Esports Entertainment Group Inc (NASDAQ:GMBL) said it has signed a partnership agreement with investment bank Spectrum Gaming Capital and the Indian Gaming Esports Association (iGEA) to provide an impetus to esports adoption among tribal nations and casinos.
Under the terms of the agreement, Esports Entertainment Group will be the exclusive provider of esports technology and services to iGEA as it seeks to integrate a full suite of B2C and B2B esports services to tribes and tribal casinos.
"Indian Gaming has historically been a key driver of industry evolution, and with our entrance into esports, we plan to keep our nations at the forefront of gaming's newest trends," said Oneida Nation's Ernest Stevens III, who is the CEO of iGEA.
READ: Esports Entertainment to provide esports tournaments for the NHL’s New York Rangers
"Esports Entertainment has the vision, expertise, and, most importantly, the assets for a turnkey business operation and future-minded strategy that aligns with the best interests of tribes and tribal casinos; no need to re-invent the wheel. Additionally, Spectrum Gaming has the relationships and strategic capabilities to help drive this new venture to real success."
Esports Entertainment CEO Grant Johnson sees it as a “tremendous opportunity” to pioneer a massive untapped market.
"We look forward to providing iGEA the tools and technology necessary to execute on their vision of building and leading the esports ecosystem for tribal nations,” said Johnson.
Esports Entertainment is a full stack esports and licensed online gambling company focused on the growing world of professional video gaming. Utilizing its proprietary player-to-player wagering system, Esports Entertainment offers esports fans and enthusiasts from around the world (excluding the US) the ability to wager on all professional esports events for real money in its licensed and secure environment.
"The entire Spectrum Gaming Group of Companies see the potential for iGEA to create a tribal-centric esports organization that will foster members' opportunities to compete nationally and globally, and tie into tribal casino operations in those states where betting on esports is permitted by law,” said Spectrum Gaming Capital CEO Robert Heller.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive