Esports Ent completes Argyll acquisition

Esports Entertainment Group has completed its acquisition of betting operator Argyll and announced the appointment of a new vice president.

Malta.- The esports betting operator, Esports Entertainment Group, has completed its acquisition of online betting and gaming operator Argyll Entertainment for an undisclosed sum.

The Nasdaq-listed operator has acquired Argyll’s parent company LHE Enterprises and its operating subsidiaries, which include Argyll’s flagship Sportnation.bet brand, which it launched in the UK and Ireland 2017.

The brand generated €10.1m in revenue in 2019.

Esports Entertainment chief executive, Grant Johnson, said the acquisition was a “tremendous milestone” for the operator.

He added that the company would now look for further strategic acquisitions.

It recently sealed an agreement with advisors Akur Capital to support its M&A strategy.

Johnson said: “With Argyll’s base of more than 100,000 registered users, combined with the deep domain knowledge of its accomplished team, we have a strong foundation to build upon as we seek to capitalise on the wealth of opportunities ahead in this rapidly growing market.”

Esports Entertainment has also appointed equity analyst Jeff Cohen as Vice President for Strategic Planning and Investor Relations.

Cohen has covered gaming and esports as an equity analyst for Wall Street investment bank Stephens Inc since 2017. Prior to that he worked as an analyst with Barclays.

Cohen said: “I am excited to join the Esports Entertainment team and look forward to providing value as we work to capitalise on multiple opportunities in the rapidly evolving global esports market.”

Grant Johnson added: “Jeff has been a leading analyst in the gaming and esports arena, and his wealth of knowledge and relationships with major buyside players are great assets for us as we continue to execute on our growth strategy.”

In May, Esports Entertainment opened offices in New Jersey as it looks to expand in the US.