Month: April 2023

Everything You Need to Know About ggCircuit’s University Esports Program

From ggCircuit’s blog

The esports industry has been growing steadily for the past couple of decades due to the rise in the popularity of online multiplayer games. In addition, universities saw that many students are interested in competitive gaming. This led to the introduction of varsity esports programs and the construction of esports arenas and facilities within campuses.

Members of collegiate esports teams enjoy scholarship grants and access to state-of-the-art gaming equipment. Universities and colleges have also started offering other programs for incoming students interested in finding a career in the esports industry.

But an esports facility is more than just several gaming PCs in an unused classroom. ggCircuit has provided solutions with software, consulting, on-site assistance, and remote maintenance to over a hundred universities. Here are some of our customers that are now successfully operating their esports facility.

Ohio State University

The Ohio State Esports Arena is located at the Lincoln Tower of the Ohio State campus. It features 80 state-of-the-art gaming PCs, consoles, and two VR systems!

Ohio State Esports Arena

The Arena is where their Premier Teams train for competition, and gaming events are live-streamed through their broadcast studio. Additionally, students may apply as broadcast interns, which will give them exposure to many opportunities within esports and broadcasting.

The Arena is open to all students, and BuckID is required to access gaming equipment.

Esports Facility Page

The University of California Irvine

Opened on September 23, 2016, the UCI Esports Arena is a 3,500 sq. ft. facility located at the Student Center Terrace. This facility is equipped with 36 high-end gaming PCs and several gaming consoles.

UCI Esports Arena

UCI has an esports program centered on its five pillars: Competition, Community, Academics & Research, Entertainment, and Careers. In addition, full-time students may apply as varsity players and get scholarships.

Esports Facility Page

University of North Carolina

The Carolina Gaming Arena can be found on the campus’ Craige residence hall. The facility boasts 33 gaming PCs and three gaming consoles. In addition, visitors can watch live gaming events through the Casting area.

Carolina Gaming Arena

UNC also offers game-related courses for students that want to pursue a profession within the esports industry. Of course, students can apply to the Carolina Esports program to represent UNC in the NACE Starleague.

Esports Facility Page

Butler University

The Esports Park first opened its doors Fall of 2022, offering a place where people interested in gaming can meet. This 7,500 sq. ft. hub is located at Sunset Avenue Parking Garage within Butler University.

Esports Park

Butler’s Esports Park is open to students and the public. The facility contains a gaming area equipped with 36 high-end PCs and consoles, a cafe, a lounge, co-working spaces, an events space, and a studio and production room.

Esports Facility Page

Boise State University

The Boise State Esports Arena is located on S Capitol Blvd. in downtown Boise. This arena houses over 60 gaming stations and is separated into two sections: the first one is the Esports Arena which is primarily used by the varsity team, and the other is the Battleground which is mainly used for practice.

Boise State Gamepants Esports Arena

Boise State offers esports scholarships for eligible students interested in representing the school’s varsity team. Boise also has an esports camp for high-school gamers called EsportsU.

Esports Facility Page

Purdue University

Located in the Purdue Memorial Union, the Boiler Game Mine is Purdue’s answer to the growing demand for an esports facility among their student populace. Outside visitors may also come in and enjoy the high-end gaming experience the facility has to offer.

Boiler Game Mine

Purdue’s premier gaming facility has 26 gaming PC and consoles, such as Nintendo Switch and Xbox Series S. People not interested in video games can opt to play Bowling or Billiards in the Union Rack and Roll just beside the Boiler Game Mine.

Esports Facility Page

How can a University Ensure the Success of its Esports Program?

There is no denying that esports is already a part of mainstream entertainment. While esports is still far from being an Olympic event, debates about whether it is a legitimate sport are still raging on.

A university may add esports courses and varsity teams to cater to the gaming demographic. Competitive players, however, are just a piece of the bigger pie, and the majority of that audience is still among the casual gaming crowd.

Adding esports can be more than just about competitive gaming. It can be added to complement other academic pursuits, such as video broadcasting, game development, and computer science, among others.

Here is one of our articles where this topic is discussed in more detail. The following section discusses the other things needed to operate an esports facility or arena.

What does a University Need for its Esports Facility?

Most universities’ computer laboratories are insufficient if they are used for esports gaming purposes. For starters, PC specs have to be high-end and be able to run games that are commonly played in esports tournaments. Gaming equipment and accessories are also needed to ensure optimal performance and ergonomics for the players.

Aside from the obvious, several other things are needed for a successful collegiate esports program. Here is a list of things an esports facility must have in order to ensure a smooth operation.

