Oct 01, 2021 (Baystreet.ca via COMTEX) --
The eSports boom shows no clear signs of slowing. In fact, it may be on course to book more than $1 billion revenue this year, according to Newzoo’s Global eSports and Live Streaming Market Report, as noted by Reuters. That’s 14% growth year over year from $947.1 million. Better, Newzoo believes the global market could reach 728.8 million by the end of the year – a 10% increase from 662.6 million year over year. Even more impressive, the global eSports betting market could balloon to $20.7 billion by 2027 from $12.67 billion in 2020, according to research from Valuates Reports. All are substantial catalysts for Esports Technologies Inc.
, Penn National Gaming
, Las Vegas Sands
, and MGM Resorts International
Look at Esports Technologies Inc. /zigman2/quotes/226082549/composite EBET -3.56% , For Example
Esports Technologies Inc., a leading global provider of advanced esports wagering products and technology, announced today the execution of a definitive agreement for the acquisition of Aspire Global’s (sto:ASPIRE) B2C business in a $75.9 million transaction, including $58.3 million in cash, $11.7 million in a promissory note and approximately $5.9 million worth of common stock. The closing of the acquisition is subject to Esports Technologies’ receipt of financing, as well as other closing requirements. The transaction is expected to close by November 30, 2021.
Under the terms of the deal, Esports Technologies will acquire Aspire’s portfolio of B2C proprietary online casino and sportsbook brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Strategically, Esports Technologies intends to utilize the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customers.
In the most recent 12-month period ending June 2021, Aspire Global’s B2C revenue was $73.9 million and its EBITDA was $8.2 million. During the same period, the B2C business recorded wagering of $1.8 billion and over 1.3 billion bets.
Upon completion of the acquisition, Aspire and Esports Technologies will enter into an agreement where Aspire will provide four years of managed services for the acquired brands, ensuring operational continuity while allowing Esports Technologies to scale its operations in key markets.
Aaron Speach, CEO, Esports Technologies, said, “The acquisition of Aspire’s B2C business will give us an opportunity to accelerate growth by offering esports wagering to 1.25 million new deposited customers. Our company is in a strong position to benefit from the heightened popularity and growing interest in esports.”
Tsachi Maimon, CEO of Aspire Global, said: “Esports Technologies is a strong company with high growth ambitions and is a perfect match for our B2C brands. With Aspire Global’s B2C brands, Esports Technologies gains leading, well-established brands, an excellent base for further growth and a very talented team that contributed to the B2C’s growth. We are confident that Esports Technologies will take our B2C brands to the next level, and we welcome Karamba and the other B2C brands as our new partners.”
Other related developments from around the markets include:
Penn National Gaming and Score Media and Gaming, Inc. announced that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock. Under the terms of the agreement, theScore shareholders will receive US$17.00 in cash and 0.2398 shares of Penn National common stock for each theScore share, which implies a total purchase consideration of US$34.00 per theScore share based on Penn National’s 5-day volume weighted average trading price as of July 30, 2021. The transaction has been unanimously approved by the boards of directors of both companies and is currently expected to close in the first quarter of 2022. Upon completion of the transaction, current Penn National and theScore shareholders will hold approximately 93% and 7% respectively, of the Company’s outstanding shares. Penn National expects to fund the approximately US$1 billion cash portion of the consideration using existing cash on its balance sheet.
The New York Jets announced a multi-year partnership with Fubo Sportsbook , the comprehensive sports entertainment and wagering experience expected to launch in the fourth quarter 2021 (subject to all applicable regulatory approvals), to become an Official Sports Betting partner of the club. This agreement marks Fubo Sportsbook’s first sponsorship of a professional sports team. The partnership centers around the creation of the Fubo Sportsbook Lounge at MetLife Stadium for Jets home games, set to debut during the 2021-22 NFL season, and will be the first authorized, mobile sports betting lounge in the stadium. In addition, Fubo Sportsbook will become the presenting partner of the Jets Mobile App and is the team’s first legal sports betting (LSB) partner to leverage the Jets’ new advertising data partnership with Sportradar.
Las Vegas Sands announced an effort which will see the company become a strategic investor in digital gaming technologies focused primarily in the business-to-business space. As part of this effort, the company is building a digital gaming investment team, which will be led by Mr. Davis Catlin. Mr. Catlin is joining Sands after fourteen years with a leading investment firm. For the last decade, Mr. Catlin led that firm's investments in both public and private companies in digital gaming. "Sands is determined to grow its leadership position within the industry and is committed to doing that through strategic steps we think best position the company for future growth," said Robert Goldstein, the company's chairman and chief executive officer. "Digital gaming and other related offerings are still very much in the early stages of development, and we believe there is an outstanding opportunity for us to invest in the technologies being developed."
MGM Resorts International and BetMGM , the joint venture between MGM Resorts and Entain, are proud to join the American Gaming Association (AGA) as official partners of its Have A Game Plan® mission. Have A Game Plan aims to promote responsible sports wagering to new consumers and seasoned bettors. This announcement coincides with the AGA's Responsible Gaming Education Week (RGEW). As the industry experiences monumental growth, RGEW 2021 is highlighting MGM Resorts and BetMGM's unified commitment to responsible gaming. Throughout RGEW, MGM Resorts and BetMGM are sharing important responsible gaming tips and information through its social media channels. MGM Resorts and BetMGM will continue to promote its responsible gaming education throughout the year by providing useful information, tools and resources on its apps and websites.
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