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Esports Entertainment to acquire Helix eSports and ggCircuit for $43m

27th October 2020 7:52 am GMT
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Playtech

New York-listed Esports Entertainment Group has entered into an agreement to acquire ggCircuit and Helix eSports in a deal worth $43m.

The deal will strengthen Esports Entertainment’s presence in the global esports entertainment market, adding 2m unique gamers to its platform, more than 1000 connected locations, as well as five esports centers.

“With the acquisition of Helix and ggCircuit, we have created the most diversified, US-listed esports entertainment asset in the entire ecosystem,” said Esports Entertainment Group CEO Grant Johnson. “These acquisitions significantly strengthen our Three Pillar Strategy, adding state-of-the-art esports entertainment centers, an esports-focused vertical enterprise software business, a best-in-class esports analytics platform, and a player-vs-player skill-based wagering platform to our diversified asset base.

“Together with what we’ve already built and further near-term acquisition opportunities, Esports Entertainment Group is well on its way to becoming a global industry leader.”

Indiana-based ggCircuit has over 1,000 connected locations and has worked with enterprises such as GameStop, Dell, Best Buy and Lenovo, as well as universities such as Ohio State, Syracuse and North Carolina.

“We are excited to join forces with Esports Entertainment Group,” said ggCircuit founder Zack Johnson. “With our combined state-of-the-art platform and resources, I am confident that we will rapidly scale growth in the quarters ahead.”

New Jersey-based Helix eSports owns five esports centers, including two of the five largest centers in the United States. It also owns analytics provider Genji Analytics and the LANduel player-vs-player sports betting platform, which is in a pilot program with the New Jersey Department of Gaming Enforcement.

“Esports are already a billion-dollar opportunity and expanding at a CAGR of 24 per cent,” said Helix founder Murphy Vandervelde. “With growing mass market appeal and a wealth of untapped opportunities, I am eager for Helix to become part of Esports Entertainment Group, where we can capitalize on the significant macro trends that will help catapult us to global leadership in this dynamic industry.”

Genji founder William Collis added: “Some of the best publishers and leagues already rely on Genji as the trusted analytics provider. I am thrilled with the opportunity to work together with the Esports Entertainment Group team to build on our extensive successes as we seek to become the dominant player in the global market.”

Shares in Esports Entertainment Group Inc (NSQ:GMBL) closed 4.35 per cent higher at $4.80 per share in New York Monday.

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