Esports Entertainment Group Announces Completion of Public Offering of Common Stock and Warrants

Hoboken, New Jersey–(Newsfile Corp. – March 2, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) today announced the successful completion of its public offering of common stock and warrants, raising proceeds of $13.6 million net of underwriting discounts, commissions and estimated offering expenses. The Company sold 15,000,000 shares of common stock and warrants to purchase 15,000,000 shares of common stock for a combined effective offering price of $1.00, with each common share accompanied by a warrant. The warrants are immediately exercisable at a price of $1.00 per share of common stock and expire five years from the date of issuance. The shares of common stock and the accompanying common warrants were issued separately and are immediately separable.

“The proceeds from this important offering allow us to build our working capital reserves and enable the Company to repay a portion of its outstanding debt,” said Grant Johnson, CEO of Esports Entertainment Group. “Collectively, this will provide our Company with a far firmer foundation which will allow us to take advantage of the growth potential provided by our newest esports products as well as our European-based iGaming and online sports betting businesses. In particular, we remain extremely bullish about the growing interest in our OMEGA solution and believe the debut of our LANDuel platform later this month will have a material impact on our financial performance in the coming quarters.”

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-252370) previously filed with the U.S. Securities and Exchange Commission (SEC) and which became effective on February 5, 2021. The offering was made only by means of a written prospectus and prospectus supplement that forms a part of the registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.

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

Maxim Group LLC and Joseph Gunnar & Co., LLC acted as book-running managers for the offering.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Investor Relations Inquires
jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
(212) 835-8500
gmbl@jcir.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

eeg@kcsa.com

Esports Entertainment Group Announces Pricing of $15 Million Public Offering of Common Stock and Warrants

Hoboken, New Jersey–(Newsfile Corp. – February 27, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) today announced the pricing of its previously announced underwritten public offering of 15,000,000 shares of common stock and accompanying warrants to purchase 15,000,000 shares of common stock. Each share of common stock is being sold together with one common warrant at a combined effective offering price of $1.00. The common warrants will be immediately exercisable at a price of $1.00 per share of common stock and will expire five years from the date of issuance. The shares of common stock and the accompanying common warrants can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance. Esports Entertainment Group has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 shares of common stock and/or additional warrants to purchase up to 2,250,000 shares of common stock.

Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as book-running managers for the offering.

The gross proceeds of the offering are expected to be approximately $15.0 million before deducting underwriting discounts and commissions and estimated offering expenses. This offering is expected to close on or about March 2, 2022, subject to customary closing conditions. Esports Entertainment Group intends to use the net proceeds from this offering for working capital and to repay a portion of its outstanding senior convertible note.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on February 5, 2021. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.

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

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group’s iGaming Momentum Continues

Hoboken, New Jersey–(Newsfile Corp. – February 25, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) highlighted today the strong start to calendar year 2022 for its iGaming division. The Company’s iGaming division, which holds five Tier-1 gaming licenses across Europe and the United States, has delivered seven consecutive weeks of Net Gaming Revenue in excess of $1 million to begin the quarter and 10 straight weeks in total dating back to December. In January, the iGaming division achieved their highest revenue month with more than $6 million. This month, the Company’s casino brands have reported record levels of first-time depositing users since the acquisition of Lucky Dino a year ago. Additionally, cross-selling initiatives across brands have been a strong tailwind to-date in 2022.

“Despite the challenges reflected in our second quarter fiscal 2022 results announced earlier this week, our iGaming business continues to see strong momentum to start the calendar year,” said Grant Johnson, CEO of Esports Entertainment Group. “Consistently eclipsing net gaming revenue of $1 million per week is a testament to the success of our work to migrate off of Bet Construct and onto our proprietary Idefix platform.”

