Esports Entertainment Group eyes US gambling expansion with New Jersey firm
Malta-based online gambling company Esports Entertainment Group (EEG) has established a subsidiary with the intent of obtaining gambling licenses throughout the United States.
The firm, GMBL New Jersey Inc., will be based in, and operated from the Garden State, where the company plans to expand its current esports market position. EEG will apply for its first license in New Jersey in “the near future,” and will provide updates surrounding pending applications in other jurisdictions.
On April 9th, Esports Entertainment Group took to the NASDAQ with its initial public offering, generating approximately $2,750,000 (£2,184,572.50) in warrants and common stock as of May 31st. The company states the investments will assist in providing the “resources necessary to execute its business plan.”
Grant Johnson, CEO of Esports Entertainment Group, commented on the venture in a release: “Today’s announcement marks yet another significant milestone and provides the market with even greater insight as to our growth strategy,” said Grant Johnson, CEO of Esports Entertainment Group. “The US market represents a very big opportunity for us and thanks to the continued support of our valued shareholders, we intend to aggressively pursue it in 2020 and beyond.”