Esports Entertainment Group backs new Allied Esports event – iGB
Esports Entertainment Group, a company that takes bets on esports, has inked a new licensing and sponsorship agreement with Allied Esports Entertainment, a worldwide esports events firm that owns the World Poker Tour (WPT).
As part of the deal, Esports Entertainment Group’s leading esports betting platform Vie.gg will be the main sponsor of Allied Esports’ upcoming Counter-Strike: Global Offensive (CS:GO) competition.
The inaugural event in the Vie.gg CS:GO Legends Series will commence next month, and spectators can wager on the matches using Vie.gg. A total of €50,000 (£44,818/$56,687) in prize money will be given to the competing teams.
The tournament will be Allied Esports’ sixth CS:GO Legends Series, but it will be the first to feature a licensed partner and title sponsor. Allied Esports has previously hosted events focused on Overwatch, League of Legends, FIFA, Call of Duty: Black Ops, and Valorant.
Esports Entertainment Group backs new Allied Esports event – iGB
Esports Entertainment’s chief executive, Grant Johnson, expressed enthusiasm about collaborating with Allied Esports, a leading force in the industry, as the primary sponsor for their latest esports competition.
This title sponsorship will prominently display the Vie.gg brand to teams, enthusiasts, and influential figures, boosting the adoption of the VIE.gg platform.
Allied Esports’ CEO, Frank Ng, added that The Legend Series is one of their most successful original tournament brands. He expressed excitement about partnering with Esports Entertainment Group and the Vie.gg platform to incorporate a betting element, which will attract new customers to Allied Esports and enhance the brand’s standing.
This agreement comes after Esports Entertainment announced this week that they will finalize their acquisition of Argyll Entertainment, an online gambling and gaming operator, by the end of July. This follows the two companies reaching a definitive agreement to acquire the company.
Esports Entertainment has also forged a new partnership with Akur Capital, an independent capital markets advisor, to support their mergers and acquisitions strategy.
In May, Allied Esports reported an increase in losses and a decrease in revenue for the first quarter of 2020. This was partly attributed to the novel coronavirus (Covid-19) pandemic. Revenue for the three-month period ending March 31 was $6 million, representing a 3.2% decline from $6.2 million in the first quarter of 2019.
