Category: Press Releases

Lucky Dino generated $21M revenue and $3.8M EBITDA in FY20 and is forecasted to grow to $29M revenue and $6.5M EBITDA in FY22

Cross-sell opportunities with 30K monthly active players

NEWARK, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an esports entertainment and online gambling operator, today announced that its Malta gaming licensed subsidiary, Esports Entertainment (Malta) Limited, has signed an asset purchase agreement to acquire the business of Lucky Dino Gaming Limited (“Lucky Dino”), an established Malta licensed online casino operator with its own proprietary casino platform. The estimated $30 million deal (Eur25m) is expected to be financed through a debt facility procured by the Company.

“Over the past five years, Lucky Dino has evolved from a single brand white-label casino operator into a multi-brand, class-leading casino operator and technology business,” commented Grant Johnson, CEO of Esports Entertainment Group. “In addition to further strengthening our tech stack, Lucky Dino’s assets will give us a substantial foothold in multiple new jurisdictions across Europe and Scandinavia where esports are extremely popular, and with Lucky Dino’s 30K monthly active casino players we will have tremendous cross-selling opportunities with our SportNation and Vie.gg betting platforms.”

In acquiring Lucky Dino’s assets, the Company will have access to a premium casino platform based on modern microservices architecture for superior simplicity, scalability, and flexibility. Lucky Dino’s proprietary technology stack includes affiliate marketing software, payment servers, and a comprehensive CRM system with a sophisticated gamification and loyalty engine and unique automated player management functionality fit for geographical expansion.

“Lucky Dino has generated an impressive track record of growth, reporting an 86% CAGR on revenue for the five years ended June 30, 2020,” continued Johnson. “With opportunities to realize synergies across shared back-office functions, payment processing and more, we are in a great position to build upon Lucky Dino’s notable EBITDA performance. Ultimately, we will look to bring this exciting online casino platform to the U.S. in the future alongside our vie.gg esports offering.”

Lucky Dino generated $21 million revenue and $3.8 million EBITDA in FY20 and is forecasted to generate $24 million revenue and $5 million EBITDA in FY21 and $29 million revenue and $6.5 million EBITDA in FY22. Financial projections do not take into account additional growth and cost saving opportunities from the combined companies.

About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Dec. 15, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”) has announced a landmark multi-year partnership with the Philadelphia Eagles where it will serve as the first esports tournament provider for an NFL club. As part of the multi-year agreement, EEG will operate bi-annual Madden NFL esports tournaments for the Eagles utilizing the Esports Gaming League (“EGL”) platform. Also under the terms of the deal, the Eagles will become an EEG shareholder.

“We are thrilled to partner with the Philadelphia Eagles as they introduce their fans to the world of competitive esports gaming,” said Grant Johnson, CEO of Esports Entertainment Group. “The Eagles join a growing list of high-profile organizations that have chosen Esports Entertainment Group as their esports tournament provider, affording us an incredible opportunity to expand our brand reach within multiple large, dedicated fan bases and setting the stage for significant growth ahead. We intend to build on this momentum.”

As a proud partner of the Philadelphia Eagles, EEG will leverage player imagery within the Eagles local market. Esports Entertainment Group will also work with Eagles players to create custom videos that will promote the tournaments and be featured in the Eagles extensive ongoing digital marketing efforts spanning social, email, mobile, and online channels.

“This innovative partnership with Esports Entertainment Group presents a wonderful opportunity for us to expand our reach in a growing market and create new experiences for Eagles fans,” said Catherine Carlson, Senior Vice President, Revenue and Strategy, Philadelphia Eagles. “Esports Entertainment Group has always been a progressive leader in the esports space and has been ahead of the curve in terms of how its interactive platform brings together gaming enthusiasts from all around the world. We look forward to debuting a number of exciting projects through this partnership, including the launch of the highly anticipated Madden tournament series on the Esports Gaming League platform.”

“Our tournament segment is a key component of our Three Pillar growth strategy,” said Magnus Leppäniemi, EVP Esports at EEG. “This partnership with the Philadelphia Eagles is a testament to the quality of our platform and ability to deliver. We look forward to a long and mutually rewarding relationship.”

EGL enables live and online events and tournaments where gamers can compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Dec. 14, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an esports entertainment and online gambling operator, today announced that it has finalized the binding agreement to acquire Esports Gaming League (“EGL”) and expects the deal to close prior to January 8, 2021.

EGL is a B2B-centric provider of live and online events and tournaments where gamers can compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform with over 350K registered gamers. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments.

