FinancialBuzz.com News Commentary
New York, NY (12/14/2021) – The eSports industry is a young, yet widely popular market. Since the pandemic begun, the strength of this market has made itself known. Overall, an increasing number of individuals watch eSports videos and tournaments, as these activities have become rapidly more accessible due to increasing connectivity and the expansion of reach and coverage. In addition, broadcasters operate various sites to broadcast live coverage of competitions and their own games. As a result, fans can easily attend their favorite tournaments and connect with their favorite eSports players. Additionally, viewership and broadcasters on these platforms have increased significantly in the recent past. Furthermore, on a global scale, the eSports market size reached USD 1.16 Billion in revenues back in 2020 and is expected to grow at an impressive CAGR of 20.7% to reach USD 5.19 Billion by 2028, according to latest analysis by Emergen Research. Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX), Esports Technologies, Inc. (NASDAQ: EBET), DraftKings Inc. (NASDAQ: DKNG), Activision Blizzard, Inc. (NASDAQ: ATVI)
A major spin-off segment of the eSports industry is betting. The demand for online gaming and online betting is high in large part thanks to technological advancements, ease of access and use, as well as a friendlier regulatory framework in many parts of the world. Overall, “the increasing popularity of video games is expected to drive the esports market size. The online gaming market is growing at a healthy pace due to factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming. Furthermore, the growing mobile penetration and increased internet access are expected to fuel the esports market size,” according to Valuates Reports.
Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF) just announced breaking news regarding, “the creation of Generationz Gaming Entertainment Inc. (“Generationz”), a new U.S. subsidiary located in Chicago, Illinois, led by gaming veteran CEO William (Bill) Foss.
Generationz has signed a letter of intent (the “LOI”) with Wild Rose Entertainment (“Wild Rose”) to award Generationz a LOOT.BET sports wagering skin. The LOI will be contingent on, among other things, the negotiation of a definitive agreement, successful certification of the LOOT.BET betting platform by Gaming Laboratories International and obtention of a gaming license from the State of Iowa Racing and Gaming Commission.
‘We are thrilled to welcome Bill to the Intema team and are impressed with what he has managed to accomplish in a very short period of time,’ said Laurent Benezra, President and CEO of Intema. ‘The LOI with Wild Rose is just the beginning of what the LOOT.BET platform could bring to Intema once its acquisition is finalized.’
‘As CEO of Generationz, I eagerly look forward to this next chapter of my career and to using my gaming knowledge and contacts to create a successful and profitable company,’ said Bill Foss, CEO of Generationz. ‘Wild Rose has three establishments in the State of Iowa and a solid reputation in the state’s gaming community, where more than US$1 billion was wagered in 2021. Once everything is finalized, we will be able to offer a great product to customers of Iowa.’
Bill Foss has worked in the gaming industry for approximately 29 years, having started on the marketing side of operations before rising to general manager, which allowed him to gain an understanding of the operations and regulatory side of gaming. Bill has worked in corporate gaming as well as Native American gaming over the years and has been fortunate enough to learn gaming from some of the most influential and successful gaming operators and owners. Bill has worked in numerous areas and jurisdictions, including Illinois (St. Louis area), Indiana (Cincinnati area), Iowa (Dubuque), San Diego, Northern California (Mendocino County), New Mexico (Taos), Arizona and Northern Wisconsin. Bill has a degree in Business Administration from the University of Utah…
Intema Solutions Inc. is the world’s emerging leader in the esports and iGaming industry. Our mission is to bring the excitement of esports betting to the entire world through fully licensed, secure online platforms. Our ecosystem consists of subsidiaries in esports, iGaming, product branding, digital advertising and marketing campaign design that are all complementary drivers of our future revenue growth. For more information, please visit our corporate website at intema.ca”
Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) reported back in November that Unique Visitor traffic to its digital media property in the United States reached an all-time high in October 2021, based on recent digital media ratings from Comscore, a leading independent third-party measurement firm. The Enthusiast Gaming digital media property reached 47.8 million U.S. Unique Visitors for the month of October (Comscore Media Metrix®, Desktop 2+, Mobile 13+, October 2021, U.S.). The metric does not include additional under-18 mobile video traffic to the Company’s property, or viewership in the Company’s esports and entertainment division, including viewership of Luminosity Gaming. Enthusiast Gaming ranks between streaming platform Twitch, and game platform Roblox, as a top property in the overall Games category, which includes Gaming Information and Online Gaming sites. “This Comscore data shows the continued growth and attractiveness of our platforms to the coveted U.S. Gen Z and Millennial audience,” commented Adrian Montgomery, CEO of Enthusiast Gaming. “Gaming continues to take a greater share of overall Internet traffic, and we are proud to be next to companies like Twitch and Roblox in taking a greater share of overall gaming traffic.”