In addition to the growing momentum for its iGaming business, the Company’s VIE.gg platform is completing soft play in New Jersey, which allow bettors to wager on their favorite esports teams in real-time. The Company is eager for the inaugural launch of its LANDUEL peer-to-peer wagering platform, which is set for March 19-20 at the Hard Rock Casino & Hotel in Atlantic City, New Jersey.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group Announces Proposed Public Offering of Common Stock and Warrants

Hoboken, New Jersey–(Newsfile Corp. – February 25, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) today announced that it is commencing an underwritten public offering of shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase common stock. All of the securities in the offering are to be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as book-running managers for the proposed offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on February 5, 2021. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.

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

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group to Install OMEGA at GAMMAX Locations in the Netherlands

Turnkey Solution allows Businesses and Entertainment Venues to add Esports and Gaming as a New Revenue Stream

Hoboken, New Jersey–(Newsfile Corp. – February 23, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (EEG or the “Company”) announced today that GAMMAX, a Netherlands-based gaming and esports startup, has agreed to become the exclusive distributor of the revolutionary new OMEGA solution for the Dutch market. In addition, OMEGA will be installed in GAMMAX Gaming & Esports Centers and Leisure locations across the Netherlands over the next five years, with the expectation of multiple installations through 2026.

GAMMAX is a gaming and esports startup based in The Hague and affiliated with the Sir Winston Leisure Group, a privately-owned operator of casinos and family entertainment centers in the Netherlands. Leveraging Sir Winston’s extensive experience in family entertainment centers and arcades, GAMMAX is creating social meeting places for gaming and esports fans. The first GAMMAX center opened this month in Scheveningen and offers more than 70 gaming PCs, all supported by OMEGA.

“Our expertise in operating family entertainment centers has given us a clear view of the power of esports and compelled GAMMAX to pursue an exciting new business opportunity. In building our GAMMAX Gaming & Esports Centers, we are selecting world-class vendors who can supercharge our business,” said Rogier Schmitt, Founder and Managing Partner of GAMMAX. “We believe the OMEGA solution offers an ease of installation and operation that will provide our GAMMAX centers with an unmatched technology platform. Further, it will allow GAMMAX to establish itself as a turnkey technology provider, which can bring the excitement of esports to a variety of entertainment venues throughout the Netherlands.”

“OMEGA is a unique, groundbreaking solution that allows businesses to attract gamers with a compact, convenient setup that resembles an esports arena,” said Magnus Leppäniemi, President of Esports at Esports Entertainment Group. “We are delighted that GAMMAX has selected OMEGA and believe this further validates the power of our B2B solution. EEG is dedicated to the global growth of esports, and we look forward to working with GAMMAX to bring OMEGA to their new esports venues and other potential venues over the coming years.”

OMEGA (“Online Multiplayer Esports Gaming Attraction”) is designed as a turnkey solution for businesses and entertainment venues, allowing them to add esports and gaming as a new revenue stream. OMEGA uses an arcade model to deliver a guided user experience, enabling users to seamlessly pay on-screen through a QR code or through an existing POS system. Grouped in teams across six or 12 stations, players are tasked with missions and quests as they compete in games such as Valorant and League of Legends. Players are rewarded for their performance with credits redeemable for prizes.

About Esports Entertainment Group

Esports Entertainment Group (EEG) is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. EEG and its affiliates are well-poised to help fans and players stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

About GAMMAX

GAMMAX, a new Dutch gaming and esports startup, has a mission to connect gamers in the Netherlands through entertainment and to bring esports fans and gamers together in a unique and surprising way.

The GAMMAX Gaming & Esports Centers which the company plans to open in the coming years will function as a social meeting place for competitive and casual gamers and anyone who wants to get acquainted with the wonderful world of gaming and esports. The best and most advanced gaming hardware, consoles and accessories for ultimate gaming fun.

GAMMAX has ambitious plans; build and grow local communities through their gaming and esports experience centers, collaborate with the biggest brands of the gaming industry, host special events and various esports tournaments, offer various game challenges on their GAMMAX Online Esports Platform which can be played from the comfort of home. And last but not least, gamers can express their identity with lifestyle products from the GAMMAX retail store and ecommerce shop.

