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European Gaming Congress 2024

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Esports Entertainment Group Announces Leadership Changes and Business Update

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Esports Entertainment Group, Inc. announced the departure of Grant Johnson from his position as Chairman and Chief Executive Officer, effective December 3, 2022. The Board of Directors has identified several candidates to be the Company’s next CEO, and these candidates are currently going through the evaluation process. The Company has identified a preferred candidate for interim/acting CEO, and we will make a formal announcement naming this individual in the coming days pending a formal approval by the Nominating and Corporate Governance Committee. The Company has also announced Jan Jones Blackhurst as Chair of the Board of Directors.

“Grant recognized the value of esports and online gambling and founded EEG on that basis. On behalf of the Board, we wish him well,” said Ms. Jones Blackhurst. “The Company is looking forward to bringing in new leadership to work with Board to realize the full potential of our acquired esports businesses.”

Sale and Restructuring in the iGaming Business

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The Company has made significant progress in recent months reducing costs and considering strategic options for iGaming assets that do not contribute to profits and cash flow. The progress includes:

  • Sale of the Company’s online casino business in Spain. The sale of the online casino business in Spain is expected to close on December 12, 2022. The proceeds from the sale, net of commissions, will be used primarily to pay down the principal on the Senior Convertible Note.
  • Closing of the Argyll iGaming operations in the United Kingdom and Ireland on December 7, 2022, due to high costs to operate in these markets and an inability to generate profits.
  • Initiation of a process to evaluate the strategic options for the iGaming business, including exploring a sale of iGaming assets due to increasing regulatory burdens and competition. Our new CEO will be tasked with assessing the value of the iGaming assets and determining next steps.

Other Key Announcements

The Company continues to execute on its plan to be publicly listed on Nasdaq, while restructuring its debt and capitalizing on its esports assets:

  • The Company announced that it obtained approval for continued listing on the Nasdaq. The Company’s continued listing on Nasdaq is subject to evidencing compliance with Nasdaq requirements by March 31, 2023.
  • The Company is in discussions with its debt holder to restructure its payment obligations, including but not limited to eliminating the derivative liability on its consolidated balance and addressing the Company’s default status under the debt. The Company is optimistic that an agreement can be reached to the benefit of both parties in the near term.
  • The Company recently received a non-binding letter of intent from a third party that offered to merge its assets, including intellectual property, with that of the Company. The combined company would focus on growing esports revenues. The proposal is currently under consideration by the Company.
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eSports

DATA.BET Launches Esports Bet Builder

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The company advances the betting experience for esports fans

DATA.BET, a leading esports betting provider, releases Bet Builder, designed to create highly customized compound bets within a single match, offering a thrilling experience for professional bettors and avid esports enthusiasts.

Unlike traditional express bets, which span across multiple events, Bet Builder operates within a single event. It allows players to tailor their bets with flexibility, making it ideal for skillful users who deeply understand the game and seek a more personalized and strategic betting experience. With Bet Builder, users can bet on a wide range of markets within a single event, freely combining their selections without any restrictions.

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In addition to its powerful functionality, this product is versatile in its integration. It can be seamlessly connected to any platform via API, allowing operators to offer this premium feature without technical limitations.

The novelty is already available for Counter-Strike 2 and will soon expand to cover other popular esports titles such as Valorant,  League of Legends, and other disciplines.

“Our Bet Builder is a game-changer in the esports betting landscape,” said Rostyslav Likhtin, Head of Product at DATA.BET. “We’ve developed a sophisticated mathematical model that allows us to offer this feature on compound events without compromising on profitability. Beyond providing a unique experience that boosts engagement rates, loyalty, and expands the user base, it also significantly increases the operator’s turnover from the existing audience. Additionally, Bet Builder helps attract new players who are eager to explore combined bets on popular sports, allowing them to become more familiar with these disciplines.”

The post DATA.BET Launches Esports Bet Builder appeared first on European Gaming Industry News.

