In its quest to expand its iGaming and esports capabilities, Intema has acquired Livestream Gaming. This follows the satisfaction of the remaining conditions for the release of escrowed funds.
Intema, which is based in Canada, now owns Loot.Bet, an online, real-money gaming platform with a special focus on iGaming and esports. This purchase allows Intema to expand its offering in both markets.
“This is a great day for Intema as Loot.Bet is an important stepping stone for us in the esports and iGaming sectors,” noted Laurent Benezra, President and CEO of Intema.
“In our view, Loot.Bet’s online gaming platform is second to none and has great market and scaling potential.
“Over the last year, Intema’s team has been working hard in parallel to build our esports and iGaming ecosystem in anticipation of this very moment, and we look forward to sharing our progress as we continue to expand our activities and focus on achieving profitable growth.”
Throughout the 2021 fiscal year, Livestream Gaming recorded total gross gaming revenue of $2.5m. Most of these profits can be traced to its European and Asian offerings.
While all terms for the deal have been agreed, the acquisition will not take place until a Toronto Stock Exchange Venture Exchange bulletin is announced and a filing statement is posted on SEDAR.
This announcement follows a growing trend throughout North America. Indeed, esports is becoming more and more prevalent in the world of gaming, with New Jersey allowing the first esports betting operator to launch its platform in January.
