Stockholm-listed iGaming operator Mr Green & Co is entering the eSports market through a new joint venture with Gamingzone Entertainment.

The JV will create a new community for eSports fans that will focus on entertainment, news and "gaming possibilities", with the as yet undisclosed brand set to launch during the third quarter of this year.

Mr Green will own 55 per cent of the business, with Gamingzone CEO and co-founder Karl Mikael Cakste initially heading up the JV.

“eSports is a quickly growing, global phenomena and an increasing number of fans are spending time on gaming as well as different kind of videos,” said Mr Green chief executive Per Norman. “Experts believe this can become as huge as traditional sports.

“We want to be part of this development and create a presence among all its fans. In Gamingzone, we have found a partner who understands esports, content and entertainment.”

Gamingzone's Mikael Cakste added that entertainment and betting within eSports is still immature, but he believes that there are  “interesting and entertaining ways of offering the fans something better than what we have seen so far.”

“We are happy to partner with Mr Green which is an established, knowledgeable iGaming company that acts responsibly and is long-term,” he said. “Our main ambition is to create a community where eSports fans from the entire world love to spend time. People of the age of 18 and older who want to bet will in due time be offered that opportunity under just and safe conditions."

Stockholm-based Gamingzone was founded last year and created Gamerz, a reality show which sees Counter-Strike: Global Offensive players compete for a chance to become eSports professionals.

Shares in Mr Green & Co AB (STO:MRG) were trading up 7.03 per cent at SEK49.50 per share in Stockholm Wednesday morning following the announcement and release of a trading update.

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