Esports Entertainment Group, Inc., a licensed online gaming firm with a focus on esports betting and over-18 gambling, announced the completion of a deal involving the acquisition of some assets of FLIP Sports Limited (“FLIP”), including staff and all intellectual property.
“This is a major step forward for Esports Entertainment Group, placing us in a position where we own and control our tech stack,” commented Grant Johnson, CEO of Esports Entertainment Group.
“With this transaction, we’re also gaining a world-class development team with a specific expertise in gambling, along with award-winning customized software, and as a bonus, they have existing revenue which adds to our financials.”
FLIP sports is a dynamic and entrepreneurial mobile games studio redesigning how players enjoy and engage with live sports.
Through its proprietary in-play, P2P technology, FLIP offers an extraordinary multi-platform second-screen experience within a social, competitive and entertaining gaming environment for thrill-seeking sports and betting enthusiasts who love watching live sport events.
“As leaders in building iGaming platforms, the FLIP team is a welcome addition to Esports Entertainment Group and will enable us to take the player experience to new heights, ultimately creating a best-in-class immersive experience for esports fans,” said John Brackens, CIO/CTO of Esports Entertainment Group.
Global esports revenues are expected to increase 15.7% year-on-year to $1.1B this year, as per Newzoo, whereas the global esports wagering sector is projected to reach $17.2B by the end of 2020, according to data from Esports Insider.
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