Esports Entertainment Group Inc (NASDAQ:GMBL) has signed a licensing and sponsorship agreement with Allied Esports for the upcoming inaugural VIE.gg Counter Strike: Global Offensive (CS:GO) Legend Series tournament.
The event, which begins on August 31, will see 12 teams from various European countries compete for €50,000 in prize money. The 5v5 tournament will be offered to customers on the VIE.gg platform and produced by Allied Esports from its HyperX Esports Studio in Hamburg and broadcast live on Twitch.
“We’re excited to partner with an industry leader, Allied Esports, as the title sponsor of their newest esports tournament,” Esports Entertainment CEO Grant Johnson said in a statement. “Title sponsorship places the VIE.gg brand front and center for teams, fans and influencers alike, further accelerating user adoption of the VIE.gg platform."
The Allied Sports tournament consists of 11 days of single matches where teams can accumulate points and prize money for each win. The top eight teams will advance to a best-of-three bracket, which will be played over the last three days of the tournament.
“We believe that esports tournaments should not just be fun for participants, but also have the ability to help sponsors achieve their business goals, and our knowhow and portfolio of esports brands, arenas, mobile trucks and studios uniquely meet that need in today’s ecosystem,” Allied Esports CEO Frank Ng said.
“The Legend Series has been one of our most successful original tournament brands and we are thrilled to work with Esports Entertainment Group and the VIE.gg platform to add a wagering component that will introduce Allied Esports to new consumers and elevate the brand even further,” he added.
Teams at Tier 2 or below interested in participating can apply here starting July 15, and invitations will be sent out on July 17.
“We’re excited to play a role in providing a platform for smaller teams to compete for prize money,’’ Esports Entertainment VP of Marketing and Head of Esports Magnus Leppaniemi said.
“While the largest esports teams earned tens of millions of dollars in prize money last year, there are hundreds of smaller teams that get excluded from the flagship competitions. The VIE.gg CS:GO Legend Series is our first effort at working to fill this void, and we look forward to getting involved in more events like this moving forward,” Leppaniemi added.
Esports Entertainment, based in Malta, offers fantasy sports, pools, fixed odds and exchange-style wagering on esports events.
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