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Esports Entertainment Group Announces Leadership Changes and Business Update

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Esports Entertainment Group Announces Leadership Changes and Business Update
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Esports Entertainment Group, Inc. announced the departure of Grant Johnson from his position as Chairman and Chief Executive Officer, effective December 3, 2022. The Board of Directors has identified several candidates to be the Company’s next CEO, and these candidates are currently going through the evaluation process. The Company has identified a preferred candidate for interim/acting CEO, and we will make a formal announcement naming this individual in the coming days pending a formal approval by the Nominating and Corporate Governance Committee. The Company has also announced Jan Jones Blackhurst as Chair of the Board of Directors.

“Grant recognized the value of esports and online gambling and founded EEG on that basis. On behalf of the Board, we wish him well,” said Ms. Jones Blackhurst. “The Company is looking forward to bringing in new leadership to work with Board to realize the full potential of our acquired esports businesses.”

Sale and Restructuring in the iGaming Business

The Company has made significant progress in recent months reducing costs and considering strategic options for iGaming assets that do not contribute to profits and cash flow. The progress includes:

  • Sale of the Company’s online casino business in Spain. The sale of the online casino business in Spain is expected to close on December 12, 2022. The proceeds from the sale, net of commissions, will be used primarily to pay down the principal on the Senior Convertible Note.
  • Closing of the Argyll iGaming operations in the United Kingdom and Ireland on December 7, 2022, due to high costs to operate in these markets and an inability to generate profits.
  • Initiation of a process to evaluate the strategic options for the iGaming business, including exploring a sale of iGaming assets due to increasing regulatory burdens and competition. Our new CEO will be tasked with assessing the value of the iGaming assets and determining next steps.

Other Key Announcements

The Company continues to execute on its plan to be publicly listed on Nasdaq, while restructuring its debt and capitalizing on its esports assets:

  • The Company announced that it obtained approval for continued listing on the Nasdaq. The Company’s continued listing on Nasdaq is subject to evidencing compliance with Nasdaq requirements by March 31, 2023.
  • The Company is in discussions with its debt holder to restructure its payment obligations, including but not limited to eliminating the derivative liability on its consolidated balance and addressing the Company’s default status under the debt. The Company is optimistic that an agreement can be reached to the benefit of both parties in the near term.
  • The Company recently received a non-binding letter of intent from a third party that offered to merge its assets, including intellectual property, with that of the Company. The combined company would focus on growing esports revenues. The proposal is currently under consideration by the Company.

eSports

IESF Kicks off Bidding Process for 2025 and 2026 Events

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The International Esports Federation (IESF) has officially launched the bidding process for the next two editions of the World Esports Championship and Regional Qualifiers. Cities interested in hosting IESF’s flagship event can learn more about the bidding process on the IESF Events Bidding Process page.

WEC, a long-standing tradition of competitions watched across the world, creates a direct opportunity for the host to link its city brand to the IESF Realm, multiple game titles, and some of the world’s best athletes.

IESF remains open to discussions with any cities, regions, or countries worldwide that are interested in hosting the World Esports Championship or Regional Qualifiers. We welcome inquiries from all potential hosts to explore the opportunities and benefits of bringing these premier esports events to their locations.

IESF General Secretary Boban Totovski said: “After Bali, Iasi, and Riyadh this year, we are all looking forward to our next host for the 17th World Esports Championship. We already have many cities waiting for the process to start bidding and we are all very excited to start the negotiations and discover where will the IESF flag go on the 19th of November in Riyadh, on the closing ceremony”

IESF assesses potential hosts based on several criteria, including how well they align with regional and national development plans, as well as the long-term strategic goals of the IESF vision and mission. The host city is expected to meet all requirements set by IESF. The final selection of the host city is made by a vote from the IESF Board.

The 2023 World Esports Championship in Iași, Romania, was a unique experience, attracting over 100,000 attendees and amassing an impressive 35 million viewers across all platforms. This year, the championship moves to Riyadh, Saudi Arabia, promising to be the biggest event yet with a record 130 nations and over 600 players competing, solidifying Riyadh as this year’s Esports capital.