Diskless Boot

Most esports centers have done away with using local drives for a great number of reasons. Among them are security and cost-efficiency. Esports games are infamous for their constant updates, and being able to update all PCs at once can save employees a lot of time and ensure PCs are ready for use anytime.

ggRock is a robust PXE boot software that many universities and esports venues around the world have been using to great efficiency.

Want to learn more about this work? This article talks more about PXE or diskless booting.

Esports Management Software

Monitoring and managing each PC in a facility can be difficult without the proper tool. Therefore, opting for software that does everything needed in an esports facility is an absolute must. Good thing that ggLeap has everything an esports facility may need, such as user management, time allocation, activity monitoring, and more!

Let’s break down some of the core features that ggLeap offers.

Game License Management

Most esports games require a license to be able to play. While most gamers have their own account, and some esports games are free-to-play. However, having in-house accounts will alleviate the need for students to create an account or purchase games that are not free.

User Management

This will enable facility employees to monitor user activity, allocate time, and update users’ information, among others.

Device Management

This feature enables employees and admins to check PCs and consoles available or in use at a glance. PCs can be restarted, shut down, and locked from here. Additionally, users can be logged in or out from here.

PC Reservation

An esports team may book a reservation of several PCs for team practice. This feature will ensure that devices will be available and prevent other students from using them.

Why are University Esports Programs Essential for Students?

The short answer is that esports is just like any other sport. Esports programs will help students who like to play video games learn about teamwork, camaraderie, and healthy competition. Games like League of Legends, Rocket League, and Overwatch require teammates to communicate, coordinate and work together to defeat an opposing team.

As we have mentioned before, esports also opens many opportunities for students who are not interested in gaming but are interested in making things work from behind the scenes. For example, students can sign up to be game commentators or be part of a production team for a school’s live stream of their games or other esports events.

Having a varsity esports program can also help financially deprived students who have skills in gaming to earn esports scholarships. Additionally, it may bolster new admissions in the university as some students prefer schools with esports programs.

Depending on the university, they may charge students for the PC rental, which will help the institution maintain the equipment and pay for the employees, who are mostly students themselves – another positive aspect as it gives employment opportunities.

Of course, the gaming facility may not be exclusively for the use of varsity teams; students who like gaming may want to play PC or console games with their friends in between classes. This promotes a healthy social environment where a gamer does not have to play alone and has a place where they can play among like-minded people.

Our article expounds on the benefits of having esports in school.

What Universities have Esports?

According to the National Association of Collegiate Esports (NACE), they have more than 170 member schools. Here is a list of the schools under NACE.

It only goes to show that esports has reached critical mass and will be a significant part of collegiate sporting events where students can participate in representing their team.

ggCircuit has over 100 university subscribers, which is a testament to how our products have helped universities and colleges run their esports facilities more efficiently. Read more about our 100th university milestone here.

In Conclusion

The future looks bright for students looking for careers in competitive gaming. University esports will help shape their future through esports scholarships and various other learning and economic opportunities.

ggCircuit is a part of Esports Entertainment Group (GMBL).

Jason McIntosh

Supporting esports venues through software tools and services.

Esports Entertainment Group Announces Agreement to Exchange $15 Million Senior Convertible Note to Unsecured Convertible Preferred Stock

Expects to report elimination of substantially all debt

St. Julians, Malta–(Newsfile Corp. – April 20, 2023) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (“Esports Entertainment” or the “Company”), a leading global iGaming company and business-to-business (B2B) esports content and solutions provider, today announced it has entered into an agreement with Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B (“Alto”), the holder of the Senior Convertible Note to exchange the remaining balance of the Senior Convertible Note into new unsecured, Series C Convertible Preferred Stock immediately after its next capital raise. Once completed, this transaction, in combination with prior transactions effected earlier this year, will reduce nearly $42 million of the Company’s liabilities, resulting in a substantially debt free balance sheet and material progress towards addressing the Company’s remaining Nasdaq listing deficiencies. The closing of the exchange transaction is subject to the Company’s completion of a capital raise that will allow it to demonstrate compliance with the minimum of $2.5 million stockholders’ equity requirement outlined in the Nasdaq Stock Exchange’s Listing Rules, and also is subject to customary closing conditions.

“We appreciate the tremendous support of our senior lender, who has agreed to exchange their Senior Convertible Note to preferred equity, which we believe illustrates their confidence in the outlook for the business, while improving our balance sheet, enhancing cash flow, and providing us greater financial flexibility to execute our new growth strategy,” stated Alex Igelman, CEO of Esports Entertainment. “I recently outlined a series of initiatives, well underway, to focus our efforts on key business lines within the iGaming, esports and e-simulator markets, while simultaneously streamlining operations. Through the actions already in place, we expect to reduce our operating expenses by over $4.0 million on an annualized basis and have identified further opportunities to reduce costs going forward. Including this latest note exchange, we have also reduced debt and other liabilities by over $42 million, year to date. As a result, I believe the company’s financial and operational outlook is back on track to capitalize on the esports opportunities ahead of us.”