Esports Technologies, Inc. (NASDAQ: EBET) reported last week that it secured access to a UK gaming license through an operator services agreement signed along with the $75.9 million acquisition of Aspire Global’s (STO: ASPIRE) B2C assets. Through the deal, Esports Technologies gained 1.25 million deposited customers, the majority of them from UK-focused online sportsbook and casino brands Karamba, Hopa, and Griffon Casino. Other brands acquired include BetTarget, Dansk777, and GenerationVIP. The brands recorded wagering of $1.86 billion and $183 million in cash deposits in the most recent 12-month period ending September 2021. The UK offers one of the world’s largest gaming markets. According to the UK Gambling Commission, Great Britain’s gaming revenue from April 2019 to March 2020 was approximately $19.2 billion. Online gaming has become the largest sector, accounting for roughly 40% of that total revenue. Bart Barden, COO, Esports Technologies, said, “Gaining access to this UK gaming license is a massive strategic milestone for Esports Technologies. We’re thrilled about this highly lucrative gaming market, and we look forward to bringing our portfolio of esports products to the UK.”
DraftKings Inc. (NASDAQ: DKNG) and The New Hampshire Lottery and Filotimo Casino & Restaurant announced on October 18th that they are teaming up again to expand retail sports betting in New Hampshire. Manchester-based Filotimo Casino & Restaurant, which houses DraftKings Sportsbook at Filotimo, today opened a sister retail sports betting establishment in Dover under the same name located at 887 Central Avenue in Rollinsford. The Filotimo property is shared between the city of Dover and the town of Rollinsford, with the building located in Rollinsford. DraftKings Sportsbook at Filotimo in Dover marks New Hampshire’s third retail sportsbook; DraftKings Sportsbook at The Brook in Seabrook opened in August 2020 and DraftKings Sportsbook at Filotimo in Manchester opened in September 2020. “Sports betting has been a success in New Hampshire since launching nearly two years ago and we are pleased to continue working with DraftKings and Filotimo Casino & Restaurant to expand sports betting opportunities for our players,” said Charlie McIntyre, Executive Director, New Hampshire Lottery. “The new DraftKings Sportsbook at Filotimo in Dover will further cement New Hampshire as the premier sports betting destination in the northeast, and we know this location will continue to make a major positive impact on our ongoing efforts to maximize revenue for our schools here in New Hampshire.”
Activision Blizzard, Inc. (NASDAQ: ATVI) reported last month that Call of Duty: Vanguard is available worldwide. Vanguard delivers an unparalleled depth of Call of Duty® content across a gripping single-player story, 20 multiplayer maps on day one, an all-new Zombies experience that further explores existing story canon. Vanguard also features the deepest integration yet with Warzone
, which will launch the new Warzone Pacific, including the new map “Caldera” on December 2nd. “Vanguard launch is just the beginning. This new release will deliver unprecedented breadth and depth of amazing content experiences for Call of Duty players,” said Johanna Faries, General Manager, Call of Duty, Activision. “Together with next month’s release of the all-new Warzone Pacific map, Call of Duty is set to create the most integrated and deepest live ops calendar we’ve ever had. Today is an exciting next chapter for our ever-evolving franchise.”
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