Esports Entertainment Group to Acquire Lucky Dino, for $30M


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Esports Entertainment (Malta) Limited, the Malta gaming licensed subsidiary of Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW), an esports entertainment and online gambling operator, is to acquire the business of Lucky Dino Gaming Limited, an established Malta licensed online casino operator with its own proprietary casino platform.

The estimated $30m deal (approx. €25m) is expected to be financed through a debt facility procured by the company.

Over the past five years, Lucky Dino has evolved from a single brand white-label casino operator into a multi-brand casino operator and technology business.

With the acquisition of its assets, Esports Entertainment will have access to a casino platform based on modern microservices architecture.

Lucky Dino today provides a proprietary technology stack that includes affiliate marketing software, payment servers, and a CRM system with a gamification and loyalty engine and automated player management functionality fit for geographical expansion.

They generated $21m revenue and $3.8m EBITDA in FY20 and is forecasted to generate $24m revenue and $5m EBITDA in FY21 and $29m revenue and $6.5m EBITDA in FY22.

As said by Grant Johnson, CEO, the acquisition will enable the company to further strengthen its tech stack and will give them a presence in multiple new jurisdictions across Europe and Scandinavia where esports are extremely popular. Beyond the old continent, people can also have at different offerings from Indian casino sites.

In addition, Lucky Dino’s 30K monthly active casino players will give a big cross-selling opportunities with the SportNation and Vie.gg betting platforms.

With main offices in New Jersey, the UK and Malta, Esports Entertainment offers fixed odds wagering, fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg and owns and operates online sports book, SportNation.bet. In addition, the company intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao.

In October 2020, Esports Entertainment acquired ggCircuit LLC and Helix eSports LLC in a deal valued at approximately $43 million.

ggCircuit 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.

Helix eSports owns five esports centers, offering a variety of experiences including casual play, competitive tournaments, STEM programming, high school leagues, large groups and esports bootcamps, and Genji Analytics, an esports-proven, publisher-trusted analytics provider.



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