Esports Entertainment Groups pens Letter of Intent to Acquire Argyll Entertainment
Esports Entertainment Groups highlighted that it has signed a binding letter of intent (LOI). This is a move to acquire the holding company of online sportsbook and casino operator Argyll Entertainment.
This development came after Esports Entertainment noted that ever since the launch flagship brand in 2017, the organisation has managed to secure and established a fast-growing company in Europe.
The development and the fast-growing of Esports Entertainment Groups have made them be up the list to the NASDAQ and close around $8.4 million amidst the flow of esports industry. In a statement, Grant Johnson, Chief Executive of Esports Entertainment mentioned that his organisation has generated around $12 million in revenue annually and this will have a massive impact on the growth of the company.
“With Argyll already generating around $12 million in revenue annually, this acquisition will have a major positive impact on our company.”
“In the current global environment of coronavirus, there has been a surge of interest in online gaming to fill the void left by traditional sports and other activities. Argyll’s established footprint and revenue base, combined with our strong cash position from our successful April capital raise combined with our esports betting platform, places Esports Entertainment in a great position to capitalize on this evolving opportunity,” he added.
Quick Facts on Esports Entertainment Groups
Esports is an online gambling company that mainly pays more attention to sports betting. They offer fantasy tools, fixed betting odds along with exchange style and betting on esports events in the world.
Nevertheless, the company’s main aim is to offer multi-player mobile and PC video game tournament for real money prizes.
Esports Entertainment Groups Inc (NASDQCM)
The future of real money casino gambling is not blurry. Rather it is very bright for gamblers who enjoy sports betting and various casino games. This letter of intent will surely unlock many great things in the gaming and entertainment industry.
We are going to witness a wide range of casino games coming into effect along with some amazing bonuses and promotional wins for casino players.
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