Esports Entertainment Group (EEG) has had a busy last few years. The Malta-based online sports wagering service has positioned itself as a primary player in the relatively-young esport industry. While EEG has been wheeling and dealing since 2008, they’ve become a force thanks to recent acquisitions and partnerships.
Who is the Esports Entertainment Group?
Esports Entertainment Group began as an online wagering service but has become much more. EEG became the first esports betting company to launch an initial public offering in mid-April this year, becoming a publicly-traded company on NASDAQ Capital Market.
Esports Entertainment Group made headlines in early June, hiring Magnus Leppäniemi to serve as Vice President of Marketing and Head of Esports at Vie.gg, EGG’s online betting service. Leppäniemi has an extensive career in the world of esports and gaming. He has managed esports partnerships for companies like Intel, Electronic Arts, Activision, and the NBA. Landing a high-profile executive like him is a positive sign for the emerging esports powerhouse.
Esports Entertainment Group expands services.
In late October, Esports Entertainment Group acquired Helix eSports and ggCircuit for $43 million. The move represents a rapid expansion into new areas of the esports industry.
Offering integrated point-of-sale solutions for enterprise customers, a tournament platform, and a cloud-based management system, ggCircuit is a robust and versatile business. Their network contains more than 1,000 connected locations, with prominent clients including Best Buy, GameStop, Lenovo, and Dell.
By acquiring Helix eSports, EEG extends its footprint into the esports venue business. Helix eSports operates five gaming centers across America. With this purchase, EEG can host in-person esports tournaments while also attracting casual gamers seeking to play with high-end equipment. These venues will pair nicely with EEG’s newly acquired software management solution, ggLeap, designed for physical gaming locations. It is also capable of supporting over 60 million hours of usage across two million users.
Helix eSports skill-based player-vs-player wagering platform, LANduel, will provide another addition to EEG’s array of gaming wagering opportunities. LANduel’s product will now be available at gaming centers across the ggCircuit network.
Esports Entertainment Group’s notable transactions
EEG’s latest moves are a game-changer, but it isn’t the first time EEG has made wise decisions to grow their visibility within the esports industry and beyond. Just weeks ago, EEG pulled off a marketing deal with the National Hockey League’s Los Angeles Kings and Major League Soccer’s Los Angeles Galaxy. Per terms of the agreement, Esports Entertainment Group will host branded online tournaments through the Esports Gaming League’s online tournament service.
It won’t be the first time EEG hosts an online gaming tournament. In July, EEG entered into a deal with Allied Esports to introduce the VIE.gg Counter-Strike: Global Offensive Legend Series. The tournament was a success, as Winstrike defeated Team Heretics to earn €15,000.
The deal comes on the heels of EEG’s acquisition of Esports Gaming League (EGL), another recent notable acquisition. EGL has a long history of organizing gaming tournaments for FIFA, Fortnite, Call of Duty, and Gears of War. In June of 2019, EEG announced a multi-year sponsorship deal with esports organization Dignitas.
Esports Entertainment Group looms large within the industry thanks to their successful business ventures and earned a reputation as a company, always keeping their eyes towards expansion.
Written by Christopher Connors