For more information, please visit https://www.gammax.nl/ (Dutch language) or send an email to business@gammax.eu and a sales representative will contact you as soon as possible.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group Reports Fiscal 2022 Second Quarter Revenue of $14.5 Million

Sets Revised Fiscal 2022 Revenue Guidance Range of $70 to $75 Million

Hoboken, New Jersey–(Newsfile Corp. – February 22, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (NASDAQ: GMBLP) (or the “Company”) today announced financial results for its fiscal 2022 second quarter ended December 31, 2021.

Fiscal Second Quarter 2022 Financial Results

  • Net revenue of $14.5 million, up $12.2 million compared to 2Q21, and a 11.4% decrease compared to net revenue of $16.4 million in 1Q22
  • Gross profit of $8.0 million, up $7.2 million compared to 2Q21, and an 19.5% decrease compared to $10.0 million in 1Q22
  • Gross margin of 55.2% compared to 60.7% in 1Q22
  • GAAP net loss to common shareholders of $34.5 million, or $1.53 per share, compared to net loss of $7.3 million, or $0.57 per share in 2Q21, and net loss of $0.6 million, or $0.03 per share, in 1Q22
  • Non-GAAP adjusted EBITDA loss* of ($6.8 million), compared to an adjusted EBITDA loss of ($3.8 million) in 2Q21 and adjusted EBITDA of ($4.3 million) in 1Q22
  • As of December 31, 2021, the Company had total cash and cash equivalents of $1.0 million

* Reconciliation on non-GAAP financial measures provided in the tables of this press release.

Fiscal Second Quarter 2022 and Recent Operational Highlights

  • The Company, in late January 2022, received its transactional waiver from the New Jersey Division of Gaming Enforcement and in early February fully launched its VIE.gg platform, representing the first opportunity to wager on esports events in the United States.
  • The Company announced the debut of OMEGA, a revolutionary new, turnkey B2B solution under the ggCircuit brand that enables businesses such as movie theaters, shopping malls and family entertainment centers to offer esports and other gaming options using an arcade model to deliver a guided, end-to-end user experience.
  • The Company successfully completed the migration of its SportNation.com and Vie.bet iGaming sites to its proprietary Idefix platform.
  • Simplicty Esports & Gaming Company agreed to install the ALPHA software solution (offered under the ggCircuit brand) at four of its locations.
  • The Company announced that it had renewed its partnership with the player-popular Take-Two Interactive NBA 2K League in January 2022.
  • Stuart Tilly was named the Company’s COO in January 2022 after serving as the Company’s Chief Legal Officer since 2020. From 2016 to 2020, he was CEO of Argyll Entertainment, a business acquired by the Company in 2020.

Management Commentary

“Our fiscal second quarter results reflect a variety of challenges largely outside of our control, which together drove our first quarter over quarter revenue decline in more than a year,” said Grant Johnson, CEO of Esports Entertainment Group. “First, a significant change in the Netherlands regulatory environment led us to make the strategic decision to exit the country’s iGaming and online sports betting market at the start of the quarter. Second, our online sportsbook business in Europe experienced historically low hold which, while in-line with the broader European and U.S. market, resulted in a material decline in sportsbook revenue. Third, the ongoing issues with the global pandemic and rise of the Omicron variant during the latter part of the quarter impacted our esports business, including the delay of our LANDuel launch and the opening of our Helix esports center in California. This also drove the cancellation or postponement of many in-person, publisher-sponsored esports events. Collectively, these events significantly impacted our fiscal second quarter performance, resulting in our decision to reset our full-year revenue expectation to a range of $70 to $75 million.

“Despite these challenges and the collective impact they are having on our business, we remain extremely bullish about the year ahead and in our ability to reach annualized revenue of $100 million from our current portfolio of offerings. Our optimism reflects the recent receipt of our transactional waiver in New Jersey and the full-scale launch of VIE.gg, which makes us the first and only company to accept real money esports wagers in the U.S. We are also very bullish on the debut of LANDuel at the Hard Rock in Atlantic City on March 18-20 and believe this unique peer-to-peer wagering platform will expose Esports Entertainment Group to a significant and untapped market across many U.S. jurisdictions. In addition, we have seen considerable interest for our OMEGA esports gaming platform since it debuted in the quarter and are confident it will soon become a more important contributor to our top line results. Finally, we experienced record results and strong momentum in recent weeks, including a record month in January, as this business continues to grow and our market position expands.

