{"id":194339,"date":"2021-12-07T08:43:25","date_gmt":"2021-12-07T16:43:25","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=194339"},"modified":"2021-12-07T10:03:29","modified_gmt":"2021-12-07T18:03:29","slug":"esports-technologies-says-its-getting-a-uk-license","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/","title":{"rendered":"Esports Technologies Rallies After Landing UK License"},"content":{"rendered":"

Shares of Esports Technologies (NASDAQ:EBET) are getting a lift after the company said it procured access to a UK gaming permit. COO Bart Barden calls the move a \u201cmassive strategic milestone.\u201d<\/p>\n

\"Esports
Gamers at the League of Legends world championships. Esports Technologies is entering the UK. The company says it’s a milestone. (Image: Parade<\/em>)<\/figcaption><\/figure>\n

The provider of esports wagering platforms and related technologies is higher by almost three percent today. That’s after trading higher by more than five percent earlier in Tuesday’s session. That temporarily stops some bleeding, as the stock tumbled 17.1 percent over the past week. Esports Technologies notes the UK license comes by way of its $75.9 million cash and stock acquisition of Aspire Global\u2019s business-to-consumer (B2C) unit announced in October<\/a>.<\/p>\n

Through the deal, Esports Technologies gained 1.25 million deposited customers, the majority of them from UK-focused online sportsbook and casino brands Karamba, Hopa, and Griffon Casino,\u201d<\/strong> according to a statement issued by the company.<\/p><\/blockquote>\n

The Las Vegas-based operator of an online gaming platform is also acquiring the BetTarget, Dansk777, and GenerationVIP brands in the transaction.<\/p>\n

Significant Move for Esports Technologies<\/h2>\n

Gaining access to the UK, which is one of the most mature gaming markets in the world, is a coup for Esports Technologies \u2013 an upstart that went public earlier this year<\/a>.<\/p>\n

\n

Among publicly traded gaming companies, those with internet casino and sports betting exposure are getting most of the attention.<\/a> But that could change as more domestic jurisdictions approve esports wagering. From Sept. 2020 to Sept 2021, Esports Technologies acquired a combined handle of $1.83 billion and cash deposits of $183 million.<\/p>\n<\/div>\n

\u201cThe UK offers one of the world’s largest gaming markets. According to the UK Gambling Commission, Great Britain’s gaming revenue<\/a> from April 2019 to March 2020 was approximately $19.2 billion. Online gaming has become the largest sector, accounting for roughly 40% of that total revenue,\u201d according to the company.<\/p>\n

Entering the UK also adds geographic diversification to Esports Technologies’ revenue stream. Currently, the company’s gogawi.com sports wagering platform does the bulk of its business in Asia and Latin America. Esports Technologies accepts wagers on esports as well as traditional professional sports.<\/p>\n

Aspire Deal Could Be Long-Term Positive<\/h2>\n

In addition to landing the coveted UK market access, the Aspire Global transaction could pay dividends for Esports Technologies in other ways.<\/p>\n

\n

For the 12 months ending June 30, Aspire’s B2C arm generated $73.9 million in sales and was profitable, posting earnings before interest, taxes, depreciation and amortization (EBITDA) of $8.2 million. Wagering volume was $1.8 billion on that platform over that time.<\/p>\n<\/div>\n

Shares of Esports Technologies are down 34.13 percent year-to-date.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Esports Technologies (NASDAQ:EBET) are getting a lift after the company said it procured access to a UK gaming permit. COO Bart Barden calls the move a \u201cmassive strategic milestone.\u201d The provider of esports wagering platforms and related technologies is higher by almost three percent today. That’s after trading higher by more than five […]<\/p>\n","protected":false},"author":46,"featured_media":194340,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3312,33810],"tags":[],"acf":[],"yoast_head":"\nEsports Technologies Says It's Getting A UK License<\/title>\n<meta name=\"description\" content=\"Esports Technologies is entering the UK, a move the company views as transformative.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Esports Technologies Says It's Getting A UK License\" \/>\n<meta property=\"og:description\" content=\"Esports Technologies is entering the UK, a move the company views as transformative.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/\" \/>\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=\"2021-12-07T16:43:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-07T18:03:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/lol.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"664\" \/>\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=\"2 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-says-its-getting-a-uk-license\/\",\"url\":\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/\",\"name\":\"Esports Technologies Says It's Getting A UK License\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/lol.jpg\",\"datePublished\":\"2021-12-07T16:43:25+00:00\",\"dateModified\":\"2021-12-07T18:03:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Esports Technologies is entering the UK, a move the company views as transformative.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/esports-technologies-says-its-getting-a-uk-license\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/lol.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/lol.jpg\",\"width\":1200,\"height\":664,\"caption\":\"Gamers at the League of Legends world championships. 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