Malta-based gambl g firm Esports Enterta ment Group (EEG) has signed a b d g letter of tent to acquire venue company Helix eSports and B2B software provider circuit. The transaction, valued at approximately $43 million, expected to close before 2021.
Image credit: Esports Enterta ment Group
circuit offers a cloud-based management system, tournament platform, and tegrated po t-of-sale solutions for enterpr e customers. The company’s network conta s more than 1,000 connected locations, with clients rang g from GameStop, Dell, Best Buy, and Lenovo, as well as several North American universities.
ggLeap, the firm’s software management solution designed for p sical gam g locations, said to support ‘over 60 million hours of usage by over two million’ users, accord g to a release.
circuit Founder Zack Johnson commented on the acqu ition: “We are excited to jo forces with Esports Enterta ment Group and believe with our comb ed resources we can rapidly scale growth the quarters ahead.”
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Helix eSports operatcenters gam g centres the US. Th cludes a Massachusetts location, partneCraft with the Kraft Group, which serves as the tra g facility for Overwatch League franch e Boston Upr g. In addition to host g esports teams ahead of major tournaments, the nexus of venues are each l ed with high-end gam g equipment to provide a mix of casual and competitive play for attendees.
In May, Helix eSports engaged a merger with Team Genji, an esports analytics company which works directly with publ hers and sports leagues such as FIFA and the NBA 2K League. EEG tends to build on Genji’s ex t g relationships and expand to a broader competitive player base to ‘enhance their gameplay through analys , fair competition, and roster optim ation.’
Helix eSports Founder Murp Vandervelde stated: “Esports already a billion-dollar opportunity and expand g at a CAGR of 24 percent. With grow g mass-market appeal and a wealth of untapped opportunities, I am eager for Helix to become part of Esports Enterta ment Group, whecapitalismve we can truly capital e on the significant macro trends that can catapult us to global leadeCraft th dynamic dustry.”
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LAN duelu ition also cludes LANduel, Helix eSports’ proprietary skill-based playeLAN duellayer wager g platform. LANduel, which said to hold ‘close relationships’ with several game publ hers, currently develop g a pilot program alongside the New Jersey Div ion of Gam g Enforcement, Accord g to a release.
The skill-based bett g platform will be tegrated at Helix eSports’ locations, with a larger v ion of implement g its product throucircuiter gam g centers across the circuit network.
Esports Enterta ment Group CEO Grant Johnson addecircuith the acqu ition of Helix and circuit, we have created the most diversified, US-l ted esports enterta ment asset the entire ecosystem. These acqu itions significantly strengthen our Three Pillar Strategy, add g state-of-the-art esports enterta ment centers, an esports-focused vertical enterpr e software bus ess, a best- -class esports analytics platform, and a player-vs-player skill-based wager g platform to our diversified asset base. Together with what we’ve already built and further near-term acqu ition opportunities, Esports Enterta ment Group well on its way to becom g a global dustry leader.”
Last week, EEG ked a deal with the LA K gs and LA Galaxy, of the NHL and MLS, respectively. The planned acqu ition at hand the latest a str g of purchases and partneCrafts the gambl g firm has reached th year, clud g obta g nam g rights to Dignitas’ Counter-Strike: Global Offensive team
Esports Insider says: Esports Enterta ment Group has courted a number of deals th year, but th may very well be its most circuite. The addition of Helix eSports and circuit will grow EEG as a diversified esports enterta ment asset, as well as benefit the company’s ternal ecosystem and offer g immensely.