Maltese eSport and online gambling company Esports Entertainment Group Incorporated continues the recent trend in the M&A industry with the announcement that it has signed an agreement to purchase iGaming operator Bethard Group Limited for $ 19.5 million in cash.
A buyer based in the Valletta suburb of Birkirkara used the official Tuesday press release to specify that the deal is due to close on the first day of July. Gameday Group owner receives 12% of net gaming revenue for the latest acquisition through the end of 2023.
Esports Entertainment Group Incorporated signed an alliance with land-based casino operator Bally's Corporation last summer to see how will enter the embryonic US iGaming market via a service operated under a license held by partner 1, 251 - room owned by Bally's Atlantic City. Already certified by regulators in Malta, Ireland , Curacao and United Kingdom the company then revealed that this deal would make it possible GMBL New Jersey Incorporated to bring Real money multiplayer tournaments for mobile and PC for players in eastern New Jersey.
Grant Johnson is the CEO of Esports Entertainment Group Incorporated and used the press release to explain that the upcoming purchase is for to complement these earlier findings by granting its company iGaming licenses for Sweden and Spain. Moreover, he stated that Bethard Group Limited generated net gaming revenues of approx $ 31 million last year, when this acquisition is expected to increase the total value of his own company by 2022 proceeds by at least $ 5 million to a place in the region $ 105 million .
Read Johnson's statement ...
”This is another great addition for Esports Entertainment Group Incorporated that significantly increases our revenues and available markets . We are expecting this transaction get two new licenses for the games , including one in a strategically important Swedish market. us six level one licenses . "
Esports Entertainment Group Incorporated described Bethard Group Limited, which was founded in 2012, as "an iGaming company that offers sports betting and online casino games" via the domain at Bethard.com . It was found that the operator, moreover, " places great emphasis on responsible gambling "Courtesy" best-in-class compatibility features "as" to operate properly and sustainably on regulated markets. "
Maintaining offices in Malta, New Jersey and the United Kingdom, Esports Entertainment Group Incorporated ended by citing the domain of online market research at ResearchAndMarkets.com claiming that the value of the global gaming market has reached last year $ 167.9 billion and is expected to increase by around 9.2% year on year, peaking $ 287.1 billion by the end of 2026.