Business
February 20, 2023
EEG to Sell Bethard as It Continues Paying Off Debts
Esports Entertainment Group (EEG) has announced that it will be selling its Bethard online gambling brand. The buyer will pay a total of $10.14 million (converted to USD from Euro) for the Malta and Sweden-licensed brand. As announced, the sale sum will be comprised of $1.76 million of cash on closing and $6.94 million of […]
Business
January 12, 2023
Entain Snatches BetCity from Sports Entertainment Media for $482M
The deal between the two parties was originally announced for an initial consideration of €300 million ($324 million) and a maximum deferred contingent consideration of €550 million ($594 million) in June 2022. Now, Entertain has presented the completion of all procedures for a final acquisition cost of €450 million ($484.2 million). The total cost, which […]
Sports
November 16, 2022
SportNation and RedZone Cease UK Business
Sports betting operators SportNation and RedZone have both announced their decision to leave the British market. The companies, both of which are owned by Esports Entertainment Group, cited a variety of factors as the reason for their leave. SportNation and RedZone Will No Longer Take Bets Existing SportNation and RedZone customers should rest easy as […]
Esports
July 4, 2022
EEG VP/Director of Esports Betting Bux Syed Left the Company
Esports Entertainment Group (EEG)’s vice president of Esports Betting Bux Khalid Syed has left his position and the company, the esports expert announced on his LinkedIn profile. Back to Providing Consulting Services Syed left EEG last month, having spent almost two years with the esports betting provider since his appointment in October 2020 as Head […]
Industry
May 24, 2022
EEG Registered 3Q22 Revenue Growth, Liquidity Problems
Esports Entertainment Group (EEG) announced Monday its fiscal 2022 third quarter earnings report, significantly revising down its previously issued full-year revenue guidance. Growth in Revenue, Gross Profit Hoboken-based full stack esports and gambling operator EEG revealed for the three months ended March 31, 2022, net revenue of $15.7 million, representing an increase of 8% to […]
Esports
March 15, 2022
Esports Entertainment Reinforced Financial Team with Damian Mathews as CFO
Esports Entertainment Group, a full-stack esports and online gambling company, has reinforced its leadership team with the addition of Damian Mathews. He will serve as the company’s new chief financial officer, will assume the role of chairman of the audit committee, and will retain his position on its board of directors. Esports Entertainment Acquires Mathews […]
Industry
February 28, 2022
EEG’s Fiscal Q2 Defined by Revenue Growth and Negative EBITDA
Esports and online gambling company Esports Entertainment Group (EEG) released its financial results for the second fiscal quarter ended December 31, 2021, posting double-digit growth in revenue. Platform Building and Strategic Acquisitions The fiscal second-quarter report revealed revenue at the New Jersey-based EEG jumped 18.85% year-over-year to $14.5 million, up from $12.2 million in the […]
Business
January 31, 2022
EEG Appoints Stuart Tilly as COO amid M&A Push
Esports Entertainment Group (EEG) has selected Stuart Tilly as the group’s new chief operating officer. As a result, the company will entrust the executive with several responsibilities that will pertain to its overall performance and the latest launch of esports betting products in New Jersey. Preparing for Busy Months Ahead Last week, the Division of […]
Esports
January 24, 2022
New Jersey Regulator Grants EEG Transactional Waiver for Esports Betting
Esports Entertainment Group, the leading online esports entertainment company, announced on Monday that it received approval to start betting operations in New Jersey. Esports Entertainment Group Receives Approval to Start Betting Operations To start its betting operations, EEG received an order that approves a transaction waiver. The order was issued by the Director of the […]
Business
January 13, 2022
Betby Brings Products onto EEG’s Vie.bet and SportNation
Betby will help Esports Entertainment Group to power its betting brands Vie.bet and SportNation. Betby, which is an expert in supplying state-of-the-art solutions for the interactive wagering vertical, is well-versed in the esports and sports betting space. Betby and EEG Are Familiar Partners The deal is an extension of the collaboration between the two companies […]