Esports’ big deal: Esports Entertainment Group to acquire Helix, ggCircuit in

Esports Entertainment Group entered into an agreement to acquire ggCircuit and Helix eSports LLC in a deal valued at approximately $43 million.

CEO Grant Johnson said the acquisitions help round out the lineup at Esports Entertainment Group.

“With the acquisition of Helix and ggCircuit, we have created the most diversified, U.S.-listed esports entertainment asset in the entire ecosystem,” Johnson said in a statement.

“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.”

Esports Entertainment Group is a licensed online company with a specific focus on esports and gaming. The company, which holds a license to conduct online gambling and 18+ gaming on a global basis in the U.K., Ireland, Malta and Curacao, maintains offices in Newark as well as the United Kingdom and Malta.

Johnson said he feels the acquisitions will adds 2 million unique gamers to its platform, add more than 1,000 connected locations and a state-of-the-art analytics platform as well as build its presence in the U.S., as Helix eSports owns two of the five largest esports entertainment centers in the country.

In addition, Johnson feels the deal will add safe and regulated player-vs.-player wagering opportunities with Helix’s LANduel platform, which is in a pilot program with the New Jersey Division of Gaming Enforcement.

The company said it plans to provide an update to its fiscal year 2021 guidance of $13 million after closing this transaction. Fiscal year 2022, which ends June 30, 2022, has been raised from $25 million to $42 million.

Here’s more on the acquisitions:

ggCircuit: It is a B2B software company that provides cloud-based management for LAN centers, a tournament platform and integrated wallet/point-of-sale solutions for enterprise customers. 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. Its ggLeap product has over 60 million hours of usage by over 2 million unique gamers on tens of thousands of public gaming screens inside centers worldwide.

Zack Johnson, founder of ggCircuit, was pleased with the deal.

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

Helix eSports: It owns five…

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