eSports
Esports Entertainment Group Forms New Jersey Subsidiary to Pursue Licensing Strategy in United States. Receives Additional $1.86 Million From Exercise of Warrants

Esports Entertainment Group, Inc., a licensed online gambling company with a focus on esports wagering and 18+ gaming, is pleased to announce the formation of a new wholly owned subsidiary, “GMBL New Jersey Inc.â€, for the express purpose of commencing its strategy to pursue gambling licenses throughout the United States that will further the Company’s esports gambling market. The Company expects to make its first such application with the State of New Jersey in the near future and will provide updates for each anticipated application as they are submitted in each available jurisdiction.
The Company’s US operations will be based in New Jersey, where the Company expects to establish facilities and operating personnel.
COMPANY RECEIVES ADDITIONAL $1.9 MILLION FROM WARRANT EXERCISES
Investors participating in the Esports Entertainment Group’s public offering of securities which was consummated on April 14, 2020 (the “April Offeringâ€),  exercised a total of 439,844 warrants at a price of $4.25 per share for gross proceeds of approximately $1,860,000 as of May 22, 2020.
Combined with the Company’s announcement on May 15th in which, the underwriters of the April Offering partially exercised and closed on their over-allotment option and purchased an additional 209,400 shares of common stock from the Company for gross proceeds of $885,762, the Company has received  an aggregate of approximately $2,750,000 to date in the month of May  significantly bolstering its financial strength and resources necessary to execute its business plan.
“Today’s announcement marks yet another significant milestone and provides the market with even greater insight as to our growth strategy,†said Grant Johnson, CEO of Esports Entertainment Group. “The US market represents a very big opportunity for us and thanks to the continued support of our valued shareholders, we intend to aggressively pursue it in 2020 and beyond.”
-
Asia7 days ago
Parimatch Hosts Rooftop Meet & Greet with Sunil Narine
-
Latest News7 days ago
John Wright and Darrell Helyar Appointed to Board of Trustees of BetBlocker
-
Asia5 days ago
Jetapult-backed UMX Studios launches DriftX, a mobile car racing game
-
Asia6 days ago
FOMO7 Expands Platform with 46 New Indian Lottery Games
-
Industry News7 days ago
ZEAL Network CEO Helmut Becker Will Not Extend His Contract Beyond January 2026
-
Latest News7 days ago
Salsa Technology brings FORMULA-BET to BiS SiGMA Americas and reinforces its Brazilian essence
-
Latest News7 days ago
Danes’ Spending on Gambling Increased in February
-
Cryptocurrency5 days ago
Slotland Entertainment Rolls out Dazzling New Slot, 8 Crystals, Across Multiple Brands with new Cryptocurrency Integration