eSports betting could become a massive investment opportunity. In fact, “According to the Market Insight Reports global eSport betting market will have a CAGR of 13.1%% in the next four years. In other words, the market’s worth is expected to reach $13.05 billion in this period,” as noted by Geek Insider. Better, the Esports boom shows no clear signs of slowing. According to Insider Intelligence, “As competitive video games continue to integrate into popular culture, global investors, brands, and media outlets are all paying attention. Consumers are as well. In fact, there will be 26.6 million monthly esports viewers in 2021, up 11.4% from 2020, according to our estimates.” That could drive even more eSports betting interest, while fueling opportunity for Esports Technologies Inc. (NASDAQ:EBET), Score Media and Gaming (TSX:SCR)(NASDAQ:SCR), International Games Technology (NYSE:IGT), Scientific Games Corporation (NASDAQ:SGMS), and Boyd Gaming (NYSE:BYD).
Look at Esports Technologies Inc. (NASDAQ:EBET), For Example
Esports Technologies Inc., a leading global provider of advanced esports wagering products and technology, announced today the execution of a definitive agreement for the acquisition of Aspire Global’s (STO: ASPIRE) B2C business in a $75.9 million transaction, including $58.3 million in cash, $11.7 million in a promissory note and approximately $5.9 million worth of common stock. The closing of the acquisition is subject to Esports Technologies’ receipt of financing, as well as other closing requirements. The transaction is expected to close by November 30, 2021.
Under the terms of the deal, Esports Technologies will acquire Aspire’s portfolio of B2C proprietary online casino and sportsbook brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Strategically, Esports Technologies intends to utilize the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customers.
In the most recent 12-month period ending June 2021, Aspire Global’s B2C revenue was $73.9 million and its EBITDA was $8.2 million. During the same period, the B2C business recorded wagering of $1.8 billion and over 1.3 billion bets.
Upon completion of the acquisition, Aspire and Esports Technologies will enter into an agreement where Aspire will provide four years of managed services for the acquired brands, ensuring operational continuity while allowing Esports Technologies to scale its operations in key markets.
Aaron Speach, CEO, Esports Technologies, said, “The acquisition of Aspire’s B2C business will give us an opportunity to accelerate growth by offering esports wagering to 1.25 million new deposited customers. Our company is in a strong position to benefit from the heightened popularity and growing interest in esports.”
Tsachi Maimon, CEO of Aspire Global, said: “Esports Technologies is a strong company with high growth ambitions and is a perfect match for our B2C brands. With Aspire Global’s B2C brands, Esports Technologies gains leading, well-established brands, an excellent base for further growth and a very talented team that contributed to the B2C’s growth. We are confident that Esports Technologies will take our B2C brands to the next level, and we welcome Karamba and the other B2C brands as our new partners.”
Other related developments from around the markets include:
Score Media and Gaming announced that its wholly-owned subsidiary, Score Digital Sports Ventures (Canada) Inc., has entered into a multiyear agreement with Golf Canada to become its Official Gaming Partner. The exclusive partnership makes theScore Bet the first ever gaming partner for Golf Canada and its prestigious National Open Golf Championships - the CP Women’s Open and the RBC Canadian Open. The partnership, which begins in 2022, provides theScore Bet with access to activate across Golf Canada’s high-profile events and large digital footprint. As an exclusive gaming partner of the RBC Canadian Open and the CP Women’s Open, theScore Bet will be able to engage fans through a variety of on-site activations, including creating members club experiences for theScore Bet users, as well as digital activations through both tournaments and Golf Canada’s channels.
International Games Technology announced that its U.S. market-leading PlaySports platform will power sports betting at Angel Of The Winds Casino Resort in Arlington, Wash. Operated by the Stillaguamish Tribe of Indians, the casino will leverage IGT's PlaySports turnkey solution for retail and on-premise mobile sports betting. "Angel Of The Winds Casino Resort patrons will be able to experience this new and exciting form of gaming from anywhere on our property, thanks to IGT's omnichannel PlaySports platform," said Travis O'Neil, Angel Of The Winds Casino Resort CEO."IGT's comprehensive PlaySports solution, paired with the company's extensive experience and expertise, will enable us to offer a world-class sports betting operation for many years to come."
Scientific Games Corporation entered into a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings, Inc, a global sports and entertainment company, in a cash and stock transaction valued at $1.2 billion. Under the terms of the agreement, Scientific Games will receive $1 billion in cash and $200 million in Endeavor Class A common stock based on the volume-weighted average trading price of the Class A Common Stock for the twenty (20) trading days ending on September 24, 2021, subject to customary purchase price adjustments. The transaction is expected to close in the second quarter of 2022, subject to applicable regulatory approvals and customary closing conditions.
Boyd Gaming reported financial results for the second quarterended June 30, 2021. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Our second-quarter results reflect the strength of our operating strategy as our streamlined cost structure, enhanced capabilities and focus on our core customers all continue to drive strong results throughout our portfolio. We achieved record results for Adjusted EBITDAR and operating margins, with Companywide margins exceeding 43% and Las Vegas Locals margins approaching 57%. During the quarter our business continued to strengthen, as gaming revenues surpassed 2019 levels. We are encouraged that the strength from the first half of the year has carried into July, and are confident in our ability to continue delivering robust levels of EBITDAR and margin performance. These outstanding results are a tribute to the hard work of the entire Boyd Gaming team and their shared dedication to our transformed operating model, which will continue to create long-term value for our stakeholders."
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Esports Technologies Inc.by Esports Technologies Inc. We own ZERO shares of Esports Technologies Inc. Please click here for full disclaimer.
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