Enhanced Games lose nearly $62 million despite single swimming world record
The Enhanced Games, which made headlines for letting athletes use performance-enhancing drugs, wrapped up an event in Las Vegas in May, and it didn't go as planned.
Despite all the hype, only one swimming world record was broken, and the organizers reported a nearly $62 million loss for the second quarter, mostly due to hosting the games.
Enhanced Group $17.7 million largely sponsor-backed
Enhanced Group, the company behind the games (and a telehealth platform selling things like peptides and testosterone), pulled in $17.7 million last quarter, but most of that was from sponsors, not their main business.
With doubts about whether they can afford to do this every year, they've launched Enhanced Breakers, a cheaper online series to keep athletes and sponsors interested.
Meanwhile, the peptide industry is growing thanks to a recent FDA decision to reclassify certain substances.