NEW YORK, February 8, 2021 / PRNewswire / – The past few years have seen major developments in the organization of video games and esports competitions, creating a new and rapidly growing market. Awareness of esports is also growing rapidly around the world thanks to technological advances and higher income levels. According to Grand View Research, limited tournament infrastructure and a smaller number of organizations have constrained market growth in recent years. Such restrictions resulted in fewer sources of income for players and team owners. However, in 2017 Riot Games founded the League of Legends for the North America and Europe Region that gives the tournament a structured format. Later, in 2018, Activision Blizzard, Inc. launched its Overwatch league and created the necessary infrastructure and monetization for the eSports tournaments. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Skillz Inc. (NYSE: SKLZ), Super League Gaming, Inc. (NASDAQ: SLGG), Allied Esports Entertainment Inc. (NASDAQ: AESE), DraftKings Inc. (NASDAQ: DKNG)
As in any segment of the online entertainment industry, the number of viewers and direct participants is critical to success. According to a report by Business Insider, eSports viewership is expected to grow at a compound annual growth rate (CAGR) of 9% between 2019 and 2023, from 454 million in 2019 to 646 million in 2023, according to Insider Intelligence estimates. This segment also offers related gambling and betting functions, making it similar to the online sports betting segment. Data provided by the American Gaming Association trading group and reported by Bloomberg suggests 7.6 million Americans are expected to bet using online sports betting for Sunday's matchup between the National Football League and the Kansas City Chiefs Tampa Bay Buccaneers will be completing. That is an increase of 63% compared to the previous year – and according to the organization, the highest ever.
FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS) announced last week through its subsidiary Askott Entertainment Inc. that it "has signed an agreement with Gaming Laboratories International (" GLI ") to evaluate the company's online betting offers for Compliance with and certification of the GLI-19 standards for interactive game systems ("GLI-19 standards") and the GLI-33 standards for event betting systems ("GLI-33 standards"). GLI is the largest and the furthest widely used independent testing laboratory for iGaming and is trusted by gaming regulators worldwide for the certification of sports betting and land-based gaming products.
With a presence on six continents, GLI provides gaming operators in over 480 countries around the world with high quality compliance testing and certification services. To complete the GLI assessment, FansUnite will undergo world-class testing of its leading iGaming and sports betting solutions such as the Chameleon Gaming Platform and Askott Entertainment's RNG game suite. With the certification to GLI-19 standards and GLI-33 standards, FansUnite can ship its online gaming products to various states in the United States and the provinces Canada To do this, gaming companies must adhere to the GLI standards. Any additional unique technical requirements that states and provinces may require can be tested in parallel by GLI to ensure the most efficient certification process and enable FansUnite to enter the market faster.
"We are pleased to announce that we are on track to complete the regulatory process for the distribution of our betting platforms in the North American market," he said Scott Burton, CEO of FansUnite. & # 39; Our focus is on rapid expansion in the US and CanadaFor this reason, we strive to receive favorable reviews from GLI in order to deliver our solutions to an expanded North American gaming market. & # 39; "
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Skillz Inc. (NYSE: SKLZ) reported last week that it is joining forces with the National Football League (NFL). Under the agreement, the two sports organizations will host a global game developer challenge. Competing developers have the opportunity to develop an NFL mobile game. The game is supported by the Skillz esports platform and is co-marketed by the NFL and Skillz. The combination of the NFL brand and the Skillz platform will set the stage for the future of electronic sports competition. "The NFL is a cult brand synonymous with American sports, and Skillz is excited to be supporting their esports competitions on mobile devices," he said Andrew Paradise, CEO and founder of Skillz.
Super League Gaming, Inc. (NASDAQ: SLGG) announced last month the exciting success of its latest youth-focused initiative, Winter Wonderland, which was built entirely in Minehut, the Super League's Minecraft community. The Winter Wonderland program that ran from December 18, 2020 to January 6, 2021, brought Minecraft players a fun, snow-covered landscape with vacation-themed structures and a Play Your Way parkour course sponsored by Logitech G. The in-game event received more than 8.6 million registrations. In just 21 days, players spent 165,886 hours on the program, which equates to 6,912 days, or nearly 19 years. Additionally, in-game chat messages increased by almost 45% in the first 24 hours that they were live. "The Super League's focus on giving young players fun and exciting gaming experiences has been incredibly successful," he says Matt Edelman, Chief Commercial Officer of Super League Gaming. "The attendance figures for Winter Wonderland have been fantastic and just the beginning of what we expect to see in 2021. We have several exciting new adventures planned in Minehut that young fans can enjoy and that will continue to provide compelling activation opportunities for our partners."
Allied Esports Entertainment Inc. (NASDAQ: AESE) and Element Partners, LLC ("Element"), a privately held investment vehicle, announced a definitive agreement last month under which Element will acquire the poker business and assets of the company, including the companies that comprise the World Poker Tour® ("World Poker Tour" or "WPT®"). Under the terms of the agreement, Element will acquire the World Poker Tour for a total of USD 78,250,000, consisting of a USD 68,250,000 Advance payment and a fully guaranteed sales share of 5% of the participation fees for WPT tournaments on Element-owned or licensed game platforms up to a maximum amount of $ 10 million, payable over three years after graduation. The Company's Board of Directors has approved the transaction, which is expected to close in late January or early February 2021assuming that the Company's shareholders approve the transaction and comply with required regulatory approvals and other customary closing conditions.
DraftKings Inc. (NASDAQ: DKNG) and the National Football League (NFL) announced last week that the two had reached an agreement to expand their current Daily Fantasy Sports (DFS) and content partnership to include Canada. Previously, the landmark marketing and content deal between DraftKings and the NFL was limited to The United States. Today's announcement of an expanded contract further deepens the relationship between the two organizations and enhances the DFS fan experience in Canada as the NFL season approaches the Super Bowl. "The relationship we share with the NFL is important to DraftKings in delivering a great customer experience," he said Ezra Kucharz, Chief Business Officer at DraftKings. "This expanded agreement presents us with a unique opportunity in the Canadian marketplace and we look forward to working with the NFL Canada team to further shape the modern fan experience."
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