- EEG, the company behind esports bookmakers and gaming competitions, has completed the transaction acquiring Bethard
- Bethard will give EEG access to new markets in Spain and Sweden
- EEG is confident with its growth strategy, which has secured its access to new markets
The Esports Entertainment Group has completed the acquisition of Bethard, gaining access to two new exciting markets that are known for their affinity for esports.
Bethard Paves the Way for EEG's Entry in Spain and Sweden
Esports Entertainment Group (EEG) continues to grow with the company completing the acquisition of Bethard, a sports betting brand from its parent company, Gameday Group.
EEG has agreed to a revenue-sharing and cash transaction model to complete the purchase, with the company paying 12% of the gaming revenue generated through Bethard back to Gameday Group. The total worth of the deal is priced at $27 million, as previously reported by Esports Grizzly.
Bethard generated around $31 million in 2020 alone, and EEG is paying just shy of $19 million to complete the cash commitment. Thanks to this acquisition, though, EEG can expand into both Sweden, and Spain, two crucial, pivotal markets where esports is booming, and the opportunity to advertise esports betting products seem good.
Commenting on this partnership, Esports Entertainment GROUP CEO Grant Johnson welcomed the opportunity and argued it was another great development for the company, which will be able to increase its revenue and available market access as a result of the deal.
“We will gain two new gaming licenses from this transaction, including one in the strategically important Swedish market. With these additions, we'll have a total of 6 tier one licenses globally,” Johnson added.
EEG had been busy in 2020. The company secured tournament rights for the NFL franchise, the New England Patriots. EEG is also involved with esports betting through Vie. bet, a website committed to competitive gaming betting and gambling.