Wednesday, May 26, 2021
Esports Entertainment Group, Inc. (GMBL)
A Backyard Acquisition of Bethard
Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company’s principal business operations include design, develop and test wagering systems.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Adds Sweden and Spain to its gaming business. The company announced plans to purchase Bethard, a sports betting operator in Sweden and Spain for $19.5 million and 12% of net gaming revenue for 2 years. The company generated $31 million in revenue in 2020. As such, we estimate that the net purchase price will be roughly $27 million to $30 million. The acquisition is viewed favorably.
Strategically important market. Bethard offers an established gaming brand in the large Swedish esports market, providing significant cross selling opportunities for esports betting. Strategically important market. Bethard offers an established gaming brand in the large Swedish esports market, providing significant cross selling opportunities for esports betting …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
