Esports Entertainment Group, an esports betting operator, recently announced that it will close its acquisition of online betting and gaming operator Argyll Entertainment. He purchases will be complete by July 31. It is yet to finalize a definitive agreement for the acquisition.

What is the firm planning?

This move comes after the firm’s announcement in May that the operator had also signed a binding letter of intent to acquire LHE Enterprises, which is the parent company of Argyll. The company has not disclosed the terms of the deal yet. Grant Johnson, the chief executive of Esports Entertainment, described it as a major milestone for the business.

The two companies have already started integrating their businesses. Stuart Tilly, the chief executive of Argyll and Dan Marks, the finance chief have already joined the leadership team of Esports Entertainment. Tilly will be working as the corporate secretary and Marks will be working as the chief financial officer now.

Johnson said,

“They are a great addition to our organization and will help us build on Argyll’s base of more than 100,000 registered users, placing us in a great position to grow revenue moving forward.”

Access to content

According to Tilly, the deal would provide Esports Entertainment quick access to proprietary and exclusive content. This would include SportNation.bet, the flagship site of the company as well as its rewards program. Tilly said that he would help in driving the revenue of the company to $12 million in 2019. He said that the esports industry is looking the strongest in years.

He added that the strengthened financial position of the combined operations will help in leveraging the expertise and deep domain knowledge of the 30 strong staff in the marketing. Esports Entertainment Group will be in a position to capitalize on the opportunities that could help in rapidly grow its market. Esports was listed in the US Nasdaq stock exchange in April this year. It also worked on a series of fundraisers that helped in securing $6.2 million via warrants.