“We are excited to finalize this acquisition and continue to expand EGL’s presence here in North America,” commented Grant Johnson, CEO of Esports Entertainment Group. “In addition to our announcements with the LA Kings, LA Galaxy and Philadelphia Union we are in discussions with many additional sporting organizations that are interested in exploring the ways that they can engage their fanbases through esports.”

“We are extremely excited to be joining the Esports Entertainment Group family, it will give us an opportunity to push our technology and resources to further grow our client roster,” commented Glen Elliott, CEO of EGL. “The vision Grant has around building an esports ecosystem is visionary for the industry and EGL is a perfect fit.”

About Esports Entertainment Group
Esports Entertainment Group, Inc. is an esports and online gambling company. The Company operates a number of entities across three key pillars: 1) esports entertainment and infrastructure, 2) esports wagering, 3) iGaming. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

Second consecutive year EGL to manage Arsenal’s Pro Evolution Soccer roster

Esports Entertainment Group provides access to AI-driven, adaptive FPS training and analytics to their player base

NEWARK, N.J., Dec. 01, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an esports entertainment and online gambling operator, has commented on proposed Canadian Federal Government legislation to legalize single-event sports wagering in Canada ( Bill C-13 “An Act to amend the Criminal Code” ).

“Esports Entertainment Group is excited to work within the proposed new regulatory framework to bring our SportNation and VIE Esports brands to Canadian residents,” commented Grant Johnson, CEO of Esports Entertainment Group. “Our VIE platform is the only esports vertical focused wagering platform with Tier 1 licenses and a track record of working within a transparent and comprehensive compliance environment. We look forward to adding Canada to the list of jurisdictions where our platform is available for Esports fans to engage. Having personally worked with Canadian Parliament member Dennis Mills in 1998 on one of the earliest legislative efforts regarding legalization through Private Members Bill C353, the current substantive progress is extremely exciting and we commend the federal government for their efforts to legalize single-event wagering. There is strong cross-party support and clear demand to modernize sports betting laws in Canada, and we are well positioned to capitalize on this new frontier should the amendment pass.”

The proposed changes would give provinces and territories the ability to offer single-event sport betting products and the opportunity to manage single-event sport betting in their respective jurisdictions. In provinces and territories that choose to offer single-event sport betting, Canadians would have a chance to engage in this activity in a regulated environment, either online or in physical facilities.

About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Nov. 16, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an esports and online gambling company, today announced its financial results for the fiscal first quarter ended September 30, 2020, as well as an update on several key business initiatives.

Business Highlights

• Signed agreement to acquire Helix eSports and ggCircuit in deal valued at $43 Million
• Acquired Argyll Entertainment and its SportNation brand, adding Tier 1 gambling license covering UK and Ireland; Malta gaming license secured in May 2020
• Acquired assets of FLIP Sports, providing ownership and control of tech stack
• Acquired Esports Gaming League, with a history of partnerships that include Microsoft, Red Bull Arsenal FC, and Activision; subsequent to acquisition EGL announced first-of-their kind deals with LA Kings, LA Galaxy, and Philadelphia Union to be official esports tournament provider
• Partnered with Allied Esports as title sponsor of the VIE.gg CS:GO Legend Series tournament; the two-week competition drew 1.7 million unique viewers and generated 1 million hours watched, making it the most-watched Legend Series event since tournament was created in 2017
• Expanded partnership with Dignitas, an esports asset of Harris Blitzer Sports and Entertainment, securing naming rights to famed CS:GO team; partnership includes strategic digital and physical activations in New Jersey marketplace as core focus
• Partnered with Twin Rivers Gaming to launch VIE.gg wagering platform in New Jersey in calendar Q1 2021
• Working with the New Jersey Gaming Commission to launch pilot skill-based player-to-player wagering platform, LANduel
• Opened corporate office at Prudential Center in Newark, NJ

“We have achieved many significant milestones since uplisting to the NASDAQ in April,” commented Grant Johnson, CEO of Esports Entertainment Group. “The COVID-19 pandemic has absolutely accelerated the rapid growth of esports leading to mainstream broadcasts to national TV audiences on ESPN and Fox. These trends helped us set new record audience viewing stats with our partner Allied Esports for the globally recognized Legend Series, just one of many accomplishments during the quarter. We believe the successes achieved this year provide an extremely strong foundation for long-term growth while offering investors a true pure play opportunity in the burgeoning world of global esports.”

