{"id":169919,"date":"2021-04-07T12:45:44","date_gmt":"2021-04-07T19:45:44","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=169919"},"modified":"2021-07-19T01:26:44","modified_gmt":"2021-07-19T08:26:44","slug":"esports-technologies-ipo-could-raise-up-to-10-million","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/","title":{"rendered":"Esports Technologies Eyeing IPO up to $10 Million, Could Debut Next Week"},"content":{"rendered":"

Las Vegas-based Esports Technologies is planning an initial public offering (IPO) in which it could raise up to $10 million. The company could list on the Nasdaq Stock Market as soon as next week.<\/p>\n

\"Esports
Scenes from the League of Legends spring series in 2019. Las Vegas-based Esports Technologies is planning an IPO. (Image: USA Today<\/em>)<\/figcaption><\/figure>\n

In an S-1 filing with the Securities and Exchange Commission (SEC), the operator of an online gaming platform said it plans to sell two million shares within an expected range of $4.50 to $5. Esports Technologies, which will trade under the ticker \u201cEBET,\u201d is classified as an emerging growth company.<\/p>\n

Among publicly traded gaming companies, those with internet casino and sports betting exposure are getting most of the attention.<\/a> But esports is a fast-growing theme in its own right. Esports Technologies gogawi.com platform is a sportsbook focusing on bettors in Asia and Latin America.<\/p>\n

We accept wagers on major esports titles including: Counter-Strike: GO, League of Legends, Dota 2, StarCraft 2, Rocket League, Rainbow Six, Warcraft 3, King of Glory <\/i>and FIFA<\/i>; as well as professional sports including the NFL, NBA, Major League Baseball, soccer and more,\u201d said the company in the S-1.<\/p><\/blockquote>\n

The Nevada company holds a license from the Curacao Gaming Authority and can accept wagers from punters in 149 jurisdictions. Historically, nearly all of the operator’s business was sourced in the Philippines. But that’s changing.<\/p>\n

\u201cDuring 2021 and in connection with the introduction of our updated website, we intend to target additional markets in which we are presently licensed to accept wagers, including Japan, Thailand, Mexico, and South America,\u201d said Esports Technologies.<\/p>\n

Esports Technologies Could Be Ground Floor Idea<\/h2>\n

In the US betting scene, esports is well behind newer concepts, namely iGaming and online sports betting. However, some operators see value in this frontier and are making deals<\/a> to prepare for what’s forecast to be exponential growth in the years ahead.<\/p>\n

\n

Potentially adding to the case for Esports Technologies stock is that policymakers and regulators are aware of the esports betting opportunity, too. For example, regulators in New Jersey allowed sportsbook operators to take action on the League of Legends<\/em> championship in November 2019, and that state is showing other signs of warming to esports wagering.<\/p>\n<\/div>\n

Last year, Nevada approved wagering on a trio of esports events. In March, policymakers there proposed Senate Bill 165. That legislation provides a framework for the state to create a commission regulating esports, perhaps paving the way for Nevada to become not only progressive on wagers tied to the activity, but to eventually be a hub for esports teams and competitions.<\/p>\n

Good Time to Join Party<\/h2>\n

News of Esports Technologies’ IPO plans extends a brisk pace of small-cap gaming companies<\/a> announcing share offerings, planning US listings, or both.<\/p>\n

\n

That makes sense because market participants are currently assigning lofty multiples to upstart betting companies. That’s amid expectations that industries such as iGaming and sports betting<\/a> are only beginning to scratch the surfaces of potential growth.<\/p>\n<\/div>\n

While Esports Technologies doesn’t generate revenue from the broader video game business or the advertising\/TV viewership side of esports, the outlook for betting growth here is compelling.<\/p>\n

\u201cAccording to H2 Gambling Capital and iGaming Business, the net revenue from regulated esports-specific betting will grow by 39 percent year-on-year in 2020, to reach $343 million, and by 2024, the market is projected to generate $862 million in revenue,\u201d said the company in the S-1.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas-based Esports Technologies is planning an initial public offering (IPO) in which it could raise up to $10 million. The company could list on the Nasdaq Stock Market as soon as next week. In an S-1 filing with the Securities and Exchange Commission (SEC), the operator of an online gaming platform said it plans […]<\/p>\n","protected":false},"author":46,"featured_media":169920,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3312,10],"tags":[],"acf":[],"yoast_head":"\nEsports Technologies IPO Could Raise up to $10 Million<\/title>\n<meta name=\"description\" content=\"Esports Technologies readies initial public offering as esports betting is poised to take off.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Esports Technologies IPO Could Raise up to $10 Million\" \/>\n<meta property=\"og:description\" content=\"Esports Technologies readies initial public offering as esports betting is poised to take off.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-07T19:45:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T08:26:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/ebet-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1704\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/\",\"url\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/\",\"name\":\"Esports Technologies IPO Could Raise up to $10 Million\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/ebet-scaled.jpg\",\"datePublished\":\"2021-04-07T19:45:44+00:00\",\"dateModified\":\"2021-07-19T08:26:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Esports Technologies readies initial public offering as esports betting is poised to take off.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-ipo-could-raise-up-to-10-million\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/ebet-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/ebet-scaled.jpg\",\"width\":2560,\"height\":1704,\"caption\":\"Scenes from the League of Legends spring series in 2019. 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