Esports Entertainment Group Closes Acquisition of Lucky Dino, for Approx. $30M

esports entertainment

Esport Entertainment (Malta) Limited, the Malta gaming licensed subsidiary of Esports Entertainment Group, Inc. (NASDAQ: GMBL), (NASDAQ: GMBLW), a Newark, NJ-based n esports entertainment and online gambling company, completed the acquisition of the business assets of Lucky Dino Gaming Limited, an established Malta licensed online casino operator with its own proprietary casino platform.

According to an official press release, the amount paid was approx. $30m. It was financed through cash raised in an equity offering of 2,000,000 shares of its common stock at a price of $15.00 per share, priced at-the-market under Nasdaq rules.

With the acquisition of Lucky Dino’s assets, the company now obtain access to a premium casino platform based on modern microservices architecture, which enables enhanced simplicity, scalability, and flexibility.

Lucky Dino’s proprietary technology stack includes affiliate marketing software, payment servers, and a CRM system with a gamification and loyalty engine and automated player management functionality for geographical expansion.

The company generated $21.5M revenue and $4.0M EBITDA in FY20.

For traditional offerings, people can also have a look and Pay N Play online casinos.

Commenting on the deal, Grant Johnson, Esports Entertainment CEO, said: “In addition to further strengthening our tech stack, Lucky Dino’s assets will give us a substantial foothold in multiple new jurisdictions across Europe, particularly in Scandinavia where esports are extremely popular, and with Lucky Dino’s 25K monthly active casino players we will have tremendous cross-selling opportunities with our SportNation and betting platforms.

Esports Entertainment Group is an esports and online gambling company which operates a number of entities across three key units:

  1. esports entertainment and infrastructure,
  2. esports wagering,
  3. iGaming.

In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile, console and PC video game tournaments online for cash prizes.

This deal follows the acquisition, which was announced earlier in January 2021, of Esports Gaming League, a B2B-centric provider of live and online events and tournaments which enables players to compete and enjoy a wide range of content relating to esports and video games on a proprietary technology platform with over 350K registered gamers. Services include full esports events, live broadcast production, game launches, and online branded tournaments.