Malta-based gambling firm Esports Entertainment recently signed a landmark deal that saw it become the official Esports tournament provider of the LA Kings and LA Galaxy. As one of the most recognizable online esports tournament and gaming companies out there, this partnership will elevate Esports Entertainment’s position in the already crowded but thriving sports betting markets.
Both the LA Kings of the NHL and the LA Galaxy if MLS will also benefit greatly from this agreement. Both these teams have been making waves in their individual leagues and this partnership will provide new and innovative ways for teams to connect with their fans while attracting traditional sports fans and organizations that would otherwise not engage in esports.
Under the terms of the agreement, which were brokered by AEG Global Partnerships, a top sports, and live entertainment company, Esports Entertainment will exclusively host branded tournaments for both teams on its vibrant Esports Gaming League (“EGL”) platform.
The Esports Gaming League platform currently boasts more than 350,000 registered players that enjoy the array of content available on the platform. These players can choose from the range that consists of sporting events, branded games, live streams, as well as online tournaments.
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Josh Veilleux, senior vice president, AEG Global Partnerships had this to say about this new remarkable partnership, “AEG is proud to join forces with EEG, an industry leader whose commitment to their customers and the overall growth of sports and entertainment aligns perfectly with ours.
We are continually looking for new and innovative ways to give back and add value to our fans. Thanks to this first-of-its-kind partnership, both the Kings and the Galaxy will be able to create even more memorable experiences for the devoted Angelenos who support them.”
What we cover
What does this mean for Esports Entertainment Group?
Esports is fast becoming a multi-billion-dollar industry and sports leagues have realized that there is value to be gained in the burgeoning industry. Thanks to a growing mass-market appeal, as well as the wealth of untapped opportunities available, sports leagues are eager to become part of the action.
With such partnerships, Esports Entertainment Group has managed to create one of the most varied, US-listed esports entertainment assets in the esports ecosystem. Such partnerships are in line with the group’s Three Pillar Strategy that’s focused on:
- Adding world-class esports entertainment centers
- Creating an esports-centric vertical enterprise software organization
- A state of the art esports analytics platform
- Player versus player skill-based wagering platform designed to diversify the group’s asset base.
Together with the great work that’s already done and with more such partnership opportunities in the future, Esports Entertainment Group is scheduled to become the world’s industry leader. Esports Group has already courted several deals this year including the acquisition of venue company Helix esports, as well as B2B software provider ggCircuit to its list of assets.
Sports leagues are going in on Esports
Most major American sports leagues have expressed their interest in esports leagues and tournaments. This boom coincides with esports growth. Sports leagues are keen on joining this vibrant industry that currently has many entrants and even fewer incumbents.
Esports is a great way for sports leagues to drive existing business, as well as ensure long term growth. Esports is growing faster than anyone could have anticipated in other parts of the world. However, in the US, the growth hasn’t been as rapid as some would like.
Case in point, New Jersey, which is currently the king of legal sports betting in the country and the main driving force behind sports betting legislation, has been trailing as it regards esports offerings. However, things are now looking up as we’ve covered here.
In November 2019, the New Jersey Division of Gaming Enforcement (DGE) finally sanctioned the Garden state’s first esports exemption by okaying bets made on the League of Legends World Championship finals. Across the pond in Vegas, licensees in Nevada can also accept bets on various esports including Call of Duty, Global Offensive, and more.
Although New Jersey was projected to be a frontrunner in the development of esports betting in the country after the Supreme Court’s PASPA repeal, it appears to have accomplished much less compared to Nevada. But Esports Entertainment hopes to change all that.
In alignment with today’s super dynamic entertainment industry, consumers are demanding more interactive and higher quality gaming content. This demand will extend to the entire sports industry. Already, the Esports industry is becoming more and more structured with its own leagues and associations to speak of.
The increased number of mergers and acquisition activities is only helping to reflect the strength and the potential for growth in the market as we’ve discussed in lengthy detail here. Today, the global Esports market is anticipated to reach USD 6.82 Billion by 2027. As video games continue to become more and more popular among younger players, the rising awareness of Esports and the increased mobile usage across the world and country will only make this industry more profitable than it is now.
Final Thoughts
This partnership between Esports Entertainment and the LA Galaxy and Kings is yet another considerable milestone that will allow the group to grow even further in the US market. Esports Group already owns and operates one of the most prominent esports betting platforms that are licensed to accept bets in over 149 jurisdictions that ran the gamut from Canada and Japan to South Africa.
During the pandemic, esports experienced a significant increase in the average number of viewers and bettors, which is good news for any sports leagues and shareholders that are looking to cash in on the thriving industry. With esports quickly becoming a billion-dollar industry, it has definitely become a great space for sports leagues to join.
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