Esports Entertainment Group appears ready to capitalize on the burgeoning sports betting scene in the Garden State following the debut of its new office in Hoboken, New Jersey.

EEG’s New Office in Garden State

As it awaits the release of its gaming license, the full-stack esports and online gambling company has gone ahead of schedule by establishing its New Jersey office.

This development marks an important phase in the company’s relentless US expansion.

Dan Marks has also become EGG New Jersey’s head of office to comply with New Jersey Division of Gaming Enforcement requirements.

The New Jersey sports betting market has been steadily growing since regulation as sportsbooks generated $6 billion in total bets transacted in 2020. The figure represents a jump of 31 percent from $4.5 billion in 2019.

Capitalizing on Booming US Esports scene

Grant Johnson, CEO of Esports Entertainment Group, underscored the impact of penetrating the largest sports betting market in the United States. The executive also stressed the importance of securing necessary licenses to launch its esports-focused wagering platform.

“Securing access to what is currently the largest market for sports betting in the US is very exciting and will provide a strong advantage as we look to expand into additional markets in the US moving forward. 

“We are ready to move quickly with our esports-focused wagering platform rollout once the DGE permits us to do so, which we expect in the near term,” Johnson stressed.

EEG applied for a gaming license in New Jersey back in May and is in the process of waiting for the approval of its Transactional Waiver. The issuance would be the go-ahead signal for the company to start accepting bets on Esports matches and fixtures. 

Related Deals

Aside from the debut of its New Jersey office, EEG salvaged a massive deal this September with a multi-year alliance with venture capital firm Game Fund Partners. The partnership aims to achieve inroads for “substantial growth and added economic firepower”.

Under the terms of the deal, EGG will become part of Game Fund Partners’ Venture Capital Arm. The crux of the joint venture centers around a proposed $300m game fund, which seeks to explore possible collaboration and investment vehicles to spur growth in the areas of gaming, data, blockchain, online gaming, and joint casino hotel investments.