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.
Esports Technologies (Nasdaq: EBET) announced acquiring a UK gaming license via a $75.9 million deal for Aspire Global's B2C assets. This acquisition adds 1.25 million deposited customers from popular brands like Karamba and Hopa, which together generated $1.86 billion in wagers and $183 million in cash deposits over the last year. The UK is a lucrative gaming market, with online gaming accounting for around 40% of the estimated $19.2 billion gaming revenue. COO Bart Barden emphasized the strategic importance of this license for expanding their esports products in the UK.
Esports Technologies (Nasdaq: EBET) announced the completion of its acquisition of Aspire Global's B2C business, increasing its market access and capabilities in esports wagering. The conference call held on December 1, 2021, at 4:30 PM Eastern, detailed the acquisition's strategic importance, which includes managing $1.86 billion in wagering and $183 million in cash deposits. This acquisition is expected to enhance Esports Technologies' revenue streams, customer base, and player transaction volume through cross-selling opportunities in esports betting.
Esports Technologies has successfully acquired Aspire Global's B2C business for $75.9 million. This acquisition includes popular online casino and sportsbook brands such as Karamba and Hopa, significantly expanding Esports Technologies' gaming footprint. The deal grants access to premier gaming licenses in markets like the UK and Germany. In the past year, Aspire Global's B2C segment reported revenues of $78.3 million and over $1.86 billion in wagers. CEO Aaron Speach emphasizes the strategic importance of this acquisition to enhance esports wagering opportunities.
Esports Technologies (Nasdaq: EBET) has launched its affiliate platform, Eaffiliates.com, aimed at enhancing esports wagering. The platform offers customized commission plans based on confirmed deposits and generated revenue. Key features include industry-leading odds supported by quantitative analytics across 140 jurisdictions. The initiative is designed to engage players through promotions and collaborations with cultural icons like Jordan Clarkson. This launch is expected to optimize revenue generation for affiliates while enhancing Esports Technologies' market presence.
Esports Technologies (Nasdaq: EBET) announced participation at the SiGMA Europe conference from November 15–19 in Malta. CEO Aaron Speach, COO Bart Barden, CMO Mark Thorne, and strategic advisor Nolan Bushnell will speak on various topics related to esports. The company is a Platinum Sponsor and will showcase its proprietary technologies. The esports wagering market is projected to exceed $20.7 billion by 2027. Additionally, Esports Technologies will host the inaugural SiGMA Esports Technologies Cup featuring a Counter-Strike tournament.
Esports Technologies (Nasdaq: EBET) announced the filing of a new patent for a modeling system aimed at enhancing esports wagering in multiplayer battle games. This system utilizes a modified statistical distribution to improve the accuracy of gaming odds, potentially increasing engagement among esports bettors. This patent adds to the company's growing portfolio of intellectual property, following earlier applications related to AI-driven odds modeling and proprietary live streaming technology. COO Bart Barden emphasized the importance of data analytics for competitive advantage.
Esports Technologies is set to host a live Counter Strike: Global Offensive tournament at SiGMA Europe, taking place from November 16-18 at the Malta Fairs & Conventions Centre. Eight teams, including Astralis Talent and SAW Youngsters, will compete for a prize pool of $15,000. A wildcard team led by esports legend HeatoN will also participate. Closed online qualifiers are scheduled from November 3-6. Additionally, a workshop on the future of esports will be hosted at the event.
Esports Technologies, Inc. (Nasdaq: EBET) announced the filing of a new patent application for an esports betting exchange system designed to enhance liquidity and pricing for operators and high-volume bettors. This innovative model will allow larger bets without affecting market prices, improving the overall betting experience. The patent application adds to the company's existing portfolio, which includes previous filings for AI-based odds modeling technology and live streaming wagering technology, signaling continued advancement in esports wagering.
Esports Technologies, Inc. (Nasdaq: EBET) has been nominated as a finalist for the Esport Product of the Year award at the 2021 Europe Gaming Awards. The company's innovative products include a patent-pending real-time odds modeling system and live streaming wagering technology. Their Esports Games app has surpassed 100,000 downloads since its launch in May 2021. The awards ceremony will take place on November 15, 2021, at the Hilton Malta Convention Centre, recognizing notable achievements in the gaming industry.
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