“Looking ahead, I believe our future is exceedingly bright as our newest products and the underlying strength of our European-based iGaming and online sports betting business position us well to benefit from the organic growth potential inherent in our two targeted entertainment verticals, iGaming and esports. We are confident in our ability realize the tremendous growth potential of our business while achieving the operating leverage inherent in our portfolio of unique and powerful brands over the near- and long-term, as we move deeper into a post-pandemic recovery and fully integrate our tech stack and acquired assets.”

Fiscal 2022 Financial Outlook

The Company expects year over year net revenue growth to be in a range of 317% to 347%, resulting in net revenue of $70 to $75 million in fiscal 2022. The updated guidance range contemplates growth driven primarily by the platform-building and strategic diversification acquisitions completed in calendar 2021.

Conference Call

Esports Entertainment Group will host a conference call and webcast today, Tuesday, February 22, at 5:00 p.m. ET to answer questions about the Company’s operational and financial highlights for its fiscal 2022 second quarter as well as other recent developments.

Date: Tuesday, February 22, 2022
Time: 5:00 p.m. Eastern Time
Live Call: +1-800-437-2398 (U.S. Toll-Free) or +1-323-347-3294 (International)
Webcast: [https://viavid.webcasts.com/starthere.jsp?ei=1530537&tp_key=76c7c97ef4]

 

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until March 8, 2022 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 6766518.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:
Investor Relations
JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

Esports Entertainment Group, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)

December 31, 2021 June 30, 2021
ASSETS
Current assets
Cash $ 1,040,051 $ 19,917,196
Restricted cash 2,412,617 3,443,172
Accounts receivable, net 846,778 136,681
Receivables reserved for users 4,487,864 2,290,105
Other receivables 935,091 658,745
Prepaid expenses and other current assets 2,319,806 3,264,344
    Total current assets 12,042,207 29,710,243
Equipment, net 790,646 726,942
Operating lease right-of-use asset 1,781,863 1,272,920
Intangible assets, net 55,371,633 45,772,555
Goodwill 51,977,281 40,937,370
Other non-current assets 2,264,291 1,315,009
         TOTAL ASSETS $ 124,227,921 $ 119,735,039
LIABILITIES, MEZZANINE EQUITY AND
STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses $ 13,432,974 $ 8,458,689
Liabilities to customers 6,396,470 3,057,942
Deferred revenue 666,811 22,110
Senior convertible note 36,838,040
Current portion of notes payable and other long-term debt 232,550 223,217
Operating lease liability – current 649,961 414,215
Contingent consideration – current 2,850,034
    Total current liabilities 61,066,840 12,176,173
Senior convertible note, net of unamortized discount 6,302,504
Notes payable and other long-term debt 111,196 221,300
Warrant liability 3,039,478 23,500,000
Deferred income taxes 1,870,861
Operating lease liability – non-current 1,219,605 878,809
Contingent consideration – non-current 1,148,000
         Total liabilities 66,585,119 44,949,647
Commitments and contingencies (Note 13)
Mezzanine equity:
10% Series A cumulative redeemable convertible preferred stock,
$0.001 par value, 1,725,000 authorized, 835,950 shares issued and
outstanding, aggregate liquidation preference $9,195,450 at
December 31, 2021
7,634,407
Stockholders’ equity
Preferred stock $0.001 par value; 10,000,000 shares authorized
Common stock $0.001 par value; 500,000,000 shares authorized,
24,070,326 and 21,896,145 shares issued and outstanding as of
December 31, 2021 and June 30, 2021, respectively
24,070 21,896
Additional paid-in capital 134,665,366 122,341,002
Accumulated deficit (81,795,346 ) (46,908,336 )
Accumulated other comprehensive loss (2,885,695 ) (669,170 )
    Total stockholders’ equity $ 50,008,395 74,785,392
         TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 124,227,921 $ 119,735,039

