Esports Entertainment Group Acquires Helix eSports LLC and ggCircuit LLC at $43M

Helix eSports LLC and ggCircuit LLC are the latest operating entities acquired by Esports Entertainment Group in its hunt to become a gambling powerhouse across the globe. Esports Entertainment Group is the only eSports gambling firm licensed on NASDAQ, including licenses in Malta, Ireland, Curacao, and the United Kingdom. Other entities picked up in the process to multiply the company’s revenue include LANduel and Helix’s Genji Analytics, which specialize in eSports data.

The deal is expected to close before the first quarter of 2021.

ggCircuit LLC

ggCircuit LLC is a B2B software provider that supports entities to manage physical esports spots. Currently, the company facilitates 1,378,917 players connected to 543 active centers. Active gaming platforms on ggCircuit LLC include 11,975 PCs and 2,205 consoles. The firm leverages a cloud-management system to provide competition platforms and combined wallet solutions.

ggCircuit’s CEO Zack Johnson hinted that his company will still maintain its title as a wholly-owned subsidiary by Esports Entertainment Group. There will be no critical changes in the leadership and employment structure, as the company plans to retain all of its 33 employees, scattered worldwide. However, he insisted that since the buyer was a publicly-traded company, he wasn’t at liberty to disclose all the proposals by the intent letter.

Some of the companies that ggCircuit partnered with before its takeover include Lenovo and Dell’s international brands. The company also had fruitful collaborations with the universities of North Carolina and Ohio State.

ggCircuit’s software management solution garnered more than 60million usage hours by 2 million unique players. The firm has thousands of common gaming screens across the country.

Helix eSports LLC

Helix eSports LLC has a reputation for partnering with reputable entities to cast their spotlight in the international arena. In May, it merged with Team Genji to promote fair competition and record optimization amongst its esteemed customers. Team Genji works directly with FIFA and NBA as an analytics firm.

Helix eSports is coming on board with LANduel and Helix’s Genji Analytics, its child entities. LANduel is a skill-based player-vs-player wagering platform. However, the same entity is still rumoured to be developing a pilot program with regional game publishers. Genji Analytics was established by William Collis to provide real-time esports analytics. The platform leverages machine learning tools, natural language processing, and computer vision to analyze and broadcast data.

The Future of Esports Entertainment Group

Esports Entertainment Group CEO Grant Johnson remains optimistic that acquiring the two companies will upscale their operation and possibly merge traditional sports with esports. Currently, the company’s league has about 35,000 enrolled players and sixty employees. The CEO is looking forward to doubling the firm’s labour force after the deal closes in this final quarter.

The biggest picture is the esports betting side. As more players register, more teams will likely emerge. Esports Entertainment Company is looking forward to running the largest eSports betting in future, as the niche is already big in North Carolina. More than 41 states in the USA also allow skilled-based betting.

Esports has gained popularity in the mainstream in recent months, which can be partially credited to COVID-19 as a weird blessing in disguise. Players can now live stream online or watch already played matches on various platforms like Twitch and Youtube.