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Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series Tournament

George Miller

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Allied Esports Partners with Esports Entertainment Group to Launch Inaugural VIE.gg CS:GO Legend Series Tournament
Reading Time: 4 minutes

 

Tournament Will Be Offered to Sports Bettors on the VIE.gg Platform

Allied Esports, a global esports entertainment company and a subsidiary of Allied Esports Entertainment, Inc., has signed a licensing and sponsorship agreement with Esports Entertainment Group, Inc., a licensed online gambling company with a focus on esports wagering and 18+ gaming, for the inaugural VIE.gg Counter-Strike: Global Offensive (“CS:GO”) Legend Series tournament beginning Monday, August 31, 2020.

The VIE.gg CS:GO Legend Series will feature 12 teams from multiple European countries competing online for €50,000 in total prize money. The 5v5 tournament, which will be offered to customers on the VIE.gg platform, will be produced by Allied Esports from its HyperX Esports Studio in Hamburg, Germany and broadcast live on Twitch.tv/AlliedEsports with a lineup of professional casters and analysts. Teams at Tier 2 or below that are interested in playing can apply online at AlliedEsports.gg/LegendSeries starting Wednesday, July 15. Invitations will be sent out to participating teams on Friday, July 17.

“We’re excited to partner with an industry leader, Allied Esports, as the title sponsor of their newest esports tournament,” said Grant Johnson, CEO of Esports Entertainment Group. “Title sponsorship places the VIE.gg brand front and center for teams, fans and influencers alike, further accelerating user adoption of the VIE.gg platform.”

Esports Entertainment Group offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at VIE.gg. The VIE.gg platform provides customers the ability to match bets against one another with Esports Entertainment Group taking a small commission on the winnings.

“We believe that esports tournaments should not just be fun for participants, but also have the ability to help sponsors achieve their business goals, and our knowhow and portfolio of esports brands, arenas, mobile trucks and studios uniquely meet that need in today’s ecosystem,” said Frank Ng, CEO of Allied Esports Entertainment. “The Legend Series has been one of our most successful original tournament brands and we are thrilled to work with Esports Entertainment Group and the VIE.gg platform to add a wagering component that will introduce Allied Esports to new consumers and elevate the brand even further.”

Created in 2017, Allied Esports’ original Legend Series tournament brand was designed to expand the competitive ecosystem and total prize pool for second and third tier teams. The VIE.gg CS:GO Legend Series will be Allied Esports’ sixth edition of the CS:GO Legend Series and the first to feature a licensing partner and title sponsor. Additional versions of the series have previously included Overwatch, League of Legends, FIFA, COD Blackout and Valorant.

Allied Esports’ two-week, high-intensity CS:GO Legend Series format includes 11 consecutive days of single matches where teams will accumulate points and prize money for each win. The top eight teams from the first round will advance to a best-of-three bracket played over the last three days of the tournament.

“We’re excited to play a role in providing a platform for smaller teams to compete for prize money,’’ commented Magnus Leppaniemi, VP of Marketing and Head of Esports at Esports Entertainment Group. “While the largest esports teams earned tens of millions of dollars in prize money last year, there are hundreds of smaller teams that get excluded from the flagship competitions. The VIE.gg CS:GO Legend Series is our first effort at working to fill this void, and we look forward to getting involved in more events like this moving forward.”

 

About Allied Esports

Named one of the World’s Most Innovative Companies by Fast Company, Allied Esports International, Inc. is at the forefront of esports entertainment with a global network of properties designed to serve as competition battlegrounds, community experience hubs and content production centers.

Through direct operation or membership in the Allied Esports Property Network, the world’s first esports affiliate program, Allied Esports’ facilities span North America, Europe, China and Australia, and include the world-renowned HyperX Esports Arena Las Vegas, a fleet of mobile arenas, the HyperX Esports Trucks, and the HyperX Esports Studio in Hamburg, Germany.

Allied Esports’ properties serve as the home to a number of online and offline proprietary productions and events, including Friday Frags and Saturday Night Speedway, as well as original partner programs like the Simon Cup.

For more information about Allied Esports, visit AlliedEsports.gg and follow @AlliedEsports. Allied Esports International, Inc. is a subsidiary of Allied Esports Entertainment, Inc.

About Allied Esports Entertainment

Allied Esports Entertainment, Inc. (Nasdaq: AESE) is a global leader in esports entertainment, providing innovative infrastructure, transformative live experiences, multiplatform content and interactive services to audiences worldwide through its strategic fusion of two powerful brands: Allied Esports and the World Poker Tour (WPT). For more information, visit AlliedEsportsEnt.com.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao, Kingdom of the Netherlands and is able to accept wagers from over 149 jurisdictions including Canada, Japan, Germany and South Africa. Esports Entertainment offers fantasy, pools, fixed odds and exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company maintains offices in Malta. For more information visit www.esportsentertainmentgroup.com

 

eSports

Enthusiast Gaming Announces Q2 2020 Financial Results

Niji Narayan

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Enthusiast Gaming Announces Q2 2020 Financial Results
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Enthusiast Gaming Holdings Inc. has announced its financial results for the second quarter of 2020. All financial information is presented in Canadian dollars unless otherwise indicated.

