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 the launch of its esports wagering platform, Gogawi, in Brazil. This platform allows real-time betting on major esports tournaments, reflecting the country's growing esports fan base. Brazil, a leader in Latin America's gaming market, is projected to reach $1.17 billion in esports revenue by 2023. Gogawi aims to enhance user engagement with the introduction of faster payment services. CEO Aaron Speach emphasized the platform's potential in tapping into Brazil's vast esports popularity, leveraging the country’s trend towards regulating igaming.
Esports Technologies, Inc. (Nasdaq: EBET) has appointed Mark Thorne as its new Chief Marketing Officer. Thorne brings nearly 20 years of experience from roles at Betfair, GVC, and others. He will focus on enhancing the company's brand, audience, and revenue, especially in new market entries. Thorne aims to establish a team in Malta to support European expansion. CEO Aaron Speach commended Thorne's industry insight and strategic vision. The company has made notable strides post-IPO, including launching the ESG app and forming strategic partnerships.
Esports Technologies (Nasdaq: EBET) has launched its new app, Espo, available on both the Apple App Store and Google Play Store. This app offers tournament prediction and trivia games for esports enthusiasts, reaching over one billion active iPhone users. Players can compete in trivia contests and predict live esports match outcomes for prizes. Developed in collaboration with Splash Tech, the app aims to enhance fan engagement in esports events. COO Bart Barden stated the app recreates tournament experiences for fans watching from home.
Esports Technologies, Inc. (Nasdaq: EBET) has launched its new app, Esports Games, on the Google Play store in the US, UK, and Canada. The app features tournament prediction and trivia games, allowing users to engage and compete globally. Players can participate for free and predict esports events, like team victories and match outcomes, with opportunities to win prizes. Developed in collaboration with Splash Tech, the app aims to enhance fan interaction within the esports community. CEO of Esports Technologies emphasizes empowering fans to showcase their knowledge through this platform.
Esports Technologies (Nasdaq: EBET) has formed an exclusive alliance with Colossus Bets, granting access to Colossus' extensive cash-out patent portfolio for esports applications. This agreement aims to enhance the cash-out user experience, incorporating features like leg-by-leg cash-out options in esports betting. The partnership aligns with Esports Technologies' strategy to advance its offerings and expand its North American presence. Key patents involved include U.S. Patent No. 8,602,884 and several others across various jurisdictions, reinforcing Esports Technologies' position in the esports wagering market.
Esports Technologies (Nasdaq: EBET) has partnered with NBA star Jordan Clarkson as a brand ambassador to enhance brand visibility across digital channels. Clarkson, a popular player known for his impressive performance and international following, aims to leverage his fan base to promote Esports Technologies. CEO Aaron Speach expressed confidence that this collaboration will significantly boost their brand globally. Esports Technologies specializes in innovative electronic sports wagering products and operates a licensed online gambling platform, gogawi.com, for esports betting.
Esports Technologies (Nasdaq: EBET) has announced the addition of Rocket League to its international wagering platform, Gogawi.com. This expansion enhances the platform's offerings, which already include popular esports titles such as Counter-Strike: GO and League of Legends, as well as traditional sports betting options. The company aims to enhance user experiences and capitalize on the growing esports betting market, valued at an estimated $17 billion in 2020. CEO Aaron Speach highlighted Rocket League's competitive nature as a valuable addition to their lineup.
Esports Technologies (NASDAQ: EBET) is now accepting wagers on its international platform, Gogawi.com, for popular esports titles including Counter-Strike, League of Legends, and Dota 2. The platform, available in over 140 jurisdictions, incorporates new payment solutions such as Apcopay and Astropay to enhance user experience. Esports viewership is on the rise, with millions of hours watched on Twitch for various games. CEO Aaron Speach expressed excitement about engaging esports communities through wagering, indicating potential market growth.
Esports Technologies (Nasdaq: EBET) has appointed former NBA player Jack McClinton as a strategic advisor to enhance its growth and brand presence. McClinton aims to leverage his extensive sports and entertainment connections to broaden the company's audience through partnerships with athletes and influencers. He joins other notable advisors, including Nolan Bushnell and Clinton Sparks. CEO Aaron Speach expressed enthusiasm for McClinton's expertise, which he believes will resonate with diverse audiences and advance the entire esports industry.
Esports Technologies (NASDAQ: EBET) has partnered with Spinomenal, a leading gaming developer, to enhance its international platform, Gogawi.com. This partnership enables Esports Technologies to offer real money casino games, providing esports and sports bettors with a wider range of wagering options. The Gogawi platform, which relaunches in March 2021, now includes improved payment solutions and is available in over 140 jurisdictions. This alliance aims to enhance user experience by integrating traditional gaming with esports betting.
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