Esports Entertainment inks deal to buy UK-based Esports Gaming League

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.

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 “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.

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Story by ProactiveInvestors