Esports Technologies secures loan allowing for acquisition of Aspire Global products
$30m loan set to aid the Las Vegas company’s growth in the esports gaming market.
Esports Technologies (EBET) has received a $30m secured term loan from Columbia Pacific Business Finance, a lender that specializes in direct financing for middle market companies who are seeking venture, bridge or mezzanine debt solutions.
With the injection of cash, EBET aims to acquire aspects of the business-to-consumer arm of Aspire Global, the market-leading online operator. Among the brands EBET aims to acquire are Karamba, Hopa, Griffon Casino, BetTarget, and Dansk777.
As well, in acquiring these companies, the Las Vegas-based EBET will also be acquiring gaming licensing in Tier 1 markets in Europe, such as the UK, Germany, Ireland, Malta and Denmark.
Ultimately, EBET is looking to grow its esports gaming platforms.
EBET CEO Aaron Speach commented: “We are pleased to welcome Aspire’s portfolio of business-to-consumer online casino and sportsbook brands to Esports Technologies. EBET is on the leading edge of bringing the spreads, market depth, and speed to esports wagering that bettors have come to expect from online wagering on traditional sports.
“We look forward to introducing these capabilities to esports fans in several of the world’s largest regulated markets through this acquisition.”
CPBF’s Director of Business Development, Lawrence Litchfield, used the example of the deal to underscore his own group’s dexterity: “The transaction demonstrated the dexterity of CPBF. With borrower operations on five continents and rigid timelines imposed by a M&A process with two public companies, we are pleased that CPBF could deliver for all parties.”
The move – an American company seeking to buy European gaming know-how and gain access to its capital and its operating licenses – is indicative of the growing popularity of esports in the United States. EBET has proven itself canny at following this upward trend.
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