Johnson continued, “We have structured our business to deliver a diversified esports and online gambling company via three key business pillars and believe this multi-tiered approach provides investors broad exposure to two major trends, the rise of competitive gaming and the legalization of online gambling in the US.”

“As we look ahead, we believe the acquisitions we have made as well as those we plan to make, combined with a growing list of world-class partnerships, Esports Entertainment is in a great position to accelerate the monetization of our robust three pillar strategy,” concluded Johnson.

F1Q21 Financial Results

Revenue for the three months ended September 30, 2020 totaled $222,392, an increase of $222,392 over the $0 recorded for the three months ended September 30, 2019 (this includes only 2 months of contribution from Argyll because the deal closed on August 4 ^th ). The increase was primarily attributable to the acquisition of Argyll Entertainment as we are now revenue a generating company.

Post F1Q21, October has seen a significant uptick, with levels of turnover, Gross Gaming Revenue and Net Revenue returning to pre-COVID levels. Total handle was above $16 mil for the month of October and revenues for the month were above $600K.

Total operating expenses for the three months ended September 30, 2020 totaled $3.7 million, an increase from the $0.7m recorded for the three months ended September 30, 2019. The increase was primarily attributable to the increased payroll, stock compensation, marketing, legal and professional services fees related to increased business activity.

Total net loss for the three months ended September 30, 2020 was $1.8 million, driven principally by reduced revenues related to the measures taken post the regular UK Gambling Commission audit of Argyll Entertainment, partially offset by a change in fair market value of warrant liability of $2.1m.

As of September 30, 2020, the Company had total current assets of $10.4 million and total current liabilities of $8.2 million, resulting in working capital of $2.3 million. Cash and cash equivalents totaled $8.9 million and shareholders’ equity was $16.8 million at September 30, 2020.

Guidance

The Company reaffirms its guidance of $13 million in revenue in fiscal 2021 and $25 million in revenue in fiscal 2022 from its core Argyll and VIE platforms. On a proforma basis, including the acquisitions of Helix Esports and ggCircuit, the Company expects to report $42 million in revenue in fiscal 2022 with positive EBITDA of $2 million.

Fiscal First Quarter 2021 Conference Call

The Company will host a conference call today at 4:30 p.m. Eastern Time to discuss its F1Q21 financial results. Participants may join the conference call by dialing 1-855-327-6837 (U.S. Toll-Free) or 1-631-891-4304 (International). A live webcast of the conference call will also be available at http://public.viavid.com/index.php?id=142485 .

For those unable to participate in the conference call, a telephonic replay of the call will also be available shortly after the completion of the call, until 11:59 pm ET on Monday, November 30, 2020, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10011948.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Nov. 13, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), a licensed online gambling company with a focus on esports wagering and 18+ gaming, will host a conference call and webcast on Monday, November 16, 2020 at 4:30 p.m. ET to answer questions about the Company’s operational and financial highlights for the third quarter of 2020 and recent developments.

Event:	Esports Entertainment Group Third Quarter 2020 Conference Call
Date:	Monday, November 16, 2020
Time:	4:30 p.m. Eastern Time
Live Call:	+1-855-327-6837 (U.S. Toll-Free) or +1-631-891-4304 (International)
Webcast:	http://public.viavid.com/index.php?id=142485

For interested individuals unable to join the conference call, a dial-in replay of the call will be available until November 30, 2020 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: 10011948.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Nov. 05, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an online esports tournament and gaming company, today announced ggCircuit LLC (“ggCircuit”) is expected to complete the buildout of the Century Center Esports Arena in South Bend, Indiana by mid-December 2020.

The Company entered into an agreement in October 2020 to acquire ggCircuit and Helix eSports LLC (“Helix”) in a deal valued at approximately $43 million.

The Century Center Esports Arena will serve as a destination for esports and gaming enthusiasts in the South Bend metro area. Located in the city’s convention center, visitors will be able to participate in live events and tournaments, as well as spectate. The semi-permanent installation will create a unique environment for esports events as well as provide a location for attendees of other Century Center events to participate in gaming activities.   ggCircuit won the mid six-figure contract in a competitive public bidding process that concluded in late September.

Jeff Jarnecke, Executive Director at the City of South Bend, Indiana, shared, “The city has recognized that esports is a growing community and we look forward to partnering with ggCircuit and Esports Entertainment Group to bring this facility online to engage with esports enthusiasts from around the world during their visit to South Bend.”

ggCircuit is leveraging its specialized professional services team to coordinate purchasing, installation, and final design modifications, as well as deploying ggLeap, ggRock, and integrating the ggCircuit operation system into all facets of the player and administrative experience.

