Client Esports Entertainment Group Completes $45 Million Acquisition of Helix eSports and ggCircuit
Lucosky Brookman LLP is pleased to announce that its client Esports Entertainment Group, Inc. (NASDAQ: GMBL), successfully closed its acquisition of Helix eSports LLC and ggCircuit LLC. The purchase price was approximately $45 Million. The Firm acted as corporate, securities and M&A counsel to the company.
"With the completed acquisition of Helix and ggCircuit, we have created the most diversified, US-listed esports entertainment asset in the entire ecosystem," stated Grant Johnson, CEO of Esports Entertainment Group. "These acquisitions significantly strengthen our Play, Watch, Bet Strategy, adding state-of-the-art esports entertainment centers, an esports-focused vertical enterprise software business, a best-in-class esports analytics platform, and a player-vs-player skill-based wagering platform to our diversified asset base. Together with what we have already built, Esports Entertainment Group has unparalleled scale, and we are on our way to becoming a global industry leader."
ggCircuit is a B2B software company that provides cloud-based management for LAN centers, a tournament platform, and integrated wallet/point-of-sale solutions for enterprise customers. ggCircuit has over 1,000 connected locations and has worked with enterprises such as GameStop, Dell, Best Buy and Lenovo. Their ggLeap product has over 60 million hours of usage by over two million gamers on tens of thousands of public gaming screens inside centers worldwide.
Helix eSports owns five esports centers, including two of the five largest centers in the US, where they deliver world-class customer service, esports programming and gaming infrastructure.
Helix also owns Genji Analytics, an esports-proven, publisher-trusted analytics provider. Using sophisticated computer vision, natural language processing, and machine learning tools, Genji delivers cutting-edge broadcast optimization and talent scouting analytics. Genji works with leading esports publishers and sports leagues, such as FIFA and the NBA 2K League, to power activities like combines, drafts and data-driven business decisions.
The acquisition also includes LANduel, Helix's proprietary player-vs-player wagering platform, built in Unity, that allows for skill-based wagering on third-party video games. LANduel's consumer facing application enforces strict four-factor authentication to ensure fair play and ID verification.