Q2 2020 total revenue was $7.0 million, compared to $7.1 million for the three months ended March 31, 2020. Q2 revenue exceeded management’s expectations, driven by the Company’s media division outperforming amidst the COVID-19 pandemic. Annualised revenue per viewer in Q2 2020 was $0.12 increasing from $0.10 in Q1 2020.

Q2 2020 gross margin was 46%, compared to 46% in Q1 2020 and 34% in Q4 2019. The increase in gross margin in the current year as compared to Q4 2019 is attributable to the growth of higher margin revenue streams including direct sales and subscriptions, which are expected to continue to grow. Viewer engagement increased 35% to 3.1 billion page views across the media platform, as compared to 2.3 billion page views during Q1 2020.

Net loss in Q2 2020 was $5.2 million and net loss per share was $0.07. Net loss includes $1.4 million of interest and accretion, $1.1 million of amortisation and depreciation, $0.3 million of share-based compensation and a deferred income tax recovery of $0.4 million. The Company ended Q2 2020 with a strong cash position of $8.4 million.

“I am pleased with our strong Q2 performance, even against the backdrop of a global pandemic which negatively affected advertising rates across the board. It was exciting to see our direct sales team emerge as a valuable contributor to both revenue and margin, as well as our Pocket Gamer events successfully move online. Our media revenue growth was further strengthened by a surge in subscriptions and an increase in ads served, and this momentum in our different revenue streams continues into Q3,” Adrian Montgomery, CEO of Enthusiast Gaming, said.

“Our Q2 results follow the transformational acquisition of Omnia Media announced last week. Acquiring Omnia will not only change the entire landscape of our business, but will also add immediate value both operationally and financially across every aspect of our platform, which will start to be reflected next quarter. The combination is highly complementary with our key priorities, and we look forward to working with Omnia’s experienced team as we integrate the businesses,” he added.

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eSports

Portuguese Esports Federation Becomes Member of ESIC

Niji Narayan

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Portuguese Esports Federation Becomes Member of ESIC
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The Portuguese Esports Federation has become a member of the Esports Integrity Commission (ESIC).

This agreement will guarantee the compliance of the Portuguese Esports Federation with ESIC’s Code of Ethics, as well as of all future competitions to be organised or licensed by the Portuguese Esports Federation with ESIC’s Anti-Corruption Code, Player Code of Conduct and Anti-Doping Code.

“This is yet another step that we are doing in order to fulfil our mission of developing the Portuguese Esports Ecosystem, in accordance with a proper sports spirit, educational and cultural values and principles of active citizenship,” Tiago Fernandes, President of Portuguese Esports Federation, said.

Tiago Fernandes added that, as the Portuguese Esports Federation is establishing a National Competitive Esports Calendar, in a multitude of different game titles, “this allows our country’s players, coaches, referees and clubs to be assured that they will be participating in competitions that are fair and transparent and where integrity and loyalty are omnipresent, as well as true sportsmanship. This will also reassure the confidence of our commercial partners in investing in said competitions.”

Ian Smith, Commissioner of ESIC, said, “It is such a pleasure to welcome the PESF into ESIC Membership. Their commitment to the development of a vibrant grass roots scene in Portugal with integrity at the heart of it is very encouraging. We look forward to working with the team to embed our Codes into their rules and regulations and supporting them with their education initiatives to ensure the next generation has all the tools it needs to succeed fairly and with sportsmanship.”

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eSports

Allied Esports Entertainment Reports Net Loss of $10.9M During Q2 2020

Niji Narayan

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Allied Esports Entertainment Reports Net Loss of $10.9M During Q2 2020
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Allied Esports Entertainment, a global esports entertainment company, has reported a net loss of $10.9m for the second quarter of 2020, after its revenue was hit by the novel coronavirus (Covid-19) shutdown of certain esports events.

The second-quarter struggles meant that revenue for the six months to 30 June totalled $10.6m, down 23.2% on $13.8m last year.

Total costs and expenses were up 16.3% to $23.5m, leaving it with an operating loss of $12.9, almost double the $6.6m loss it posted in 2019. After other costs, Allied Esports posted a comprehensive loss of $19.7m. In Q2, revenue fell 37.0% year-on-year to $4.6m.

Allied Esports said its in-person operations – live events – were hardest hit by Covid-19 in Q2. The in-person revenue dropped 78.3% from $3.2m to $699,327.

“Throughout the second quarter, we continued to operate in an extremely challenging environment arising from the ongoing Covid-19 pandemic,” chief executive David Ng said.

“The shelter-in-place orders that extended for the majority of the second quarter resulted in the temporary shut-down of the in-person pillar of our business activities, which negatively affected our second quarter financial performance.

“Given this reality, we quickly shifted our strategic focus to the multiplatform content and interactive services pillars in order to mitigate the impact of the pandemic on our business and continue to serve our loyal communities.”

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