Esports Entertainment completes acquisition of EGL

News  /  Published 22 Jan 2021  / 
Esports Entertainment Group has completed its acquisition of esports events organiser Esports Gaming League (EGL).

Financial details of the agreement were not disclosed, but Esports Entertainment previously said it expected EGL to generate triple-digit growth, after the business recorded $1.3m in revenue in 2019.

EGL organises live and online esports events, with more than 350,000 gamers registered to its proprietary technology platform. The business also offers live broadcast production and game launches.

Esports Entertainment first announced details of the acquisition deal in August 2020 and last month said it hoped to complete the purchase before the end of January.

“As part of the Esports Entertainment Group family, we now have the opportunity to push our technology and resources to further grow our client roster,” EGL chief executive Glen Elliott said.

Esports Entertainment chief executive Grant Johnson added: “EGL technology underpins the esports programs for some of the world’s best-known sports franchises, including the LA Kings, Philadelphia Eagles, and Arsenal Football Club.

“We plan to build on this strong foundation moving forward, driving near-term revenue growth and long-term shareholder value improvement.”

 

Source: iGB News