Esports Entertainment Group Signs LOI to Acquire the Esports Gaming League
26 August 2020 - 10:00PM
Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) ( the
“Company”), a licensed online gambling company with a focus on
esports wagering and 18+ gaming, signed a Letter of Intent (“LOI”)
to acquire the Esports Gaming League (“EGL”), a fast-growing
UK-based esports company, founded in 2010, serving a rapidly
expanding community of gamers in Europe, Middle East, and the
Americas.
EGL is a B2B-centric provider of live and online
events and tournaments where gamers can compete and enjoy a wide
range of content relating to esports and video games on a
proprietary technology platform with over 350K registered gamers.
Services include full turnkey esports events, live broadcast
production, game launches, and online branded tournaments.
“At our IPO we committed to having a tournament
platform up and operational before the end of the calendar year,
and with this transaction, we have delivered on this commitment,”
commented Grant Johnson, CEO of Esports Entertainment Group. “EGL
generated approximately $1.3 million in revenue last year and is
positioned for triple-digit growth moving forward. Their
complementary platform, large user base, excellent team, and
marquee advertising partner relationships are key drivers behind
this transaction. Together, I believe we can accelerate growth both
in the US and internationally.”
The growing user base and the demographics of
EGL’s audience provide brand owners and advertisers with an
attractive environment to promote their products and services. EGL
partners with brands, publishers, and sports teams to target a
digitally enabled 18-35 core demographic and has worked with
Microsoft, Red Bull, Arsenal FC, Activision, and more
“We are extremely excited to be joining the
Esports Entertainment Group family, it will give us an opportunity
to push our technology and resources to further grow our client
roster,” commented Glen Elliott, CEO of EGL. “The vision Grant has
around building an esports ecosystem is visionary for the industry
and EGL is a perfect fit.”
About Esports Entertainment
Group Esports Entertainment Group, Inc. is a licensed
online gambling company with a specific focus on esports wagering
and 18+ gaming. Esports Entertainment offers fixed odds wagering,
fantasy and pools on various esports events in a licensed,
regulated and secure platform at vie.gg and owns and operates
online sports book, SportNation.bet. In addition, Esports
Entertainment intends to offer users from around the world the
ability to participate in multiplayer mobile and PC video game
tournaments for cash prizes. Esports Entertainment is led by a team
of industry professionals and technical experts from the online
gambling and the video game industries, and esports. The Company
holds a license to conduct online gambling and 18+ gaming on a
global basis in the UK, Ireland, Malta and Curacao. The Company
maintains offices in New Jersey, the UK and Malta. For more
information visit www.esportsentertainmentgroup.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes
forward-looking statements. These statements relate to future
events or to our future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance, or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current
views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and liquidity.
We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking
statements contained in the Securities Litigation Reform Act of
1995 protects companies from liability for their forward-looking
statements if they comply with the requirements of the Act.
Contact:
U.S. Investor Relations RedChip
Companies, Inc. Dave Gentry 407-491-4498 dave@redchip.com
Media & Investor Relations Inquiries
AGORACOM ESPO@agoracom.com
http://agoracom.com/ir/eSportsEntertainmentGroup
SOURCE: Esports Entertainment Group, Inc.
Esports Entertainment (NASDAQ:GMBLW)
Historical Stock Chart
From Apr 2024 to May 2024
Esports Entertainment (NASDAQ:GMBLW)
Historical Stock Chart
From May 2023 to May 2024