Esports Acquires Argyll Entertainment’s LHE Enterprises

Published: 04/08/2020 | Last Updated: 09/10/2020

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Esports Entertainment Group Inc. announced its purchase of LHE Entertainment Ltd, Argyl Entertainment AG’s holding company.

Argyll Entertainment, an online sportsbook and casino operator with operations in the UK and Ireland, provides an entertaining and secure online gambling experience with expertise in marketing, technology, risk management, and regulation.

Online casinos and sportsbooks are rapidly growing in many countries. UK’s online gambling industry flourished after the Gambling Act of 2005 took effect. Since then, online sportsbooks and casinos raced to legitimize their operations. In the US, sports betting and other online gambling operations became legal when the Supreme Court decided to lift the ban on the industry.

More and more companies appeared in the market when government restrictions were lifted. The novel coronavirus pandemic boosted the growth of online gambling. The stay at the home mandate of government leaders shifted the attention of gamblers from land-based casinos to online gaming. Online gambling companies started expanding their operations, and mergers became a trend.

Esports Entertainment merged with LHE Enterprises

Argyll Entertainment is among the most competitive startup companies in the gambling industry. The company won the 2018 EGR Marketing & Innovation Awards’ Innovative Startup of the Year. Grant Johnson, Esports Entertainment CEO, said the acquisitions are essential in the company’s growth strategy, and the purchase is considered a tremendous milestone for the Nasdaq listed company.

He revealed that the company produced $12 million in revenue last year, and it owns more than 100,000 registered users. The CEO bragged that its accomplished team’s in-depth domain knowledge provided a strong foundation to build upon as they reach their goal to capitalize on massive opportunities in the rapidly growing online gambling market.

Argyll CEO Stuart Tilly will work as the corporate secretary and CFO Dan Marks as the CFO.

Esports Entertainment added the former Wall Street investment bank and asset manager, Stephens Inc Jeff Cohen, as the Vice President of Strategic Planning and IR. It was the first company to be listed as a publicly traded esports wagering company. The company’s common shares were listed under the symbol “GMBL” on NASDAQ.

Esports Entertainment continues to expand

Esports entertainment aims to expand its operations all over the globe. The company will continue partnering and acquiring high potential startup companies to reach its goals. It aims to provide entertainment through multi-player mobile, console, and PC video game tournaments. The company is under the supervision of the US Securities and Exchange Commission.

Its purchase of LHE Enterprises will bring online gambling to a different level. Online casinos and sportsbooks operations of the merger could bring the industry to a broader market. Esports Entertainment assures safe and secure online gaming services.

The rise of online gambling is inevitable as technology rapidly develops, and as outlooks of governments changes towards the industry. The development of mobile gaming boosted the growth of the industry.

More and more people enjoy playing their favorite casino games while they are comfortable staying in their homes.

Experts projected massive growth of the industry as companies work hard to develop online casino solutions.