Esports Technologies Allowed Doing Business in the United Kingdom
It is known that representatives of the Esports Technologies company received permits for doing business in the UK. At the same time, the organization entered into a contract for the provision of operator services in the region and acquired the assets of Aspire Global.
Following a mutually beneficial agreement, Esports Technologies gained access to the user base and rights of the Aspire Global organization in the UK. This company managed to combine several brands on the market at once.
Back in the fall, the parties agreed on a deal worth about $ 80 million. The representatives also agreed that $ 59 million will be paid in cash, $ 12 million in a bill of exchange, and another $ 6 million in shares. Such an outcome of events suited everyone.
As a result, Esports Technologies acquired several British brands on the market that are directly related to bookmaking and gambling – Karamba, Hopa, and Griffon Casino. In the opinion of the company’s management, this transaction will accelerate the growth of business development and improve processes within the organization.
The deal was completed at the end of November this year, and then esports was licensed in the country. According to the organization, about 1.3 million customers belong to purchased brands. They all target the United Kingdom.
Among other things, the company acquired several more well-known brands – BetTarget, Dansk777, and GenerationVIP. All of these brands have shown an increase in revenues lately. Therefore, the deal is positive for Esports Technologies.
Employees of the company stressed that from April 2019 to March 2020, gambling revenues amounted to almost $ 19.5 billion, as for online games, the figure was 40 percent. The country was taken into account by Great Britain.
Esports Technologies chief executive Bart Barden said that obtaining a license to operate in the UK is a strategic milestone for the company. All employees of the organization are very pleased with this entry into a new market. The company is now looking forward to expanding its esports portfolio in the region.