Esports Entertainment Group (NASDAQ:GMBL) is up 20.0% after inking a deal to acquire LHE Enterprises for an undisclosed amount.
LHE is the holding company of online betting and gaming operator Argyll Entertainment.
"With Argyll already generating around $12 million in revenue annually, this acquisition will have a major positive impact for our company," says Esports CEO Grant Johnson.
"In the current global environment of COVID-19 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."
Esports Entertainment Group, Inc. operates as an online gambling platform. It offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience. The company was founded on July 22, 2008 and is headquartered in Malta, Antigua and Barbuda.
LHE is the holding company of online betting and gaming operator Argyll Entertainment.
"With Argyll already generating around $12 million in revenue annually, this acquisition will have a major positive impact for our company," says Esports CEO Grant Johnson.
"In the current global environment of COVID-19 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."
Esports Entertainment Group, Inc. operates as an online gambling platform. It offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience. The company was founded on July 22, 2008 and is headquartered in Malta, Antigua and Barbuda.