Esports Entertainment Group Provides Update on ggCircuit Acquisition and its South Bend Century Center Esports Arena Project
November 05 2020 - 8:30AM
Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the
“Company”), an online esports tournament and gaming
company, today announced ggCircuit LLC (“ggCircuit”) is
expected to complete the buildout of the Century Center Esports
Arena in South Bend, Indiana by mid-December 2020.
The Company entered into an agreement in October
2020 to acquire ggCircuit and Helix eSports LLC (“Helix”) in a deal
valued at approximately $43 million.
The Century Center Esports Arena will serve as a
destination for esports and gaming enthusiasts in the South Bend
metro area. Located in the city’s convention center, visitors will
be able to participate in live events and tournaments, as well as
spectate. The semi-permanent installation will create a unique
environment for esports events as well as provide a location for
attendees of other Century Center events to participate in gaming
activities. ggCircuit won the mid six-figure contract
in a competitive public bidding process that concluded in late
September.
Jeff Jarnecke, Executive Director at the City of
South Bend, Indiana, shared, “The city has recognized that esports
is a growing community and we look forward to partnering with
ggCircuit and Esports Entertainment Group to bring this facility
online to engage with esports enthusiasts from around the world
during their visit to South Bend.”
ggCircuit is leveraging its specialized
professional services team to coordinate purchasing, installation,
and final design modifications, as well as deploying ggLeap,
ggRock, and integrating the ggCircuit operation system into all
facets of the player and administrative experience.
“The Century Center project is just one example
of the many exciting projects we have underway,” commented Michael
Winger, Director of Professional Services at ggCircuit. “The rapid
growth in esports, and the synergies from our acquisition by
Esports Entertainment Group, should allow us to significantly
accelerate our revenue growth.”
"ggCircuit has built a great business that is a
strong complement to our Three Pillar Strategy,” stated Grant
Johnson, CEO of Esports Entertainment Group. “We look forward to
completing the acquisitions of ggCircuit, Helix, and other
exciting, high-growth businesses in the coming months and quarters
as we continue to execute on our vision of building the leading
global brand in esports.”
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. ggCircuit has over 1,000 connected locations
and has worked with enterprises such as GameStop, Dell, Best Buy
and Lenovo as well as universities such as Ohio State, Syracuse and
North Carolina. Their ggLeap product has over 60 million hours of
usage by over two million unique gamers on tens of thousands of
public gaming screens inside centers worldwide.
About Esports Entertainment GroupEsports
Entertainment Group, Inc. is a licensed online company with a
specific focus on esports and gaming. Esports Entertainment offers
fantasy and pools on various esports events in a licensed,
regulated and secure platform at vie.gg. In addition, Esports
Entertainment 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 is led by a team
of industry professionals and technical experts from the online
gambling and the video game industries, and esports. The Company
holds a license to conduct online gambling and 18+ gaming on a
global basis in the UK, Ireland, Malta and Curacao. The Company
maintains offices in New Jersey, the UK and Malta. For more
information visit
www.esportsentertainmentgroup.com.FORWARD-LOOKING
STATEMENTSThe information contained herein includes
forward-looking statements. These statements relate to future
events or to our future financial performance, and involve known
and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance, or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current
views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and liquidity.
We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking
statements contained in the Securities Litigation Reform Act of
1995 protects companies from liability for their forward-looking
statements if they comply with the requirements of the Act.
Contact:
U.S. Investor Relations RedChip Companies,
Inc.Dave Gentry407-491-4498dave@redchip.com
Media & Investor Relations
InquiriesJeff@esportsentertainmentgroup.com
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