Welcome to our dedicated page for EBET news (Ticker: EBET), a resource for investors and traders seeking the latest updates and insights on EBET stock.
EBET Inc. (NASDAQ:EBET) is a global leader in online casino and sportsbook operations, dedicated to providing top-notch i-gaming wagering products for bettors worldwide. The company focuses on delivering innovative gaming experiences that cater specifically to the Millennial and Gen-Z demographics.
EBET operates several renowned online brands including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, GenerationVIP, and Gogawi. These brands are active in over 15 countries and collectively boast over 1.4 million deposited customers. The company has received multiple prestigious awards, such as the Esport Product of the Year at the 2021 SiGMA Europe and the 2022 SiGMA Asia and SiGMA Americas Awards. Additionally, Karamba, one of EBET's brands, has been recognized for its innovation in Casino & Gaming Entertainment and named Online Casino of the Year at the 2022 SiGMA Americas Awards.
Recently, EBET has undertaken several strategic initiatives to maximize shareholder value. On July 26, 2023, the Board of Directors appointed a Strategic Alternatives Committee to explore various strategic options, including potential mergers, sales, or other transactions. Houlihan Lokey has been retained as the exclusive financial advisor for this process.
In a significant financial maneuver, EBET announced a 1-for-30 reverse stock split effective from October 2, 2023. This move reduced the number of outstanding shares from approximately 448.2 million to about 14.9 million, while maintaining the authorized shares at 500 million. This consolidation aims to enhance the per-share value and streamline the capital structure.
Furthermore, EBET has amended its $30,000,000 Term Loan and increased its Revolving Loan capacity from $2,000,000 to $4,000,000. The amendments also allow the company to defer over $339,000 of monthly cash interest payments through June 2025. However, despite these efforts, EBET's stock has been suspended from trading on the Nasdaq Capital Market as of October 13, 2023, and will now be quoted on the Pink Sheets platform.
For more details, visit EBET's official website.
EBET Inc. (Nasdaq: EBET) announced it will release its second quarter 2022 results on May 10, 2022, at 5:00 pm EDT. The company specializes in advanced wagering products and technology, targeting Millennials and Gen-Z customers. EBET has a growing intellectual property portfolio and operates several online brands with over 1.25 million customers across 15 countries. Recently recognized at the SiGMA Awards for innovation, EBET is positioned for future growth.
Esports Technologies, Inc. has officially rebranded as EBET, INC. effective May 5, 2022. This name change reflects the company's mission to deliver innovative wagering technology targeting the Millennial and Gen Z markets. EBET has acquired online sportsbook and casino brands, gaining over 1.25 million deposited customers across more than 15 countries. The rebranding includes a new logo and website, aiming to showcase EBET's commitment to esports and traditional sports. EBET is listed on Nasdaq under the symbol EBET.
Esports Technologies (Nasdaq: EBET) announced a software license and service agreement with Incentive Games to develop customized free-to-play games. These games will leverage esports titles like Counter Strike: Global Offensive and expand to others like Dota 2 and League of Legends. The collaboration aims to enhance customer acquisition and retention through engaging game mechanics, ultimately increasing player lifetime value. The deal marks a significant step for Esports Technologies to solidify its leadership in esports wagering.
Esports Technologies (Nasdaq: EBET) announced the launch of its new odds and modeling feed technology, expanding its esports betting offerings. The feed will be integrated with BtoBet and will cover various betting markets for popular esports titles like Dota 2, League of Legends, and Counter-Strike. COO Bart Barden emphasized the feed's potential to enhance the betting experience for users. The company is recognized for its innovative predictive gaming models and has recently been nominated for industry awards. Esports Technologies serves over 1.25 million customers across multiple online betting platforms.
Esports Technologies (Nasdaq: EBET) will participate in the 2022 Virtual Growth Conference, hosted by Maxim Group LLC and M-Vest, from March 28–30, 2022. CEO Aaron Speach will present during this event, aiming to update investors on the company's advancements in esports wagering products. The conference will include presentations from various sectors and interactive sessions with executives. Esports Technologies is recognized for its innovative offerings, catering to Millennials and Gen-Z, and operates several online brands with a substantial customer base globally.
Esports Technologies (Nasdaq: EBET) has been nominated for the Esport Product of the Year at the SiGMA Asia Awards, recognizing its global presence in the esports wagering market.
The awards ceremony is set for March 21 in Dubai. This nomination follows the company's recent 2021 Europe Gaming Awards win for the same category.
COO Bart Barden expressed pride in this recognition, emphasizing their team's commitment to innovation in esports wagering.
Esports Technologies, Inc. (Nasdaq: EBET) has been nominated for the 2022 CIPD Ireland HR Awards in the Talent Management category, recognizing excellence in workforce strategies. The awards ceremony will be held on March 25 at the Mansion House in Dublin. With a team of 80 employees globally, Esports Technologies fosters an employee-centric culture. The company focuses on innovative wagering products and has an international presence with over 1.25 million customers across its online platforms.
Esports Technologies, Inc. (Nasdaq: EBET) announced the filing of a new patent application related to quantum computing for modeling team compositions in Multiplayer Online Battle Arenas (MOBAs). This innovative method aims to significantly reduce computation time from days or years to mere seconds, providing a competitive edge in esports. The patent adds to EBET's growing portfolio of intellectual property, following previous applications for predictive gaming models. COO Bart Barden highlighted the potential benefits of this technology for esports team games.
Esports Technologies (Nasdaq: EBET) reported $7.1 million in revenue and a $2.5 million gross profit for Q1 2022, primarily due to December performance. The company's cash position improved to $11.8 million, an increase of $2.8 million year-over-year. The firm reaffirmed its revenue guidance of $70 million for fiscal 2022. Strategic acquisitions contributed to gaining 1.25 million deposited customers across Europe and Tier 1 markets. Ongoing investments in technology and market expansion aim to enhance Esports Technologies' competitive edge in esports wagering.
FAQ
What is the current stock price of EBET (EBET)?
What is the market cap of EBET (EBET)?
What does EBET Inc. do?
What are some of EBET's brands?
Has EBET won any awards?
What recent strategic steps has EBET taken?
Who is assisting EBET with its strategic review?
What are the details of EBET's recent reverse stock split?
What changes were made to EBET's loan agreements?
Where can I find more information about EBET?
What happened to EBET's Nasdaq listing?
What is EBET's focus demographic?
