Esports Technologies Inc has completed its deal to acquire Aspire Global’s B2C assets for $76 million (€68m).
The transformative acquisition will see Esports Technologies significantly expand its igaming portfolio to include the online casino and sportsbook brands of Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP.
In addition, Esports Technologies will advance its European market profile by securing online gambling licences for the regulated jurisdictions of the UK, Germany, Ireland, Malta and Denmark.
An enlarged Esports Technologies will now operate a portfolio of assets generating “$1.86 billion in annual wagers and $183 million in cash deposits as revenue grows 43% in the most recent 12-month period with 1.25 million active customers”.
Updating investors, Esports Technologies outlined plans to leverage its new B2C portfolio across multiple markets to cross-sell esports wagering opportunities, a discipline in which the Nasdaq firm seeks to become the industry’s outright leader.
Aaron Speach, CEO, Esports Technologies, said: “Acquiring Aspire Global’s portfolio of innovative B2C brands, access to new markets, and its 1.25 million deposited customers is a strategic leap in our journey to become a world leader in esports wagering. We look forward to our partnership with Aspire as we continue to scale.”
Following its divestment, Aspire Global will serve as the back-end provider for the acquired B2C brands, ensuring operational continuity and maintaining Esports Technologies wagering products on its platform.
Tsachi Maimon, CEO of Aspire Global, said: “Esports Technologies has rapidly established itself as one of the foremost innovators in esports wagering. Acquiring the world-class B2C portfolio we’ve built will further expand their reach in this skyrocketing global market.”