Waqas Khatri, Director of Alto, said, “We are excited to support this debt reduction transaction, which not only demonstrates our confidence in the Company’s leadership, direction, and fiscal discipline but also reflects our belief in the new management team’s cohesive vision for the Company’s technology assets. We applaud the Company’s more operationally efficient business model and the team’s focus on creating long-term value and profitability. This transaction is a testament of our commitment to the Company, and we are honored to be a part of its success story.”

The material terms of the exchange agreement, the terms of the Series C Preferred Stock to be issued, and the transactions contemplated thereby are described in the Company’s Form 8-K, which has been filed with the U.S. Securities and Exchange Commission and is available on the Company’s website.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of our securities or any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Esports Entertainment Group

Esports Entertainment Group is a leading, global MGA-licensed, “esports-first” iGaming B2C operator and a US-focused B2B aggregator and supplier of esports solutions and e-simulator content. The Company owns and operates the world’s leading esport venue management system, currently deployed in 810 global locations, including more than 100 colleges and universities. The Company’s strategy is to capitalize on the multi-billion-dollar market for esports and esports wagering by leveraging its leading position in the industry. The Company is also targeting the rapidly growing market for e-simulator content, which features competitive, short-cycle head-tohead leagues that are optimized for betting. In addition to its plans to distribute esports content, the Company currently provides B2C-focused wagering through its MGA-licensed suite of brands. For additional information about the Company, please visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result,” and similar expressions. These statements relate to future events or to our strategies, targeted markets, and 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, including, the ability to effectuate debt for equity exchanges, the conversion prices, the timing and other terms of such exchanges, and the ability to consummate the required capital raise. 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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and those discussed in other documents we file with the SEC, including our ability to regain compliance with Nasdaq Listing Rules and stay listed on Nasdaq, our significant indebtedness, our obligations under our Senior Convertible Note, and our ability to continue as a going concern. 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, unless required by law. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of such Act.

Contact:

Crescendo Communications, LLC
Tel: (212) 671-1021
Email: [email protected]

Esports Entertainment Group CEO Provides Letter to Shareholders

Outlines Corporate Vision and Discusses Ongoing Restructuring to Enhance Operational Efficiency

Reports Annualized Cost Reductions Anticipated to Exceed $4.0 Million

Reduces Debt and Other Liabilities by Over $27 million, Year-to-Date

St. Julians, Malta–(Newsfile Corp. – April 17, 2023) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (“Esports Entertainment” or the “Company”), a leading, global iGaming company and business-to-business (B2B) esports content and solutions provider, today provided the following letter to shareholders from the Company’s CEO, Alex Igelman, including an update on its ongoing restructuring plan aimed at driving accelerated growth and increased operational efficiency:

To my fellow shareholders,

Since joining the Company approximately three months ago, I immediately undertook a top-to-bottom review of the entire organization based on where I believe the esports and esports gambling industries are heading, and then tied this into a cohesive vision for the Company. Esports Entertainment already owns several valuable assets that it had previously acquired and, going forward, these assets should serve as the foundation for the Company’s new direction. By concentrating our efforts and streamlining the business, I am extremely confident in our ability to establish a dominant position within this high-growth industry and drive long-term profitability.

Strategic Focus

As a business-to-consumer (B2C) iGaming operator in international markets, operating under our MGA license, we plan to have a renewed focus on esports wagering through new betting content and offerings. Concurrently, the Company is implementing strategies to expand its B2C esports wagering services through its Idefix platform, and we are in the final stages of integrating the Oddin.gg iFrame solution on our platform for esports wagering. Eventually, we plan to offer an “esports-first,” Idefix-based B2B platform for sale and distribution to third parties. Through the Idefix iGaming platform and the MGA-based suite of B2C brands, together with growth opportunities in the B2B platform sector, we anticipate a unique opportunity to bridge the iGaming and esports worlds.

In the US market, we expect to direct our attention toward aggregating and supplying B2B esports solutions and content for the esports and esports gambling industries. The Company also plans to direct significant attention toward bespoke e-simulator tournaments and related e-simulator content. EEG is already well known in the esports community for its highly valuable esports venue management solution through its ggCircuit division, which has an established presence in the US and globally. Among the markets we plan to target, we believe there is a significant near-term opportunity within the education market, where there has been considerable growth across both domestic and international college and university campuses as well as K-12 schools. We also plan to enhance the existing ggCircuit software with unique features that facilitate integration with esports wagering content where it is legally permitted, and incorporate several achievable add-ons to the software, resulting in increased revenue for both clients and the Company.”

