ESPORTS ENTERTAINMENT GROUP ACQUIRES LUCKY DINO ASSETS FOR $30M

Esports Entertainment Group (EEG) has completed the $30M USD acquisition of the business assets of Lucky Dino Gaming Limited. 

The acquisition was carried out via EEG’s MGA-licensed subsidiary, Esports Entertainment (Malta) Limited, and used funds raised in EEG’s recent equity offering.

Lucky Dino’s acquisition gives EEG access to the operator’s proprietary technology stack, including payment servers, affiliate marketing software, and CRM system, along with around 25K monthly active casino players. 

MGA-licensed Lucky Dino reported $21.5M in revenue and EBITDA of $4M for FY20. 

Commenting on the development, Esports Entertainment Group CEO, Grant Johnson, said: “Over the past five years, Lucky Dino has evolved from a single brand white-label casino operator into a multi-brand, class-leading casino operator and technology business.

“In addition to further strengthening our tech stack, Lucky Dino’s assets will give us a substantial foothold in multiple new jurisdictions across Europe, particularly in Scandinavia where esports are extremely popular, and with Lucky Dino’s 25k monthly active casino players we will have tremendous cross-selling opportunities with our SportNation and VIE.bet betting platforms.”

Grant also confirmed EEG would be looking to launch Lucky Dino’s casino offering in the United States, alongside its VIE.bet esports offering, in the future.

AYO.NEWS says:

Well, EEG certainly didn’t lose any time in spending the new capital it raised in February!

The changes we are now seeing in the online gaming and betting industry are profound. Just a few years ago, we were used to seeing traditional iGaming and sports betting operators adding esports offerings to their line-ups. These days we are increasingly seeing esports-first operators adding traditional sports betting and casino products to their offerings. 

Considering that the esports-first operators clearly have the advantage with the crucial younger markets – on every level, but especially marketing and engagement – while traditional online gambling operators largely rely on tired, recycled, formulaic products and marketing, and on ever-aging customers, its seems obvious who’s going to win in the long term. 

Staying with esports-first operators, earlier today we reported that Canada-based Rivalry has completed a $20M funding round.