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Esports Entertainment takes control of its tech stack with acquisition of FLIP Sports Assets

FLIP Sports is a dynamic and entrepreneurial mobile games studio innovating how fans enjoy and engage with live sports

Esports Entertainment Group, Inc. - Esports Entertainment Group Takes Control of its Tech Stack with Acquisition of FLIP Sports Assets
Through its proprietary in-play, peer-to-peer technology, FLIP provides a unique multi-platform second-screen experience

Esports Entertainment Group Inc (NASDAQ:GMBL), a licensed online gambling company, announced Wednesday it has completed the acquisition of certain assets of FLIP Sports Limited, including staff and all intellectual property.

“This is a major step forward for Esports Entertainment Group, placing us in a position where we own and control our tech stack,” said Esports Entertainment CEO Grant Johnson in a statement. 

“With this transaction, we’re also gaining a world-class development team with a specific expertise in gambling, along with award-winning customized software, and as a bonus, they have existing revenue which adds to our financials.”

READ: Esports Entertainment appoints new independent director

FLIP Sports is a dynamic and entrepreneurial mobile games studio innovating how fans enjoy and engage with live sports. Through its proprietary in-play, peer-to-peer technology, FLIP provides a unique multi-platform second-screen experience within an entertaining, social, and competitive gaming environment for fun-seeking sports and wagering enthusiasts who enjoy watching live sports and events.

“As leaders in building iGaming platforms, the FLIP team is a welcome addition to Esports Entertainment Group and will enable us to take the player experience to new heights, ultimately creating a best-in-class immersive experience for esports fans,” said John Brackens, chief information officer/chief technology officer of Esports Entertainment.

Global esports revenues are expected to grow 15.7% year-on-year to $1.1 billion in 2020, according to Newzoo, while the global esports betting market is forecast to reach $17.2 billion by year-end, according to data from Esports Insider.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Esports Entertainment Group, Inc.

Price: 4.18 USD

NASDAQ:GMBL
Market: NASDAQ
Market Cap: $48.59 m
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