“The Century Center project is just one example of the many exciting projects we have underway,” commented Michael Winger, Director of Professional Services at ggCircuit. “The rapid growth in esports, and the synergies from our acquisition by Esports Entertainment Group, should allow us to significantly accelerate our revenue growth.”

“ggCircuit has built a great business that is a strong complement to our Three Pillar Strategy,” stated Grant Johnson, CEO of Esports Entertainment Group. “We look forward to completing the acquisitions of ggCircuit, Helix, and other exciting, high-growth businesses in the coming months and quarters as we continue to execute on our vision of building the leading global brand in esports.”

ggCircuit is a B2B software company that provides cloud-based management for LAN centers, a tournament platform, and integrated wallet/point-of-sale solutions for enterprise customers. ggCircuit has over 1,000 connected locations and has worked with enterprises such as GameStop, Dell, Best Buy and Lenovo as well as universities such as Ohio State, Syracuse and North Carolina. Their ggLeap product has over 60 million hours of usage by over two million unique gamers on tens of thousands of public gaming screens inside centers worldwide.

About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online company with a specific focus on esports and gaming. Esports Entertainment offers fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
Jeff@wordp-appli-16vnpxk7u6tww-1605402296.eu-west-2.elb.amazonaws.com

NEWARK, N.J., Oct. 30, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), a licensed online gambling company with a focus on esports wagering and 18+ gaming, and the Philadelphia Union, Philadelphia’s Major League Soccer team, today announced that they have entered into an agreement to become the official esports tournament provider for the Union.

“We’re excited to further extend our reach into Major League Soccer through our partnership with the Philadelphia Union,” commented Grant Johnson, CEO of Esports Entertainment Group. “Traditional sports teams continue to incorporate esports into their programs, and we are quickly becoming the go-to provider for tournament solutions for this highly attractive market segment.”

Under the terms of the agreement, the Company will host tournaments for the Philadelphia Union on its Esports Gaming League (“EGL”) platform, providing new ways for the team to engage its fans while demonstrating the crossover appeal of esports to traditional sports fans and organizations. Tournament prizes will be provided by Philadelphia Union and include team merchandise and one-of-a-kind experiences.

“Our team and Major League Soccer have been at the forefront of incorporating esports as a way to connect and further engage our fanbase,” said Jean-Paul Dardenne, Philadelphia Union Senior Vice President of Corporate Partnerships. “With this partnership, we are excited to continue to build on our success in esports and to provide another way for fans to connect to the team they love.”

“This is another great opportunity to promote esports and sports wagering while showcasing our brand to a large and engaged audience,” commented Magnus Leppäniemi, EVP Esports at EEG. “The rapidly growing interest in esports from the traditional sports community has been exciting development, and we look forward to providing these teams with best-in-class solutions, fortifying our leadership position in the market.”

EGL enables live and online events and tournaments where gamers can compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform. Services include full turnkey esports events, live broadcast production, game launches, and online branded tournaments.

About Philadelphia Union

The Philadelphia Union is an innovative, forward-thinking professional soccer club competing in Major League Soccer (MLS) and one of Philadelphia’s five major league sports teams. Driven by unprecedented fan support, MLS awarded the Philadelphia expansion franchise rights to Jay Sugarman in 2008 and the Union kicked off its inaugural season in 2010. The club has reached the finals of the Lamar Hunt U.S. Open Cup in 2014, 2015 and 2018, and has appeared in the MLS Cup Playoffs in 2011, 2016, 2018 and 2019.

The Philadelphia Union is part of parent company Keystone Sports and Entertainment LLC, which also operates USL Championship side Philadelphia Union II, the Philadelphia Union Academy, Philadelphia Union Foundation and Philadelphia Union Youth Programs. With a commitment to developing talent from the Delaware Valley, the Union has signed nine local players from their academy to a first team contract.

The Union play at Subaru Park in Chester, PA on the banks of the Delaware River. The custom-built stadium is part of the Union’s unique waterfront campus, featuring a historic power plant rebuilt into a 400,000 sq. ft. creative office building, a state-of-the-art Training Complex, over 7 acres of professional-grade practice pitches and multiple onsite parking fields. For more information about the Philadelphia Union, visit www.philadelphiaunion.com and follow @PhilaUnion on Twitter or Instagram.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. 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.

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U.S. Investor Relations
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