Esports Entertainment Group Takes Control of its Tech Stack with Acquisition of FLIP Sports Assets
09 September 2020 - 10:00PM
Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the
“Company”), a licensed online gambling company with a focus on
esports wagering and 18+ gaming, today announced it completed the
acquisition of certain assets of FLIP Sports Limited (“FLIP”),
including staff and all intellectual property.
“This is a major step forward for Esports
Entertainment Group, placing us in a position where we own and
control our tech stack,” commented Grant Johnson, CEO of Esports
Entertainment Group. “With this transaction, we’re also gaining a
world-class development team with a specific expertise in gambling,
along with award-winning customized software, and as a bonus, they
have existing revenue which adds to our financials.”
FLIP Sports is a dynamic and entrepreneurial
mobile games studio innovating how fans enjoy and engage with live
sports. Through its proprietary in-play, peer-to-peer technology,
FLIP provides a unique multi-platform second-screen experience
within an entertaining, social, and competitive gaming environment
for fun-seeking sports and wagering enthusiasts who enjoy watching
live sports and events.
“As leaders in building iGaming platforms, the
FLIP team is a welcome addition to Esports Entertainment Group and
will enable us to take the player experience to new heights,
ultimately creating a best-in-class immersive experience for
esports fans,” stated John Brackens, CIO/CTO of Esports
Entertainment Group.
Global esports revenues are expected to grow
15.7% year-on-year to $1.1 billion in 2020, according to Newzoo,
while the global esports betting market is forecast to reach $17.2
billion by year end according to data from Esports Insider.
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
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