Esports Entertainment Group completes EGL acquisition
Esports Entertainment Group has completed its acquisition of esports events organiser Esports Gaming League (EGL).
The esports and online gambling company first announced details of the deal in August 2020, while last month it announced that the deal should be completed before the end of January 2021. No financial details of the acquisition have been disclosed.
“EGL is a great addition to our growing operations and further strengthens our ability to execute on our three-pillar strategy,” said Esports Entertainment Group CEO Grant Johnson.
“EGL technology underpins the esports programs for some of the world’s best-known sports franchises, including the LA Kings, Philadelphia Eagles and Arsenal Football Club. We plan to build on this strong foundation moving forward, driving near-term revenue growth and long-term shareholder value improvement.”
Esports Entertainment Group operates several entities across three key pillars, which include esports entertainment, esports wagering and online gaming. EGL meanwhile provides live and online esports events, with its platform hosting over 350,000 registered gamers.
In August, Esports Entertainment Group noted that it expects EGL to generate triple-digit growth, after it generated $1.3m in revenue in 2019.
“As part of the Esports Entertainment Group family, we now have the opportunity to push our technology and resources to further grow our client roster,” said EGL CEO Glen Elliott. “We have been impressed with Grant’s leadership and vision and are excited to become an integral part of Esports Entertainment Group’s drive to become the industry leader.”
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