Operational Efficiency

In addition to our near- and long-term growth strategies, we are divesting or closing non-core business lines to streamline our operations. In January of this year, we completed the sale of our eSports Spanish Gaming license for approximately $1.2 million. On the immediate heels of this transaction, we completed the sale of the Bethard business in February for approximately $1.7 million in cash at closing, and further eliminated debt and liabilities to the Bethard business of approximately $7.5 million. In March, we initiated the liquidation of Argyll Entertainment, an online gambling business in the UK with recurring losses.

We have also reduced headcount from 158 full-time employees at December 31, 2022, to 99 full-time employees, inclusive of planned reductions. As a result, annualized salaries are expected to decline by approximately 36% based on the actions being taken thus far. Although we incurred upfront costs related to the restructuring, over time, these initiatives are expected to lower our operating expenses by over $4.0 million on an annualized basis. In addition, we have pinpointed further opportunities for cost savings.

Balance Sheet Improvement

We have dramatically enhanced our balance sheet. Specifically, we reduced debt and other liabilities by approximately $27.1 million since December 31, 2022. The principal amount of our Senior Convertible Note was reduced by $16.3 million, from $32.2 million at December 31, 2022, to $15.9 million as of March 31, 2023. Other payables to the holder of the Senior Convertible Note were reduced by $2.5 million. Through the sale of the aforementioned Bethard business earlier this year, we eliminated approximately $7.5 million of debt and liabilities. Lastly, we terminated a lease, resulting in a $0.8 million reduction in lease liability. We appreciate the support of our senior lender and are working to convert additional debt to preferred equity, which we believe illustrates their confidence in the long-term outlook for the business.

Management Restructuring

In addition to my own appointment as CEO earlier this year, we recently promoted Michael Villani to interim CFO. Michael brings deep experience in corporate finance and capital markets and has been instrumental in the restructuring of the business and resulting cost reductions. Before joining Esports Entertainment, Michael worked as a Director in the Deal Advisory practice of KPMG supporting clients with technical accounting, buy-side and sell-side transactions, initial public offerings and SEC reporting. He also served as the Chief Financial Officer of a Geneva-based hedge fund and held other senior accounting roles at a number of public companies. Moreover, we eliminated non-core, senior leadership positions that were not aligned with the future direction of the Company.

Summary

The esports betting landscape today lacks uniformity and is often either a by-product of traditional sports betting, or something that conventional US bookmakers struggle to comprehend and integrate seamlessly into their platforms. Esports Entertainment has extremely valuable and differentiated assets, which we believe will be key to the future of this industry. We are executing on our vision with a specific focus on esports betting solutions and esports e-simulator content, targeting both the B2B and B2C markets.

I strongly believe that our achievements over a short three-month span are truly noteworthy. However, this is merely the starting point of our journey. Our team now comprises seasoned gambling executives, former regulators, and video game industry professionals, all of whom are committed to realizing this vision. We are also diversifying our sources of revenue to create a more resilient and sustainable business model. With the right leadership, direction and financial discipline, I am extremely confident we can establish Esports Entertainment as a leader in this rapidly emerging market, while unlocking value for shareholders.

We truly appreciate the support of our shareholders and look forward to providing further updates on our progress in the weeks and months ahead.

Alex Igelman
Chief Executive Officer

About Esports Entertainment Group

Esports Entertainment Group is a leading, global MGA-licensed, “esports-first” iGaming B2C operator and a US-focused B2B aggregator and supplier of esports solutions and e-simulator content. The Company owns and operates the world’s leading esport venue management system, currently deployed in 810 global locations, including more than 100 colleges and universities. The Company’s strategy is to capitalize on the multi-billion-dollar market for esports and esports wagering by leveraging its leading position in the industry. The Company is also targeting the rapidly growing market for e-simulator content, which features competitive, short-cycle head-tohead leagues that are optimized for betting. In addition to its plans to distribute esports content, the Company currently provides B2C-focused wagering through its MGA-licensed suite of brands. For additional information about the Company, please visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result,” and similar expressions. These statements relate to future events or to our strategies, targeted markets, and 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, including, the amount of debt for equity exchanges we will be able to effect, the conversion price, and for what period of time such exchanges will continue to occur, if at all. 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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and those discussed in other documents we file with the SEC, including our ability to regain compliance with Nasdaq Listing Rules and stay listed on Nasdaq, our significant indebtedness, our obligations under our Senior Convertible Note, and our ability to continue as a going concern. 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, unless required by law. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of such Act.

