeping All Elite Wrestling from turning a profit.
AEW founder and CEO Tony Khan was profiled by Forbes' Hank Tucker yesterday, with the writeup revealing that the promotion's investment into game development was keeping it in the red.
Khan anticipates that AEW's wrestling division will be profitable in 2021.
With the sport finally emerging from the COVID-19 pandemic, the company's coffers will be bolstered by increased ticket sales and in-arena merchandise purchases at live events, though these will both be offset somewhat by the cost of touring.
The report also notes that AEW received $43.75 in television rights fees from TNT last year. This figure could increase in 2021, with multiple outlets reporting the group received an "eight-figure sum" ahead of Rampage's Friday night debut and Dynamite moving from TNT to TBS in 2022.
AEW's first video game, AEW Casino: Double Or Nothing, is currently available on mobile app stores. The Aubrey Edwards-helmed AEW Elite GM is currently at its beta testing stage, while the promotion's mainline console game is operating on a longer timeframe. All three were announced by the promotion in November 2020.