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Esports Entertainment Group Provides Update on ggCircuit Acquisition and its South Bend Century Center Esports Arena Project

Written by Customer Service on . Posted in Mergers And Acquisitions.

NEWARK, N.J., Nov. 05, 2020 (GLOBE NEWSWIRE) — Esports Entertainment Group, Inc. (NasdaqCM: GMBL, GMBLW) (or the “Company”), an online esports tournament and gaming company, today announced ggCircuit LLC (“ggCircuit”) is expected to complete the buildout of the Century Center Esports Arena in South Bend, Indiana by mid-December 2020.
The Company entered into an agreement in October 2020 to acquire ggCircuit and Helix eSports LLC (“Helix”) in a deal valued at approximately $43 million.The Century Center Esports Arena will serve as a destination for esports and gaming enthusiasts in the South Bend metro area. Located in the city’s convention center, visitors will be able to participate in live events and tournaments, as well as spectate. The semi-permanent installation will create a unique environment for esports events as well as provide a location for attendees of other Century Center events to participate in gaming activities.   ggCircuit won the mid six-figure contract in a competitive public bidding process that concluded in late September.Jeff Jarnecke, Executive Director at the City of South Bend, Indiana, shared, “The city has recognized that esports is a growing community and we look forward to partnering with ggCircuit and Esports Entertainment Group to bring this facility online to engage with esports enthusiasts from around the world during their visit to South Bend.”ggCircuit is leveraging its specialized professional services team to coordinate purchasing, installation, and final design modifications, as well as deploying ggLeap, ggRock, and integrating the ggCircuit operation system into all facets of the player and administrative experience.“The Century Center project is just one example of the many exciting projects we have underway,” commented Michael Winger, Director of Professional Services at ggCircuit. “The rapid growth in esports, and the synergies from our acquisition by Esports Entertainment Group, should allow us to significantly accelerate our revenue growth.”“ggCircuit has built a great business that is a strong complement to our Three Pillar Strategy,” stated Grant Johnson, CEO of Esports Entertainment Group. “We look forward to completing the acquisitions of ggCircuit, Helix, and other exciting, high-growth businesses in the coming months and quarters as we continue to execute on our vision of building the leading global brand in esports.”ggCircuit is a B2B software company that provides cloud-based management for LAN centers, a tournament platform, and integrated wallet/point-of-sale solutions for enterprise customers. ggCircuit has over 1,000 connected locations and has worked with enterprises such as GameStop, Dell, Best Buy and Lenovo as well as universities such as Ohio State, Syracuse and North Carolina. Their ggLeap product has over 60 million hours of usage by over two million unique gamers on tens of thousands of public gaming screens inside centers worldwide.About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online company with a specific focus on esports and gaming. Esports Entertainment offers fantasy and pools on various esports events in a licensed, regulated and secure platform at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multiplayer mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in the UK, Ireland, Malta and Curacao. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.Contact:U.S. Investor Relations 
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.comMedia & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

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