Esports Entertainment Group to complete acquisition of EGL

The online gaming operator has finalised a binding agreement to complete the acquisition.

UK.- Esports Entertainment Group (EEG) has signed a binding agreement to complete its acquisition of the tournament organiser Esports Gaming League (EGL) with a target date of January 8.

EEG, which has offices in Malta, the UK and New Jersey, announced the proposed deal in August as part of a series of acquisitions to boost its presence internationally.

It said EGL’s platform, management team, advertising partnerships and the size of its user base made the acquisition a good fit. Financial details have not been released.

Grant Johnson, chief executive of EEG, said: “We are excited to finalise this acquisition and continue to expand EGL’s presence in North America.

“In addition to our announcements with the LA Kings, LA Galaxy and Philadelphia Union we are in discussions with many additional sporting organisations that are interested in exploring the ways that they can engage their fanbases through esports.”

EGL has sealed an agreement with Premier League side Arsenal to manage its Pro Evolution Soccer lineup for the eFootball League.

Chief executive Glen Elliott said: “We are extremely excited to be joining the Esports Entertainment Group family, it will give us an opportunity to push our technology and resources to further grow our client roster.

“The vision Grant has around building an esports ecosystem is visionary for the industry and EGL is a perfect fit.”

EEG said it expects to generate $13m in revenue in 2021 and $42m in 2022 following its acquisitions of Helix Esports and ggCircuit.