Esports Entertainment Group has completed its purchase of Argyll Entertainment AG, an online sportsbook and casino operator for an undisclosed sum.
In addition to its corporate divisions, Esports Entertainment Group has absorbed Argyll’s parent company LHE Enterprises as part of the acquisition.
Grant Johnson, CEO of Esports Entertainment Group commented: “Acquisitions are an important component of our growth strategy and completing our first acquisition as a NASDAQ company is a tremendous milestone for us.
“Argyll generated $12 million in revenue in 2019, and with its base of more than 100,000 registered users, combined with the deep domain knowledge of its accomplished team, we have a strong foundation to build upon as we seek to capitalise on the wealth of opportunities ahead in this rapidly growing market.”
The group had previously announced its intention to purchase Argyll back in May, the move being part of the expansion of Esports Entertainment Group into the traditional betting space.
In June, Argyll CEO Stuart Tilly and CFO Dan Marks joined the senior management team of the Esports Entertainment Group as Corporate Secretary and Chief Financial Officer, respectively.
Earlier this week, after announcing Jeff Cohen ‘s appointment as Vice President of Strategic Planning and Investor Relations, Esports Entertainment Group expanded its Executive Leadership ranks.
BIG NEWS! IT’S OFFICIAL
Esports Entertainment Group Completes Acquisition of Online Sportsbook & Casino Operator Argyll Entertainment
— Esports Entertainment Group $GMBL / VIE.gg (@eSportsEntGroup) July 31, 2020