Vie.gg Parent Company Continues Expansion Into US And Ties Up Other Key Deals
The Esports Entertainment Group, who are the current owners of Vie.gg, are relative newcomers to the esports scene, but over the last few months, the company has been making some big strides in the market, notably in the US betting market.
The online gambling company focuses mainly on its esports betting market through the Vie.gg website although it has also earned a niche market as a facilitator of multi-player mobile and PC video game tournaments for players all over the world, with cash prizes up for grabs.
Nasdaq Listing
The move into the United States from a more Eurocentric approach (the head offices of the company were located in Malta and Warsaw, Poland) started back in April 2020 with the news that the company was priced at around $8.4 million via its Public Offering and was subsequently uplisted to the Nasdaq.
A month or so later, the CEO of Esports Entertainment Group, Grant Johnson, along with other members of the team and employees from around the globe were on hand to virtually ring the Nasdaq closing bell on July 21.
At the time Mr. Johnson stated:
“We are honoured to ring the closing bell in celebration of our successful listing on Nasdaq. The listing was a long-term goal for Esports Entertainment Group, which we believe will enable us to rapidly build the leading brand in esports betting and iGaming.”
In July, the company made its first acquisition as a Nasdaq listed company when they took over the Switzerland-based Argyle Entertainment, the online sportsbook and casino operator and this move allowed them to access the sportnation.bet site, which in turn granted them access to UK and Irish markets.
Naming Rights for Team Dignitas
The first real foray into the US however came with the acquisition in August of the naming rights for the legendary CS:GO team Team Dignitas. As part of the deal, Dignitas would now be called Digitas Vie.gg in official events and also meant that the company could also gain access to Dignitas’ New Jersey-based gaming facility.
However, that move was eclipsed just a few days later when it was announced that Esports Entertainment Group inc had entered into a multi-year deal with the New York Stock Exchange-listed company Twin River Worldwode Holdings Inc.
The partnership deal between the two companies will allow for Esports Entertainment Group’s mobile sports betting product to be made available in the state of New Jersey, ostensibly when Twin River obtain the regulatory approval to complete its own acquisition of Bally’s Atlantic City Hotel and Casino in Atlantic City.
“We are excited to partner with Twin River as we bring mobile sports betting to the New Jersey market,” stated CEO Grant Johnson following the deal. “When we completed our IPO on Nasdaq earlier this year, it was with the intention of expanding our operations in the US. With this partnership we are delivering on that goal.”
Since then the company has also agreed a deal with odds feed and risk management company Oddin to extend and improve the company’s esports betting services across a number of platforms. They have also acquired certain assets of FLIP Sports in recent times too including all intellectual property and staff.
It is clear that within just two years Esports Entertainment Group has grown into a truly global phenomenon and with UK Gambling Commission and Malta Gaming Authority licenses also agreed, the company looks set to be a key player in the esports and online betting industry moving forward.
Featured Image Credits: @eSportsEntGroup
Since: August 10, 2015
