Esports Entertainment Group Inc (NASDAQ:GMBL) said it has signed a letter of intent to acquire the Esports Gaming League (EGL), a UK-based provider of esports events and tournaments.
EGL is a business-to-business operator of live and online events where its more than 350,000 registered gamers can compete and enjoy esports content on a proprietary technology platform. Its 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,” Grant Johnson, CEO of Esports Entertainment said in a statement.
READ: Esports Entertainment partners up with Twin River Worldwide to launch online esports betting in New Jersey
“EGL generated approximately $1.3 million in revenue last year and is positioned for triple-digit growth moving forward,” Johnson added. “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, the company said. EGL partners with brands, publishers and sports teams to target the digital-savvy 18-35 demographic, including Microsoft, Red Bull, Arsenal FC, Activision and others.
“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,” EGL CEO Glen Elliott said. “The vision Grant has around building an esports ecosystem is visionary for the industry and EGL is a perfect fit.”
Esports Entertainment is a licensed online gambling company with a focus on esports wagering and 18+ gaming. The company offers fixed-odds wagering, fantasy and pools on various esports events.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com
Get our Free Ebook, "Suppressed Health Secrets" with Natural Cures THEY don't want you to know!
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.