 

Esports Entertainment Group, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)

Three Months Ended
December 31,
Six Months Ended
December 31,
2021 2020 2021 2020
Net revenue $ 14,531,047 $ 2,362,193 $ 30,939,338 $ 2,584,585
Operating costs and expenses:
Cost of revenue 6,515,140 1,333,678 12,966,432 1,753,753
Sales and marketing 6,871,546 1,888,372 14,258,009 2,492,488
General and administrative 13,171,186 4,909,431 24,346,322 7,965,239
Total operating expenses 26,557,872 8,131,481 51,570,763 12,211,480
Operating loss 12,026,825 5,769,288 20,631,425 9,626,895
Other income (expense):
Interest expense (2,412,716 ) (4,757,912 )
Loss on conversion of senior convertible
note
(5,999,662 ) (5,999,662 )
Loss on extinguishment of senior
convertible note
(28,478,804 ) (28,478,804 )
Change in fair value of derivative liability (1,482,621 ) (1,482,621 )
Change in fair value of warrant liability 8,651,922 (1,472,564 ) 20,460,522 628,389
Change in fair value of contingent
consideration
1,851,446 1,851,446
Other non-operating income (loss) 58,770 (48,185 ) (1,352,415 ) (100,024 )
Total other income (expense), net (27,811,665 ) (1,520,749 ) (19,759,446 ) 528,365
Loss before income taxes 39,838,490 7,290,037 40,390,871 9,098,530
Income tax benefit (expense) 5,503,861 5,503,861
Net loss $ 34,334,629 $ 7,290,037 $ 34,887,010 $ 9,098,530
Dividend on 10% Series A cumulative
redeemable convertible preferred stock
(100,314 ) (100,314 )
Accretion of 10% Series A cumulative
redeemable convertible preferred stock to
redemption value
(35,073 ) (35,073 )
Net loss attributable to common
stockholders
$ 34,470,016 $ 7,290,037 $ 35,022,397 $ 9,098,530
Net loss per common share:
Basic and diluted loss per common share $ (1.53 ) $ (0.57 ) $ (1.57 ) $ (0.73 )
Weighted average number of common
shares outstanding, basic and diluted
22,538,341 12,877,159 22,246,616 12,518,507

 

Adjusted EBITDA

The table below presents our Adjusted EBITDA reconciled to our net loss, the closest U.S. GAAP measure, for the periods indicated:

Three Months Ended
December 31,
Six Months Ended
December 31,
2021 2020 2021 2020
Net income (loss) $ (34,334,629 ) $ (7,290,037 ) $ (34,887,010 ) $ (9,098,530 )
Adjusted for:
   Interest expense 2,412,716 4,757,912
   Income tax benefit (5,503,861 ) (5,503,861 )
   Depreciation and amortization 3,340,114 537,762 6,682,466 804,210
   Shared based compensation
expense
1,729,401 1,303,919 2,611,773 2,311,591
   Transaction related expenses 192,482 95,539 255,482 95,539
   Other non-operating cost (58,770 ) 48,185 1,352,415 100,024
   Change in fair value of warrant
liability
(8,651,922 ) 1,472,564 (20,460,522 ) (628,389 )
   Loss on conversion of senior
convertible note
5,999,662 5,999,662
   Loss on extinguishment of
senior convertible note
28,478,804 28,478,804
   Change in fair value of
derivative liability
1,482,621 1,482,621
   Change in fair value of
contingent consideration
(1,851,446 ) (1,851,446 )
Total adjusted EBITDA (loss) $ (6,764,828 ) $ (3,832,068 ) $ (11,081,704 ) $ (6,415,555 )

 

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP), the Company uses adjusted EBITDA, a non-GAAP financial measure. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses this non-GAAP financial measure for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that it provides useful information about operating results, enhances the overall understanding of past financial performance and future prospects, and allows for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP financial measure used by the Company in this press release may be different from the methods used by other companies.