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BETBY EXPANDS ESPORTS PORTFOLIO WITH LAUNCH OF eSTREETBALL

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BETBY, a leading provider of premium sportsbook solutions, has announced the addition of eStreetball to its BETBY Games esports content portfolio, further enhancing its impressive lineup of e-simulator sports. BETBY Games now features nine different sports, hosting over 50 tournaments across various disciplines.

The newly introduced eStreetball title brings players the excitement of three unique tournaments: NBA All-Star, NBA All-Classic, and CBA All-Star. Combining state-of-the-art graphics with extensive betting options, the game delivers an exhilarating and immersive experience for esports enthusiasts.

Each eStreetball match offers rapid gameplay, with games concluding in just seven minutes. For an enhanced betting experience, the game provides more than 10 betting markets, including options like winner, total points, home total, away total, handicap, odd/even, and race to points. This latest addition follows a series of recent updates to BETBY Games’ esports portfolio, showcasing the company’s commitment to delivering innovative and engaging content for its partners.

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Kirill Nekrasov, Head of BETBY Games, commented: “We were thrilled with the success of our recent Classic eBasketball release, which motivated us to accelerate the launch of new content for this game. We’ve now introduced another basketball-based sport, and I’m confident it will resonate with both casual players who enjoy quick bets and instant outcomes, as well as esports enthusiasts who are always eager for new disciplines.

He added that: “We are continually striving to innovate and enhance our offerings, aiming to provide the best possible esports experience for our partners and their players. The introduction of Streetball to BETBY Games’ e-simulator portfolio reflects our dedication to the esports sector. By delivering top-tier content, we empower our partners to differentiate themselves in the market while keeping players engaged, particularly during periods when live sports events may be limited.”

The post BETBY EXPANDS ESPORTS PORTFOLIO WITH LAUNCH OF eSTREETBALL appeared first on European Gaming Industry News.

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SIS goes live with Superbet to strengthen esports product profile in Romania

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Operator adds 24/7 sport simulation content to offering

SIS (Sports Information Services), the leading content supplier of 24/7 live betting services, has launched its Competitive Gaming product with Superbet in Europe and South America through the Genius Sports platform.

The complete suite of H2H Global Gaming League™ eSoccer and eBasketball matches, numbering over 150,000 events per year, is now live with the Romanian operator. Superbet will benefit from the increase in wagering opportunities provided by the event-based product, which is proven to maximise engagement and margin for operators.

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Since its launch in 2008, Superbet has established a strong presence across the Central and Eastern Europe (CEE) region, becoming a leading operator in Romania, Belgium, Poland and Serbia. The operator offers a diverse sportsbook, presenting constantly evolving sports betting opportunities to its customers.

Competitive Gaming’s H2H Global Gaming League™ sees highly skilled professional gamers take part in short-form eBasketball and eSoccer matches. The contests are produced entirely in-house in the UK and include tools and features to enhance the customer experience.

It is the only esports product available on the market to have been awarded the Esports Integrity Commission’s (ESIC) Gold Standards, the highest possible accreditation created to set unmatched levels of integrity and safety in the industry, with trained referees overseeing every contest.

Launching Competitive Gaming with Superbet reaffirms SIS’ reputation as a global supplier of value-adding, round-the-clock content.

Andrew Kelly, Head of Commercial Partnerships at SIS, said: “The partnership with Superbet is the latest operator agreement as we strive to widen the reach of our Competitive Gaming portfolio, leveraging our recent platform partnership with Genius Sports.

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“Superbet has an impressive footprint and we look forward to bringing our revolutionary product to bettors throughout this entire region.”

Ivan Gojic, Head of Trading Product at Superbet Group, added: “Superbet has established a reputation of being a champion of the sports betting industry across the CEE region, due to the unique and immersive experience that we offer to our customers. We are always looking at ways to improve the quality of this experience and enhance the array of wagering opportunities that we provide.

“SIS’ Competitive Gaming is a proven product with increased quality and variety in terms of content, and we are excited to add it to our offering.”

The post SIS goes live with Superbet to strengthen esports product profile in Romania appeared first on European Gaming Industry News.

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