B2C and B2B esports betting and iGaming company Esports Entertainment Group has made a strategic investment in Drafted.gg. According to the company, the deal seeks to broaden its reach in the esports events and betting content production market. Financial details of the deal were not disclosed.
EEG announced the signing of a binding Letter of Intent to acquire 30% of Drafted.gg last Thursday, marking the beginning of a strategic collaboration and revenue-sharing agreement. Based in the Czech Republic, Drafted.gg is a producer of bettable esports content and operates two production studios in Prague and the United Arab Emirates, offering games in a variety of esports.
Matches are streamed live and online across Twitch and YouTube, as well as other platforms, and are currently offered in jurisdictions across Europe and Asia.
Esports Entertainment CEO Alex Igelman said: “We are excited to obtain a minority interest and participate in a revenue-sharing agreement that Drafted.gg has in place, as a first step in a broader planned collaboration. Drafted.gg is a top-tier provider of esports content, currently including popular esports titles in eSoccer, eBasketball, and eCricket.
“This transaction supports Esport Entertainment’s strategy to embed wagerable content into our expanding esports and iGaming offering. This initial investment and collaboration with Drafted.gg allows us to seamlessly add a best-in-class provider of 24/7 esports content and wagering to the company’s robust ecosystem.”
He also revealed the possibility of buying the whole of Drafted.gg in the future: “We anticipate that based on the performance of their esports content during the first phase of our collaboration, as well as Esports Entertainment’s ability to successfully onboard its first U.S. sportsbook, the company would then acquire the remaining 70% of Drafted.gg.”
The executive said EEG “firmly believes” that the vast array of content—comprising thousands of short-cycle games available each month, with the majority concluding in 8 minutes or less—will be “well-received” by esports bettors in the United States. Igelman added that the company is confident in its ability to successfully onboard Drafted.gg content with leading U.S. sportsbooks.
“The company’s recent focus has turned towards developing initiatives to further broaden our esports and iGaming solutions in order to create a more comprehensive, end-to-end offering of online betting options for our customers,” the executive added.
“Today’s announcement perfectly complements our impending Delasport sportsbook offering and our collaboration with Oddin.gg, a leading esports betting solution entity. Through these relationships, and coupled with Drafted.gg’s live esports content, the company has built a comprehensive ecosystem for the benefit of our clients and customers.”
Original article: https://www.yogonet.com/international/noticias/2023/11/07/69531-esports-entertainment-group-takes-30-stake-in-draftedgg-to-expand-b2b-esports-betting-offerings