We define and calculate Adjusted EBITDA as net loss before the impact of interest income or expense, income tax expense or benefit, depreciation and amortization, and further adjusted for the following items: stock-based compensation, transaction-related costs, non-core litigation, settlement and related costs, remeasurement of warrant liabilities, and certain other non-recurring, non-cash or non-core items, as described in the reconciliation below.

Adjusted EBITDA excludes certain expenses that are required in accordance with U.S. GAAP because they are non-recurring items (for example, in the case of transaction-related costs), non-cash expenditures (for example, in the case of depreciation, amortization, and stock-based compensation), or are not related to our underlying business performance (for example, in the case of interest income and expense and litigation settlement and related costs).

Esports Entertainment Group’s EGL Club Clash to be Aired Worldwide on ESTV

Hoboken, New Jersey–(Newsfile Corp. – February 18, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (“EEG” or the “Company”) announced today that its EGL Club Clash program will be aired worldwide on EsportsTV (“ESTV”). EGL Club Clash gives fans the opportunity to play on behalf of their favorite professional sports organization to prove which team has the greatest gamers.

EGL Club Clash includes gamers representing the National Football League’s New England Patriots, Tampa Bay Buccaneers, Denver Broncos, Indianapolis Colts, and Los Angeles Chargers; the National Basketball Association’s Cleveland Cavaliers; and Major League Soccer’s Philadelphia Union and New England Revolution.

“Airing EGL Club Clash on ESTV presents a tremendous opportunity for us and reflects the success we are having in expanding esports engagement,” said Grant Johnson, CEO of Esports Entertainment Group. “ESTV has seen their unique viewership grow by nearly 22 percent in the last quarter and they average more than 300,000 unique viewers per day. We believe that airing significant events via their platform will greatly amplify the visibility of the EGL Club Clash program as well as further our relationship with current and new high-profile professional sports teams.”

Interested spectators in more than 45 countries will have the ability to tune into the EGL Club Clash via several streaming platforms including Roku, Amazon Fire TV, Samsung TVPlus, LG TV, Sling TV, Vizio, YouTube and Twitch. For a full list of where to watch, visit https://www.estv.co/distribution.

“ESTV is excited to continue our partnerships with the leading organizations in esports, including EGL and EEG,” said Eric Yoon, Founder & CEO of Esports Television. “Driving ESTV’s core mission to bring the latest, most engaging and compelling esports content into homes across the globe is further fueled by these tournaments, their participant activities, and their exciting new partners such as the Cleveland Cavaliers. We look forward to an exciting future with EGL and EEG as partners, driving innovative and engaging opportunities across gaming and media.”

EGL’s proprietary technology platform makes live and online events and tournaments possible by allowing gamers to compete and enjoy a wide range of content relating to esports and video games from anywhere in the world. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments. Fortnite, Madden, Apex Legends, and Rocket League are among the titles featured.

About ESTV
ESTV is the first worldwide 24-7 live linear video channel dedicated to esports. Launched in May 2019, ESTV streams live linear feeds and AVOD services, providing round-the-clock coverage of esports athletes and gaming franchises from an insider perspective. ESTV is available on the Roku® Channel (U.S. & Canada), Amazon Fire TV, LG TV, Samsung TVPlus, Dish® Sling TV, VIZIO, Rakuten TV (Europe), TCL TV (worldwide), ZEASN (worldwide), Hisense Sharp (worldwide), RAD TV (Playstation, Google TV& Android TV), EASY TV (Brazil), Select TV, TikiLIVE, XOD Global(worldwide), and SimulTV in the U.S. and international territories. ESTV is also available on Twitch, YouTube and Facebook. ESTV partners with the world’s top gaming networks and production partners for the most robust esports content lineup on linear, online and mobile. ESTV is also an exclusive broadcast partner for esports events for the Department of Defense’s Joint Base Lewis-McChord and for NFL Alumni. For more information, please visit www.estv.co.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group to Report Second Quarter Fiscal Year 2022 Financial Results on February 22

Hoboken, New Jersey–(Newsfile Corp. – February 14, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), a licensed online gambling company with a focus on esports wagering and real money gaming, will delay its conference call and webcast to discuss its fiscal 2022 second quarter financial results until Tuesday, February 22, 2022, at 5:00 p.m. Eastern Time. The delay is necessary to allow the Company to complete its quarter-end financial review and audit process.

