Esports Technologies got a much-needed boost after taking a tumble over the last week. The Las Vegas-based eSports wagering company managed to acquire a gaming license to operate in the UK. This permit now gives the company access to a massive market with an estimated worth of $19.2 billion. This is according to UKGC data.
The news of the license acquisition resulted in the jump in the company’s shares. Wednesday saw the shares jump by at least 3%. This was after they rose 5% on Tuesday. The growth couldn’t have come at a better time after the company suffered damaging stocks tumble at 17%+. This was a week ago.
The UKGC license acquisition came after Esports Technologies completed the acquisition of Aspire Global’s B2C consumer unit. Esports completed the deal for around $76 million in both stocks and cash. The acquisition means Esports Technologies now has access to over 1.25 million customers in the UK alone.
These are customers in Aspire’s sportsbook and casino brands. They include Hopa, Karamba, and Griffon Casino. The UK boasts of one of the most developed gaming markets worldwide. This means the license acquisition paired with Aspire’s B2C acquisition could see the company generate exciting results moving forward.
Also included in the Aspire transaction is a further acquisition of three brands:
Bart Barden commented on the latest achievement by Esports. The COO emphasized the importance of the UKGC license terming it as a significant milestone.
Gaming companies offering sports betting already on the stock market continue to get plenty of attention in today’s business world. That applies to companies offering casino gambling. But things may take a different turn as many jurisdictions continue greenlighting eSports betting. Entering the UK market means the company will have to rely on geo-diversity to lift its revenues.
Esports Technologies reports show the company has a $1.83 billion collective handle worth to date. It also has cash deposits worth 183 million for the period between September 2020 and September 2021.
Its sports betting platform is also performing well in Asia and Latin America. Esports accepts wagers on both traditional pro sports and eSports.
The company also launched an affiliate program now running on the Eaffiliates.com platform. This solution aims to engage business partners while offering them a commission based on the earnings which are dependent on the number of actual deposits as well as revenue they generate.
The eSports betting giant said its affiliate program comes with customizable commission plans. These plans include wagering verticals such as sports, eSports, and casinos. The company also boasts quantitative resources when it comes to analytics allows bettors to get the best odds in the industry.