Which city will rise to become the next epicenter of esports excitement?

 

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eSports

Skyesports Championship 2024: Aurora Gaming and 3DMAX Become First Teams to Advance to the Playoffs

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The Skyesports Championship 2024, a $300,000 international Counter-Strike 2 esports tournament, is taking place at the Taj Lands End, Mumbai from July 24 to 28. As the Group Stage nears its conclusion, two teams have advanced to the prestigious Playoffs, where they will battle for glory and a shot at the lion’s share of the prize pool.

Serbia’s Aurora Gaming and France’s 3DMAX Vie for Glory: First Teams to Reach the Playoffs

Aurora Gaming and 3DMAX have earned this accolade with flawless records so far in the Group Stage.

The 11 participating teams, which include prominent esports organizations from Mongolia, France, Turkey, India, and Russia, have been split into two groups: A and B.

In Group A, Aurora has secured their spot in the Playoffs after convincing victories against Parivsion, ENCE, and True Rippers, standing first in their group with a 3-0 record. With their advancement to the next stage, Aurora is eyeing a consecutive third trophy in Skyesports’ IPs, having previously won the $350,000 Skyesports Masters 2024 and the Skyesports Grand Slam 2024 in Pune, India.

All eyes are still on Group A as teams like The Mongolz and ENCE have to battle it out on Day 3 to make it to the Playoffs.

In Group B, 3DMAX has triumphed over Amkal, DMS, and Revenant Esports, securing a 3-0 record at the top of the group.

The action continues in the Skyesports Championship on Day 3, as the final day of the Group Stage will decide who will join 3DMAX and Aurora Gaming in the Playoffs. Fans can catch all the action live on the Skyesports YouTube and Twitch channels.

Unlike the Group Stage, the Playoffs will take place on the main stage at the prestigious 5-star hotel, the Taj Lands End in Mumbai, India.

Group A Standings

Group B Standings

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eSports

THE DOTA 2 VIRTUAL HALL OF FAME: GG.BET AND DOT ESPORTS PRESENT 50 WORLD RECORDS

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Dot Esports, the leading esports news outlet, and betting brand GG.BET have created a virtual hall of fame to celebrate 50 Dota 2 World Records. Check it out to discover the stories behind the most impressive feats in the game’s competitive history and watch videos of when they happened.

The Dot Esports team have painstakingly selected and presented Dota 2 records in 5 categories: players, teams, tournaments, content creators and talent. You can find a list of the extraordinary individuals and organizations in each one, as well as dive into the events that have made Dota 2 a Tier-1 esports discipline on the world stage.

GG.BET press office:  “Although Dota 2 was released over 11 years ago, it continues to rank among the top games in the esports community. As we wait for the biggest tournament of the year, The International 13, to kick off, we’ve decided to look back and reflect on the most remarkable milestones throughout the competitive history of Dota 2. Did you know that the fastest time a match was won was in less than 8 minutes? Or that there’s a team that’s played 2813 professional matches? The experts at Dot Esports will tell you all about this and much more in our joint project. We’re delighted to support the creation of such insightful content.”

Jody Rones, CRO at Dot Esports:  “From its humble beginning as a fan made mod to one of the largest games in the world, DotEsports is thrilled to partner with GG.BET to shine a light on DOTA and its community as it passes its 11 year mark. From the content creators, to the team, players, tournament organizers, shout casters and more, they’re a key part of what makes this esport great, and we couldn’t be more thrilled to give them the recognition they deserve with the launch of the collaborative DOTA World Records.”

50 Dota 2 World Records is already available on the Dot Esports website in English and Ukrainian.

Before the end of the Counter-Strike: Global Offensive era and the transition to CS2, Dot Esports put a spotlight on 50 CS:GO World Records in collaboration with GG.BET. This project got a great reaction not just from the esports community, but from the players and teams themselves.

 

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