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 that COO Bart Barden will speak at the Betting on Sports Europe conference from November 9–11, 2021 at Stamford Bridge, London. Barden will participate in the panel discussion titled 'Plotting the Path of Esports Betting' on November 11. The global esports wagering market is projected to exceed $20.7 billion by 2027. This event will gather 2,000 delegates, allowing Esports Technologies to showcase its latest innovations and connect with industry leaders like William Hill.
Esports Technologies, Inc. (Nasdaq: EBET) has been named a finalist in the 2021 Tempest Esports Business Awards for its innovative real-time odds modeling system, highlighting its commitment to enhancing esports wagering experiences. The awards ceremony is scheduled for October 19, 2021, at the HyperX Esports Arena in Las Vegas. The nomination showcases the company's advanced automated models that generate betting odds instantly, backed by pending patent applications from August 2021. The recognition emphasizes Esports Technologies' role in pioneering esports betting solutions.
Esports Technologies (Nasdaq: EBET) announced that CEO Aaron Speach will participate in a fireside chat at Needham & Company's 1st Annual Consumer Tech/E-Commerce Virtual Conference on November 22, 2021. This event offers investors insights into the company's latest developments, acquisition plans, and growth strategies, alongside other industry leaders like Draft Kings and Penn National. With a focus on emerging trends post-COVID-19, this forum aims to foster engaging discussions about the evolving esports wagering landscape.
Esports Technologies (Nasdaq: EBET) will open a new state-of-the-art office in Malta on November 15, 2021. This office will focus on European market operations, joining existing locations in Las Vegas and Dublin. The move aims to enhance the company's growth strategy within the growing European esports market, which has an audience of 92 million. Malta's favorable tech infrastructure and gaming environment make it an ideal base for expansion into key Western European markets.
Esports Technologies, Inc. (Nasdaq: EBET) has announced that Nolan Bushnell, a key figure in gaming, will be the keynote speaker at SiGMA Europe, scheduled for November 15–19 in Malta. The company will be the platinum partner for this significant gaming exhibition, where they will showcase their cutting-edge esports wagering technology and promote its importance within the iGaming sector. During the event, attendees can expect esports workshops and an exhibition tournament featuring notable Counter-Strike players, highlighting the growing market, projected to exceed $20.7 billion by 2027.
Esports Technologies, Inc. (Nasdaq: EBET) announced a definitive agreement to acquire Aspire Global's B2C business, a strategic move aimed at enhancing its esports wagering offerings. This acquisition boasts $1.8 billion in wagering and $73.9 million in revenue over the previous 12 months. The company has scheduled a conference call to discuss the acquisition details on October 4, 2021, at 4:00 PM Eastern. Esports Technologies plans to utilize this acquisition for cross-selling opportunities to expand its revenue and customer base in the esports sector.
Esports Technologies (Nasdaq: EBET) announced a conference call on October 4, 2021, at 4:00 PM Eastern to discuss its definitive agreement to acquire Aspire Global's B2C portfolio. This strategic acquisition aims to enhance Esports Technologies' product offerings and boost esports wagering revenue through cross-selling opportunities. The call will provide insights into the acquisition details and future plans for growth in the esports sector.
Esports Technologies (NASDAQ: EBET) announced a definitive agreement to acquire Aspire Global's B2C business for $75.9 million. The deal includes $58.3 million in cash, $11.7 million in a promissory note, and $5.9 million in common stock. Aspire's B2C business recorded $73.9 million in revenue and $1.8 billion in wagering over the past year. The acquisition aims to enhance Esports Technologies' portfolio and customer base, adding 1.25 million new customers. The transaction is expected to close by November 30, 2021.
Esports Technologies, a leader in esports wagering technology, has entered a strategic license agreement with Aspire Global to integrate its proprietary odds modeling and trading feed into Aspire's esports platform. This partnership enables Esports Technologies to leverage Aspire's extensive range of services while expanding its market presence. Aspire Global, known for its robust iGaming solutions, expressed excitement about the collaboration. Both companies aim to enhance esports betting offerings, positioning Esports Technologies as a competitive force in the esports wagering sector.
CDS has launched Nebula, a new SaaS solution enhancing data center operations with predictive intelligence on parts availability and delivery. Integrated into the Raytrix MVS platform, Nebula utilizes over 30 years of insights and processes 300 logs monthly to streamline supply chains for an extensive range of hardware. The platform aims to assist enterprises in managing modernization efforts across the data center lifecycle. Nebula is now actively supporting customers globally, facilitating effective service delivery and logistical operations.
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?