Esports Entertainment Group (NASDAQ: GMBL) is a full-stack esports and online gaming-den company fueled by the growth of video-gaming and the ascendance of esports with new generations.
The GMBL mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. GMBL and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, GMBL has influence over the full spectrum of esports and gaming at all levels. GMBL maintains offices in New Jersey, the UK, and Malta.
Some key points about GMBL :
- Growth-Oriented Esports and Online International Gaming-den Company.
- Cash Dividends Declared on Preferred Stock for April, May, and June.
- Registered players Across New Jersey Can now pledge on Approved Professional eSports Events.
- Hosted the First US Skill-Based pledging event at Hard Rock in Atlantic City.
- Industry Veteran Damian Mathews has been appointed as Chief Financial Officer.
- Plans to Install OMEGA at GAMMAX Locations in the Netherlands.
- Strong Financial Results Reported for the Quarter Ended Dec. 31, 2021.
GMBL Announces Preferred Stock Dividend -
On April 5th GMBL announced that its Board of Directors has declared monthly cash dividends for its 10.0% Series A Cumulative Redeemable Convertible Preferred Stock ("Series A Preferred Stock"), for April, May and June 2022.
GMBL Completes 'Soft Play' Phase Ahead of Full Launch of online gaming operations in New Jersey -
On April 4th GMBL announced that it has successfully completed the 'soft play' phase of New Jersey's Division of Gaming Enforcement regulatory process in the state. The GMBL VIE.gg esports online gaming platform will allow registered gamers across the state of New Jersey to play in approved professional esports events.
GMBL is the first operator to be granted the right to launch full esports gaming operations in the state of New Jersey. The GMBL VIE.gg platform allows players across the state of New Jersey, the 11th most populous U.S. state, to play on their favorite esports teams in real-time as part of a seamless and immersive experience. Players are able to leverage their esports prowess across games such as Call of DutyT, OverwatchT, CS:GOT, League of LegendsT and DOTA 2T.
GMBL Hosts First US Skill-Based pledging Event at Hard Rock Hotel & Casino Atlantic City -
On March 22nd GMBL announced its LANDuel launch event, held at the Hard Rock Hotel & Casino Atlantic City on March 19-20, which drew more than 290 registrants for the first sanctioned skill-based pledging event in the U.S.
More than 16,000 live viewers watched professional competitors DubDot, Joke, and OneGreatUser play and stream from the GMBL event. In addition, over 100 on-site spectators including representatives from multiple casinos, resorts, and professional sports teams attended the tournament.
The event was the debut of the GMBL LANDuel platform and will be the springboard for more esports chance based events and permanent installations at Hard Rock Atlantic City.
"We are delighted to announce this first-of-its-kind tournament, held at one of the top global hotel and casino venues, was a success," said Grant Johnson, CEO of GMBL. "The strong interest in the event by participants and spectators showcases what we already knew about this industry: esports players are excited for the opportunity to participate in peer-to-peer pleading on a tournament level."
The tournament was the first esports skill-based pleading event approved by the New Jersey Division of Gaming Enforcement where participants were permitted to pledge on themselves in each round of the event. Throughout the tournament, players were able to play their own matches as they tried to make their way to the finals.
Competitive Madden player Jaybird received the first-place prize of $3,600.
"I am honored to have won and be the first LANDuel champion. The entire tournament ran very well, and the team at GMBL took care of the players, which means a lot to me," Jaybird said. "Instant payouts aren't commonplace in large-scale tournaments, so this is another thing they knocked out of the park. I'm excited to take part in future tournaments and defend my title as LANDuel Champion."
The event space at Hard Rock Atlantic City also featured a dedicated set of PCs for non-tournament participants to compete inside matches on LANDuel. This gave eligible tournament spectators and casino guests the ability to side-pledge in their own matches outside of the tournament.
GMBL management expects year over year net revenue growth to be in a range of 317% to 347%, resulting in net revenue of $70 to $75 million in fiscal 2022. The updated guidance range contemplates growth driven primarily by the platform-building and strategic diversification acquisitions completed in calendar 2021.
For more information on Esports Entertainment Group, Inc. (GMBL) visit www.esportsentertainmentgroup.com.
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks
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