Boustead IPO Client Esports Technologies Completes Acquisition of Aspire Global’s B2C Business
Las Vegas, NV and Irvine, CA, December 2, 2021 Boustead Securities, LLC (Boustead) IPO client Esports Technologies, Inc. (Nasdaq: EBET), a leading global provider of award-winning advanced esports wagering products and technologies, announced today the successful closing of its acquisition of Aspire Global’s (STO: ASPIRE) B2C business for $75.9 million.
Under the terms of the deal, Esports Technologies has now closed on the acquisition of Aspire’s portfolio of B2C proprietary online casino and sportsbook brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Additionally, Esports Technologies gains access to gaming licenses in Tier 1 regulated markets including the United Kingdom, Germany, Ireland, Malta, and Denmark.
Boustead served as placement agent for $45,000,000 of the total $75.9 million inequity and debt securities sold to fund the acquisition. Strategically, Esports Technologies plans to leverage the increased market access from the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customer base.
In the most recent 12-month period ending September 2021, Aspire Global’s B2C revenue was $78.3 million and its EBITDA was $7.9 million, a 43% and 30% gain over the same period in the prior year, respectively. During the same period, the B2C business recorded wagering of $1.86 billion and $183 million in cash deposits from 1.25 million customers.
Aspire Global intends to serve as the back-end provider for the acquired B2C brands, maintaining operational continuity, and will likely offer Esports Technologies wagering products on its platform.
Aaron Speach, CEO, Esports Technologies, said, “Acquiring Aspire Global’s portfolio of innovative B2C brands, access to new markets, and its 1.25 million deposited customers is a strategic leap in our journey to become a world leader in esports wagering. We look forward to our partnership with Aspire as we continue to scale.”
Tsachi Maimon, CEO of Aspire Global, said, “Esports Technologies has rapidly established itself as one of the foremost innovators in esports wagering. Acquiring the world-class B2C portfolio we’ve built will hopefully further expand their reach in this skyrocketing global market.”
For more information regarding this transaction, please contact Dan McClory, Head of Equity Capital Markets at email@example.com
About Esports Technologies
Esports Technologies is developing groundbreaking and engaging wagering products for esports fans and bettors around the world. Esports Technologies is one of the leading global providers of esports product, platform and marketing solutions. The company operates a licensed online gambling platform, gogawi.com, that offers real money betting on esports events and professional sports from around the world in a secure environment. The company is developing esports predictive gaming technologies that allow distribution to both customers and business partners.
For more information, visit: https://esportstechnologies.com.
Note: Aspire Global’s B2C wagers, deposits, and net gaming revenue figures are based on an exchange rate of 1.19 U.S. dollars per euro. Net gaming revenues include EU VAT and are net of distribution expenses, gaming duties, and administrative expenses.
About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com
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