Event: Esports Entertainment Group Second Quarter Fiscal Year 2022 Conference Call
Date: February 22, 2022
Time: 5:00 p.m. Eastern Time
Live Call: +1-888-204-4368 (U.S. Toll-Free) or +1-323-994-2093 (International)
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1530537&tp_key=76c7c97ef4

 

A dial-in replay of the call will be available until March 8, 2022 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 6766518.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

Esports Entertainment Group Appoints Stuart Tilly as Chief Operating Officer

Hoboken, New Jersey–(Newsfile Corp. – January 28, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) announced today that it has named Stuart Tilly as the Company’s Chief Operating Officer, effective immediately. Tilly has more than 15 years of experience in the online gaming industry, having previously trained and qualified as a Solicitor and had held the role of the Company’s Chief Legal Officer prior to taking on his new position.

“Given the remarkable growth in the size, breadth and geographical reach of our operations and staff over the last 18 months, we had long identified this operations role as a critical one in enabling the Company to achieve its long-term strategic goals,” said Grant Johnson, CEO of Esports Entertainment Group. “With Stuart’s extensive igaming knowledge, first-hand experience of launching and growing businesses together combined with his legal and regulatory background, we felt he was the ideal fit for this position.”

From 2016 through 2020, Tilly was the Chief Executive Officer for Argyll Entertainment AG, a UK licensed online sports betting and gaming company, which was acquired by Esports Entertainment Group in 2020. He was also Founder and Chief Executive Officer of Flip Sports Limited, a mobile games development company, a founding member of the International Social Games Association, an industry trade body for the social gaming industry and Founder and Executive Director of iGaming Counsel, a legal and commercial advisory firm to the online gaming industry.

“Having played a role in the burgeoning expansion of the Company’s operations through our M&A activity since joining the Company in the summer of last year, I’m incredibly excited to now be entrusted with overseeing the next stage of the Company’s operational growth as we look to maximize the potential of our business assets and execute on our long term goals,” said Tilly.

Stuart is a qualified lawyer having trained and qualified as a solicitor at Magic Circle law firm, Allen & Overy LLP . He has a law degree from the University of Exeter and an LPC Masters Degree from Nottingham Trent Law School.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

KCSA
eeg@kcsa.com

Esports Entertainment Group Granted Approval to Begin Betting Operations in New Jersey

First esports Operator To Be Granted New Jersey Transactional Waiver

Hoboken, New Jersey–(Newsfile Corp. – January 24, 2022) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) announced today that it has received an Order approving a Transactional Waiver from the Director of the New Jersey Division of Gaming Enforcement which permits the company to begin accepting bets in the state. The Company becomes the first esports betting operator to receive a Transactional Waiver in New Jersey and plans to launch their VIE.gg betting platform following a five-day ‘soft play’ period which will begin this afternoon. During ‘soft play’, certain limitations must be applied to the online experience to ensure proper regulatory operations.

“We couldn’t be more pleased to be the first esports-dedicated operator to be granted the right to commence business in New Jersey. On behalf of our entire team, I would like to thank the Division of Gaming Enforcement for their approval of our platform and the trust they have placed in our Company,” said Grant Johnson, CEO of Esports Entertainment Group. “Global esports betting is estimated to exceed $205 billion by 2027, and we are thrilled to be playing such an important role in this fast-growing market with the launch of our first esports wagering offering in the United States.”

Upon launch, the Company’s VIE.gg platform will allow bettors across New Jersey, the 11th most populous U.S. state, to wager on their favorite esports teams in real-time as part of a seamless and immersive experience. Players will be able to leverage their esports prowess across games such as Call of Duty™, CS:GO™, League of Legends™ and DOTA 2™.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. 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. 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. The safe harbor for forward-looking statements contained in the 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:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com
eeg@kcsa.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com