Esports Entertainment announces strategic investment in Drafted.gg

Esports Entertainment announced that it has signed a binding Letter of Intent to acquire a 30% minority interest, in furtherance of strategic collaboration and revenue sharing agreement with Drafted.gg, a wagerable esports content producer based in Czech Republic. Alex Igelman, CEO of Esports Entertainment, stated, “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. Drafted.gg currently operates two content production studios, one in the United Arab Emirates and the other in Prague, Czech Republic. 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. 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. 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. We firmly believe 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. We are also confident in our ability to successfully onboard Drafted.gg content with leading U.S. sportsbooks.”