August 12, 2020

Esports Entertainment Group to acquire Flip Sports assets

Esports Entertainment Group to acquire Flip Sports assets

Esports Entertainment Group has signed a letter declaring its intent to acquire certain assets of Flip Sports. The latter is a dynamic mobile games studio focused on innovating how people enjoy and engage in live sport.

Terms of the agreement remain unknown, but Flip Sports’ staff and all intellectual property will all be under the operator’s control once the deal is finalized.

Flip Sports provides a multi-platform second-screen experience for fans watching live sports events.

“The Flip team are leaders in building iGaming platforms that take the player experience to new heights,” John Brackens, Esports Entertainment chief information officer, said.

“Their expertise will strengthen our efforts in esports and help us further create a best-in-class immersive experience for esports fans,” he added.

Meanwhile, Grant Johnson, Esports Entertainment chief executive, explained that the purchase will provide value to the operator because it leads them towards a period of “opportunity and rapid growth.”

“As the first US-based iGaming company to list on Nasdaq, we are in a great position to capitalize on the fragmented esports market and will continue to pursue acquisition opportunities,” Johnson said. “Flip is set to be the latest example of the success of our roll-up strategy,” he added.

The agreement follows Esports Entertainment’s completion of the acquisition for online betting and gaming operator Argyll Entertainment and its operating subsidiaries last month.

The operator appears to be pursuing more M&A activity, entering into a partnership with independent capital market adviser Akur Capital to help spot more deals.

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