Esports Entertainment Group Raised $13.6m in New Stock Offering
NASDAQ-listed Esports gambling company Esports Entertainment Group (EEG) announced their completion of the new common stock and warrants offering. The company raised a total of $13.6m.
CEO of EEG, Grant Johnson commented: “The proceeds from this important offering allow us to build our working capital reserves and enable the company to repay a portion of its outstanding debt.
“Collectively, this will provide our company with a far firmer foundation which will allow us to take advantage of the growth potential provided by our newest esports products as well as our European-based igaming and online sports betting businesses. In particular, we remain extremely bullish about the growing interest in our OMEGA solution and believe the debut of our LANDuel platform later this month will have a material impact on our financial performance in the coming quarters.”
EEG is a major player in the new world of Esports and maintains offices in New Jersey, the UK and Malta