Contact:

Crescendo Communications, LLC
Tel: (212) 671-1021
Email: [email protected]

The Future of “Entertainment”

By Alex Igelman

By 2038, the landscape of entertainment has undergone a dramatic transformation. Traditional television and content consumption methods have been replaced by immersive, interactive, and personalized experiences. This shift is driven by advancements in AI, virtual reality, and the seamless merging of digital and physical worlds, ushering in a new era of storytelling and gaming. Nevertheless, these innovations come with significant challenges and potential risks.

A 2021 Deloitte poll revealed that Generation Z (those under 25) preferred gaming over TV and film as their primary source of home entertainment. This change in preference highlights not only the decline of traditional television but also the growing prominence of video games in the entertainment sector. With the integration of sophisticated AI systems with platforms like Unity, VR technology, and the emerging Web3, users can now create and customize their own immersive worlds using natural language processing (NLP) without needing specialized technical skills. This AI-driven shift holds immense potential for entertainment and productivity by making personalized interests truly immersive.

Since the advent of moving pictures, people have been captivated by the ability to escape their everyday lives and explore new worlds. Video games further enhance this experience by adding interactivity and control. The next phase in entertainment evolution involves a new form of media that allows users to control not only in-game activities but also the environment in which those activities take place.

Today, we live in a world with a vast array of media choices. It is evident that the current generation favors video games over traditional television and likely consumes non-linear multimedia (e.g., Netflix) and user-generated content (e.g., YouTube) instead of linear TV. The future points towards user-created media that is instantaneous and video game-like. As traditional television becomes obsolete, the entertainment landscape will continue to evolve, embracing interactive and personalized experiences made possible by AI and immersive technologies, along with voice-controlled chatbots as the primary means of user input and control.

To bring this vision of content consumption and entertainment to life, approximately ten existing technologies are needed:

  1. Natural Language Processing (NLP)
  2. Voice Recognition and Synthesis
  3. Procedural Generation
  4. Game Engine
  5. Artificial Intelligence (AI)
  6. Networking
  7. Virtual Reality (VR)
  8. Input Devices and Controllers
  9. UI/UX
  10. Cloud Computing and Storage

However, these advancements are not without risks. Ensuring that AI-generated content remains safe and responsible is crucial to prevent the spread of false narratives, misogyny, racism, and other harmful content. The challenge lies in striking a balance between fostering creative freedom and shielding society from the potential negative consequences of user-generated content. As the digital landscape continues to evolve, it is essential to learn from and expand existing methods of controlling controversial or harmful content on platforms like social media, YouTube, and others, and to develop robust systems for monitoring and regulating AI-generated content (including using AI) in line with societal norms and values.

The future of entertainment will be shaped by advances in personalization, creativity, and immersion, driven by a growing preference for user-created content and the innate human desire for escapism. However, it is equally important to be mindful of the potential dangers that accompany these developments. By achieving the right balance between creative freedom and responsible content regulation, AI-generated content can be used to create a more engaging, diverse, and responsible entertainment ecosystem.

Esports Entertainment Group, Inc. Announces Preferred Stock Dividend

St. Julians, Malta–(Newsfile Corp. – April 5, 2023) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLP) (NASDAQ: GMBLW) (NASDAQ: GMBLZ) (or “EEG”) announced today that its Board of Directors has declared a monthly cash dividend for its 10.0% Series A Cumulative Redeemable Convertible Preferred Stock for April 2023.

 Dividend per share$0.08 
 Record dateApr. 15, 2023 
 Payment dateApr. 30, 2023 

About Esports Entertainment Group

EEG is a full-service esports and online betting company. EEG focuses on two verticals: Games and iGaming. EEG Games provides esports entertainment experiences to gamers through a combination of proprietary infrastructure software that includes ggCircuit and our EGL (“Esports Gaming League”) tournament platform. EEG iGaming is a licensed operator of online casino and sportsbook services for gaming customers primarily in Europe. EEG iGaming operates proprietary technology that facilitates wagering, payments, payment automation, bonusing, loyalty, compliance and casino integrations. EEG has offices in New Jersey, Estonia, the United Kingdom, and Malta. For more information, visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result,” and similar expressions. 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. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and those discussed in other documents we file with the SEC, regarding our ability to continue as a going concern, our ability to regain compliance with Nasdaq Listing Rules, our significant indebtedness, and our obligations under our Senior Convertible Note. 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, unless required by law. The safe harbor for forward-looking statements contained in the Private 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:

[email protected]