Esports Technologies lands UK licence

Esports Technologies has made its first step into the regulated UK market through an operator services agreement and its acquisition of Aspire Global’s B2C assets

Esports Technologies has made its 1st stone's throw into the regulated UK securities industry through and through an operator services understanding and its acquisition of Aspire Global’s B2C assets.

The esports wagering stage business has been granted access to Aspire’s UK player home and rights after it brought several of the company’s B2C brands under its umbrella via a remunerative acquisition agreement.

In October, both parties in agreement(p) a trade amounting to $75.9m, with $58.3m to follow paid inwards cash, $11.7m via a promissory note of hand and the remaining $5.9m delivered inwards usual stock.

Under this agreement, several UK-facing online sportsbook and casino brands — Karamba, Hopa and Griffon Casino — were acquired by Esports. At the time, its CEO Aaron Speach called the dealings “a transformative opportunity to accelerate growth.”

This was finalised towards the stop of November, and has seen Esports obtain a UK licence. According to the company, of the 1.25 one thousand thousand deposited customers gained, the legal age of them are from its UK-focused brands.

Meanwhile, other brands acquired include BetTarget, Dansk777 and GenerationVIP. Altogether, they recorded wagering of $1.86bn and $183m inward hard cash deposits inwards the to the highest degree recent 12-month point conclusion September 2021.

Esports highlighted that revenue from Britain’s gaming sector totalled $19.2bn from April 2019 to March 2020 and of this figure, online gaming contributed 40%.

“Gaining get at to this UK gaming licence is a monolithic strategical milestone for Esports Technologies,” remarked Bart Barden, Esports Technologies COO. “We’re thrilled near this highly remunerative gaming market, and we looking frontwards to bringing our portfolio of esports products to the UK.”

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