When it comes to key strategic partnerships that are set to yield optimal revenues, count Esports Entertainment Group in.
Esports-focused licensed online gambling company Esports Entertainment Group is on a roll as it has recently completed its acquisition of FLIP Sports’ technology assets, gaining full ownership of selected and various assets under FLIP Sports, including staff and intellectual party.
FLIP Sports, a mobile game studio that focuses on revolutionizing engagement with live sports, is the latest company to be integrated into the growing Esports Entertainment ecosystem.
Grant Johnson, Chief Executive at Esports Entertainment, said:
“With this transaction, we’re also gaining a world-class development team with a specific expertise in gambling, along with award-winning customised software, and as a bonus, they have existing revenue which adds to our financials.”
Similarly, John Brackens, Chief Information Officer and Chief Technology Officer at Esports Entertainment, views FLIP’s addition to the company is vital to their mission to enhance player experience for esports fans.
Esports Entertainment Eyes Million-Dollar Revenue
The said acquisition is the latest on Esports Entertainment’s list. For the past months, Esports Entertainment Group has been on a roll with key partnerships, following its milestone of being the first esports operator to be listed on NASDAQ.
With its investments in strategic partnerships and movements, Esports Entertainment now eyes a 13 million USD revenue for its 2021 fiscal year.
The company recently released its forecast revenue for next year, which marks its first year to gain revenue following a ‘development stage’. The expected revenue stems from the various partnerships and decisions made in the past months.
Adding to this figure is the expected growth of the VIE.gg betting exchange platform, which registers a revenue opportunity of 180 million USD.
Could Blockchain Technology Be Next?
With the directions Esports Entertainment has been taking, it is only logical for the company to tap the latest technologies that can further bring their services up a notch. And one of these technologies is blockchain.
Several companies from various fields have already started integrating blockchain technology into their systems. Gaming is among them, with companies like Xaya already exploring blockchain through their products. Even Ubisoft has tapped blockchain for a new gaming world. In fact, CryptoFights.io creator Kronoverse partnered with ESL earlier this year.
Magnus Leppäniemi, VP of Marketing and Head of Esports at Esports Entertainment Group, told BestBitcoinCasino.com:
“Up until now, it feels like they have been throwing crypto and blockchain to everything on gaming to see what sticks, with very few projects seemingly using blockchain technology to its full potential. And so nothing has really stuck so far but it will come. I’m sure.”
As big players in the gaming scene and esports industry are moving forward with blockchain, it is only a matter of time when Esports Entertainment will join the others.
At present, the Bitcoin sports betting market continues to thrive, especially as usage and support for digital payments rise in several countries. Along with this is the stronger billion-dollar esports industry that has given rise to a fast-growing Bitcoin esports betting niche.
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