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Esports Entertainment Group Inc signs up M&A advisor to explore expansions in iGaming

The company revealed that it is looking into acquiring iGaming operators to increase its reach in the oft-regulated gaming markets

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The online gambling company has employed Partis Solutions Limited as an M&A adviser

Esports Entertainment Group Inc (OTCMKTS:GMBL) has hired a mergers and acquisitions adviser to explore expanding in the iGaming sector, the company announced Thursday. 

The online gambling company has employed Partis Solutions Limited, a well-established corporate services provider to the gaming industry.

In a statement, Esports Entertainment revealed that it is looking into acquiring iGaming operators to increase its reach in the oft-regulated gaming markets as well as business-to-consumer iGaming brands that can hasten its growth.

READ: Esports Entertainment to offer e-sports betting in partnership with 76ers' owner Harris Blitzer Sports & Entertainment

CEO Grant Johnson believes Partis will help get the company where it wants to go.

“Rob and his team at Partis Solutions have years of iGaming M&A experience and extensive industry contacts,” Johnson said in a statement. “We are excited to have the opportunity to work together.”

Partis Managing Director Robert Downing expressed confidence in the Malta-based gaming and gambling company.

“Esports Entertainment Group is well positioned to take advantage of opportunities in the huge but highly fragmented iGaming market and we look forward to supporting them in their growth efforts,” said Downing.

Shares of Esports Entertainment surged 30% Thursday to $0.46.

—Updated to include stock movement—

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Esports Entertainment Group, Inc.

Price: 0.3 USD

OTCQB:GMBL
Market: OTCQB
Market Cap: $26.68 m
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