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) will serve as a Platinum Sponsor at SiGMA Europe from November 15-19 in Malta, a major gaming expo expecting over 15,000 attendees. The company will showcase its proprietary technologies, brands, and product developments. Additionally, it will exclusively sponsor an esports tournament featuring well-known teams in Counter Strike: Global Offensive. A workshop on esports trends will also be conducted, addressing a market projected to reach $20.7 billion by 2027.
Esports Technologies, Inc. (Nasdaq: EBET) announced a meeting on August 2, 2021, between CEO Aaron Speach and Malta's Prime Minister Robert Abela to discuss the establishment of its European headquarters in Malta. This initiative is part of Esports Technologies' strategy to leverage Malta's favorable business environment, tech infrastructure, and educational resources, boosting international growth in the esports sector. Both leaders expressed optimism about Malta becoming a key hub for esports gaming, enhancing economic growth and job creation in the region.
Esports Technologies, a leader in esports wagering, has filed a provisional patent for a new artificial intelligence technology that generates real-time odds models for esports tournaments. This innovative system employs machine learning to create betting algorithms for various match types and betting markets, enhancing the wagering experience for esports enthusiasts. The filing complements their previous patent for live streaming wagering technology. COO Bart Barden highlighted the company's commitment to innovation and improving the esports betting landscape.
Esports Technologies, Inc. (Nasdaq: EBET) announced its Esports Games app has surpassed 100,000 downloads since its launch in May 2021. The free-to-play app allows players to win cash prizes by making real-time esports predictions and answering trivia questions. July alone saw a surge of 49,000 downloads. Available on the Google Play and Apple App stores in the US, UK, and Canada, the app features popular games like League of Legends and Dota 2. COO Bart Barden emphasized the app's momentum and the company's commitment to enhancing fan engagement.
Esports Technologies (NASDAQ: EBET) has joined the Esports Integrity Commission (ESIC) to combat match-fixing and corrupt betting in esports. Founded in 2016, ESIC is a non-profit organization comprising industry leaders dedicated to maintaining competition integrity. Recently, ESIC banned 35 players for betting-related infractions on ESEA. Bart Barden, COO of Esports Technologies, emphasized the importance of building trust in esports. This collaboration aims to strengthen stakeholder confidence and enhance the integrity of esports betting.
Esports Technologies, Inc. (Nasdaq: EBET) has appointed Michael Holm as its new Affiliate Director. With over 15 years in iGaming, Holm's role focuses on enhancing the affiliate platform and performance across diverse product offerings, including esports and sports betting. He has previously led successful affiliate programs for top brands. Mark Thorne, CMO, praised Holm's expertise, anticipating his contribution will bolster the company’s affiliate model during its expansion phase. The company continues to innovate in esports wagering technology, serving bettors globally.
Esports Technologies (NASDAQ: EBET) has formed a new quantitative analysis team to enhance its esports predictive gaming models and data feeds. Led by newly appointed Chief Technology Officer Jason Finch, the team consists of experts including applied mathematicians and machine learning engineers. This strategic initiative aims to develop advanced wagering products and partner with B2B clients to drive revenue. The company operates a licensed online platform, gogawi.com, offering real money betting on esports and professional sports worldwide.
Esports Technologies (NASDAQ: EBET) has been added to the Russell 3000 and Russell Microcap Indexes, effective June 28, 2021. This inclusion follows their listing on Nasdaq in April, signaling positive investor interest. Russell Indexes, managed by FTSE Russell, are crucial for investment managers, with approximately $10.6 trillion in assets benchmarked to them. CEO Aaron Speach highlights this recognition as validation of the company’s commitment to enhancing shareholder value through innovative esports wagering products.
Esports Technologies (NASDAQ: EBET) has filed a provisional patent application for its innovative technology that enhances the live betting experience for sports and esports. The patent covers integration with popular streaming platforms like Twitch, YouTube, and Facebook Gaming. CEO Aaron Speach highlighted that this technology focuses on an intuitive betting experience without leaving the streaming environment. As live streaming continues to grow, with 3.93 trillion hours watched in 2020, this technology aims to provide real-time odds and in-browser betting features.
Esports Technologies Inc. (NASDAQ: EBET) announced a strategic alliance with American SportZ Exchange (ASX) to enhance esports betting products. This partnership aims to deliver advanced data feeds for pre-play and in-play wagering, improving user engagement on ASX’s platform, which targets the U.S. market with 90 million potential users. The collaboration follows Esports Technologies' recent deal with Colossus Bets, aimed at enhancing cash-out experiences. COO Bart Barden emphasized the exciting potential for innovation in esports betting through this partnership.
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