New Approach to Licensing Prompts Rapid Growth of the Online Betting Market
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NEW YORK, March 4, 2021 /PRNewswire/ Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proven to be a pandemic proof segment. An increasing number of online events with large prize pools are now expected to create new opportunities for players and betters alike. As for sports betting, the segment has also benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicates that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley rep
Mar 04, 2021 at 02:16 PM Copied!
Newark, New Jersey, March 4, 2021 (GLOBE NEWSWIRE) – Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the Company ) has announced a multiyear sponsorship with Kraft Sports and Entertainment to be the official esports tournament provider sponsor of the New England Patriots and the New England Revolution. As part of the agreement, the Company will use Patriots and Revolution marks to promote their bi-annual esports tournaments on its Esports Gaming League ( EGL ) platform. We are excited to continue to build momentum in our tournament segment, said Grant Johnson, CEO of Esports Entertainment Group. The Patriots and Revolution have an enormous and loyal fan base. Our tournament platform will now sponsor two teams with large and passionate fans bases. Our robust tournament platform helps the Patriots and Revolution strengthen connections with their fans, providing new avenues for engagement.
(Rewrites throughout, adds comments from interview with Left)
Feb 25 (Reuters) - The battle for videogame retailer GameStop’s future took a new twist on Thursday when a prominent investor suggested that the company, which has been at the center of a recent stock trading frenzy, should buy online gambling firm Esports Entertainment Group.
Short-seller Citron Research said in a tweet that such a move would be obvious and easy to justify (GameStop) stock price. (bit.ly/2MocuDQ)
Citron Research founder Andrew Left, who has spent two decades investing and producing stock market research, told Reuters such a tie-up would be “a major pivot” that would put GameStop on a solid financial footing and introduce the brand to millions of new customers.
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(Reuters) - The battle for videogame retailer GameStop’s future took a new twist on Thursday when a prominent investor suggested that the company, which has been at the center of a recent stock trading frenzy, should buy online gambling firm Esports Entertainment Group.
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Short-seller Citron Research said in a tweet that such a move would be obvious and easy to justify (GameStop) stock price. (bit.ly/2MocuDQ)
Citron Research founder Andrew Left, who has spent two decades investing and producing stock market research, told Reuters such a tie-up would be “a major pivot” that would put GameStop on a solid financial footing and introduce the brand to millions of new customers.
GameStop shares go on another rollercoaster ride
By Aaron Saldanha, Thyagaraju Adinarayan and David Randall
February 26, 2021 5.24am
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GameStop shares shot higher on Thursday (US time) after doubling in the previous session, triggering a series of NYSE trading halts and leading a surprise resurgence of so-called “stonks,” as passionate retail investors have dubbed their favourites on various online forums.
GameStop shares hit $US160 at the open before being halted after several minutes of trading and fell to around $US129 before the second halt. The stock resumed trading around 10am ET and soared as high as $184.68 before tumbling late in the day. It closed 19 per cent higher at $US108.73.