Esports Technologies, Inc. (EBET) experiences an incline of 6.46% in the aftermarket. However, the last trading session closed at $28.18 with an incline of 2.14%.
Esports Business Summit Awards Finalist
On 19th October 2021, EBET announced that it is a nominee for the Tempest Esports Business Awards in 2021 for industry excellence. For their real-time odds modeling and simulation system, the firm was nominated in the Innovative Use of Technology category. The technology uses powerful automated algorithms to calculate odds and betting markets in real-time for widespread esports betting. The Tempest Awards recognize the most creative firms and professionals in the esports sector each year. These awards are some of North America’s highest distinctions for the companies, teams, leagues, players, and business executives who are driving the competitive gaming industry.
Expansion with Addition of Third Office by EBET
EBET reported on 12th October 2021 that the company has built a new cutting-edge office in Malta. Working closely with the Esports Technologies office in Dublin, the Malta facility will house the majority of the Esports Technologies staff as well as direct European market operations. The extra office site will aid Esports Technologies’ expansion into Western Europe, which includes the United Kingdom, Germany, France, Italy, Spain, Belgium, Denmark, the Netherlands, and Ireland.
In addition, the company’s existing offices in Las Vegas and Dublin will be joined by the Esports Technologies Malta branch. The workplace will include an open floor plan with breakout areas. Lastly, the office will also include a dedicated esports lounge with gaming consoles, a complete kitchen and bar, and direct access to Balluta Bay from the terrace.
Acquisition of Aspire Global’s B2C business
On 1st October 2021, EBET announced the acquisition of Aspire Global’s B2C business. The company has made a deal of $75.9 million and has purchased Aspire Global PLC’s B2C business. Moreover, the total value of the transaction is $58.3 million in cash, $11.7 million in a promissory note, and $5.9 million in common stock. Last but not least, the business plans to utilize the multiple-brand purchase to cross-sell esports wagering options. This will boost esports revenue, player bet transactions, and customer numbers.
Strategic Deal with Aspire Global and EBET
EBET reported on 20th September 2021 that Aspire Global has signed a strategic licensing deal with Esports Technologies. This will incorporate the company’s patented odds modeling, market formation, and trading feed into Aspire’s esports platform. Esports Technologies will be able to use Aspire’s solutions and managed services as a result of this partnership. Moreover, Aspire Global is a major B2B iGaming solutions provider, with a strong technological platform, proprietary casino games, a proprietary sportsbook, and a game aggregator. Lastly, Aspire also has a number of B2C brands, including Karamba, which is the company’s flagship B2B platform.
