Esports gambling company ‘Esports Entertainment Group’ has signed a letter of intent to acquire the Esport Gaming League (EGL) from XSeries LTD.
Established in 2005, EGL is a broadcaster and event organizer for online tournament events.
EGL is coordinating Call of Duty, FIFA, Fortnite, Gears of War, VALORANT, and WST Snooker gaming tournaments. In December 2019, the firm collaborated with the Club Arsenal FC to handle the PES eFootball roster for the eFootball League of Konami. It operates also with the Alliance in order to provide war sports gear.
“In our IPO we committed to developing and running a tournament platform before the end of this calendar year and through this agreement, we have fulfilled this commitment. Grant Johnson, CEO of the Esport Entertainment Company, commented in a release on the possible deal: EGL ‘s sales last year amounted to about $1.3 million and is poised for a three-digit increase to continue.
“Our complementary network, vast user base, excellent team, and branded collaborations are the main drivers for this transaction. I believe that together, in America and internationally, we can accelerate growth.
Esports Entertainment Group has tried to boost its portfolio in recent months, by taking over the properties from mobile games developer FLIP Sports from LHE Companies, the online sportsbook and casino operator Argyll Entertainment.
Glen Elliott, CEO of EGL, further added: “We are extremely excited to be joining the Esports Entertainment Group family, it will give us an opportunity to push our technology and resources to further grow our client roster. The vision Grant has around building an esports ecosystem is visionary for the industry and EGL is a perfect fit.”