Esports Entertainment Group, a licensed next generation online gambling company focused on esports, has announced that it has established a new US-facing subsidiary, GMBL New Jersey.
According to the group, the new subsidiary will soon make its first application for a betting license in the state and will submit briefs for each of its license applications as they are submitted.
Grant Johnson, Chief Executive of Esports Entertainment Group, commented that the announcement marks yet another significant milestone and provides the market with even greater insight as to their growth strategy.
Johnson also said that the US market represents a very big opportunity for them and thanks to the continued support of their valued shareholders they intend to aggressively pursue it in 2020 and beyond
Forming the new subsidiary marks the latest in a number of expansion efforts for Esports Entertainment which was formerly known as Vgambling.
The group has also reported that it received an additional $1.9 million in funding from a public offering of securities which came after raising an amount of $885,762 earlier this month for total fundraising of $2.8 million.
The operator also signed a binding letter of intent this month to acquire LHE Enterprises, the holding company of online betting and gaming operator Argyll Entertainment.
Although the terms of the deal have not yet been disclosed, Johnson revealed that with Argyll generating annual revenue of around $12.0 million (£9.7 million/€11.1 million), the acquisition would have a ‘major positive impact’ on the business.
The rise in esports betting comes as a result of the suspension of almost all traditional sports due to the novel coronavirus (Covid-19) pandemic.
Quickspin’s new super fun and easy to play ‘Arcane Gems’ video slot game is due to be released on 9th June 2020.
The 5 reel and 9 pay line ‘Arcane Gems’ slot comes with high definition 3D graphics that pop out from the screen, an awesome Multiplier, free Re-Spins and a chance to win up to 5625x a player’s bet for getting a full screen with the same symbol.
‘Arcane Gems’ is playable from 10p up to £50 per spin on desktop, mobile or tablet devices and players can opt for Turbo Mode as well as use the Autoplay function to select up to 1,000 plays.
Symbols in the new video slot include low value heart, club, diamond and spade gemstones as well as 4 higher value gems. The most rewarding symbol is the blue diamond that pays 2.5, 8 or 25 times a player’s stake for landing 3, 4 or 5 in combination.
The video slot offers re-spins with held symbols and multipliers up to 5x when players fill a reel with winning symbols with multipliers that can combine for 25x multipliers. Wins of up to 5,625 x a player’s total stake can be received if filling a reel with the high value blue diamond symbol and getting 5x Multipliers from the Arcane Multipliers feature.
The RTP in the ‘Arcane Gems’ video slot is 96.05 per cent and with each winning combination triggering the Arcane Lock Mechanics feature players will get frequent wins with re-spins and locked winning symbols.
Leading multi-channel supplier of betting services Sports Information Services (SIS) has entered into an agreement with bookmaker Meridianbet that sees it enhancing its position within the Balkan markets.
In terms of the agreement, Meridianbet will gain access to SIS’s 24/7 live betting channel that features a mix of leading horse and greyhound racing and the supplier will also provide the bookmaker with profitable short-form content throughout the day, with a betting event taking place five minutes apart.
The channel will also show data and live pictures from British and Irish horse racing, along with international races from Dubai, Mauritius, Australia, Latin America and Korea, as well as UK and Irish greyhound racing events.
The deal will see SIS deploy its 24/7 Live Betting Channel across Meridianbet’s retail outlets in Montenegro, Serbia and Bosnia Herzegovina as well as online.
Zoran Milosevic, Chief Executive Officer at Meridianbet, commented that they are thrilled to have struck this deal with SIS for its 24/7 live betting channel and are excited about introducing it in-store and online to their customers.
He also said that they are confident that the channel will provide their customers with multiple quick-fire betting opportunities, which will help to increase engagement and provide incremental revenues.
Anze Gantar, Digital Sales Manager at SIS, said they are delighted that Meridianbet customers will now have access to a huge number of new betting opportunities thanks to their 24/7 live betting channel.
Gantar added that their premium horse and greyhound racing content is unrivalled in the industry and will provide over 80,000 live betting events each year.
Spain and Malta based casino games developer Red Rake Gaming has entered into a new partnership distribution agreement with GVC Holdings, one of the world’s largest sports betting and gaming groups.
In terms of the agreement, Red Rake’s vast range of portfolio offering and leading titles will be supplied to GVC’s players, who will gain access to the developer’s gaming portfolio and progressive tournament tool that will see it boost GVC’s existing casino offering across its leading gaming brands and markets.
Included in the games are Red Rake’s latest releases, ‘Mother of Horus’ – one of the fastest rising stars with fixed jackpots, free spins and non-stop action, ‘Gustav Minebuster’ – a cluster slot that allows players to win up to 20,000x and ‘Million7’ – 1 million ways for players to win with this 10×6 slot as well as the newest release ‘Secrets of the Temple’ slot in addition to top-performing partner games.
Nick Barr, Managing Director for Red Rake Malta, commented that this is a key partnership due to the synergies between the companies and allows them to increase their foothold in already very strong markets for their games.
Obdulio Bacarese, Director of Commercial Management at GVC, said that they are truly excited to be working with Red Rake Gaming, a provider that continues to bring innovative new themes to the market.
Bacarese went on to say that Red Rake Gaming’s diverse portfolio is a fantastic addition to their ever-expanding content across their sites and they look forward to building their partnership with Red Rake in the coming years.
McLaren Racing has entered into a new partnership with leading eSports provider Veloce Esports that will see it will deliver a multifaceted program around the rapidly-growing industry of gaming and sim racing.
In terms of the new partnership, Veloce will administer and expand McLaren’s elite esports team, concentrating on event success, gamer enhancement and the positioning of the esports team internationally.
McLaren and Veloce will also work together in order to create an establishment for the world’s up-and-coming racing gamers and establish a ‘staircase of talent’ – with the eventual objective being a seat in the McLaren esports team.
Mark Waller, Managing Director of Sales and Marketing at McLaren Racing, commented that they are delighted to begin this new partnership with Veloce Esports with their clear focus on continuing to engage a new, younger generation of motor-sports fans. He added that joining forces with an ambitious and forward-thinking company in Veloce is the next significant step to build on the great progress they have already made in the esports category over the last few years.
Waller went on to say that the popularity and growth of esports has been well-documented in recent weeks and that trend looks set to continue even once racing on track resumes. He also said that their aim is to develop and nurture fresh talent via the virtual academy, drive the performance of their esports team and carve new ways of attracting and interacting with fans from around the world.
Jack Clarke, CCO and Co-Founder of Veloce Esports, said that they are incredibly proud and look forward to building a full-scale esports ecosystem with McLaren.