Esports gambling operator Esports Entertainment Group signed a letter-of-intent to purchase certain assets from mobile game studio Flip Sports.
Esports Entertainment Group, an esports betting company, has signed a Letter of Intent to purchase certain assets from mobile game studio Flip Sports.
Flip Sports staff, as well as all of its intellectual property and assets will be under operator control after the closing.
Flip Sports’ proprietary peer-to-peer in-play technology provides fans and wagerers with a second screen experience across multiple platforms while watching sports live.
John Brackens, chief information officer at Esports Entertainment and chief technologist said that the Flip team is a leader in creating igaming platform which takes player experience to a new level.
Their expertise will help strengthen our efforts to create the best immersive experience possible for fans of esports.
Grant Johnson, the chief executive of Esports Entertainment, said that the acquisition will add value to the operator at a time when it is entering a “period of opportunity and rapid growth”.
Johnson stated that “as the US’s first igaming firm to be listed on Nasdaq we are well positioned to take advantage of the fragmented market for esports and will continue to look at acquisitions opportunities.”
Flip is the latest success story of the roll-up strategy.
This agreement follows the Esports Entertainment Group’s acquisition last month of online gaming and betting operator Argyll Entertainment, and its subsidiaries.
Akur Capital, an independent capital market adviser that helps identify deals for the business, has entered into a joint venture with it to assist in identifying additional M&A opportunities.
