Esports Entertainment Group, Inc. (OTCQB: GMBL) operates as a licensed online gambling and gaming company, which specifically focuses on esports betting and 18+ games. Shares of the esports and gambling company rallied 22.22%, during trading on Thursday, June 6, 2019. Over the past month, Esports Entertainment Group has seen average daily volume of 20,952 shares. However, volume of 20,952 shares or dollar volume of $48,512, exchanged hands during trading on Thursday.
Shares of Esports Entertainment Group climbed on Thursday, after the company announced that it has filed an application to list on the NASDAQ Capital Market. The application is subject to review and approval from NASDAQ. In conjunction with the uplisting plans, the company filed an SEC Form S-1 in early May 2019 that seeks to raise a maximum of $11.5 million. Here is the full press release detailing of the NASDAQ application:
Esports Entertainment Group, Inc. Press Release:
BIRKIRKARA, Malta, June 06, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Esports Entertainment Group, Inc. (OTCQB: GMBL) (or the “Company”), a licensed online gambling company with a specific focus on esports wagering and 18+ gaming, is pleased to announce that it has applied to list its common shares on the NASDAQ Capital Market. The listing of the Company’s common shares on the NASDAQ remains subject to the approval of NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the OTCQB under the symbol “GMBL”.
This application to list on NASDAQ follows the Company’s announcement on May 3, 2019 of the filing of a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed offering of its securities. Though the number and type of securities to be offered and the price range for the offering have not yet been determined, the proposed maximum aggregate offering is $11,500,000. Investors can review details and the full press release at http://esportsentertainmentgroup.com/back-esports-entertainment-group-announces-filing-of-s-1-registration-statement/
Grant Johnson, CEO of Esports Entertainment Group stated “Given the tremendous progress of our esports betting platform, including partnering with more than 190 esports teams from around the world, we believe the Company is now well positioned to pursue additional growth opportunities. A NASDAQ listing, if successful, will broaden our access to a larger and international group of investors as we seek to become a truly global company.”
About Esports Entertainment Group
Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. Esports Entertainment offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at vie.gg. In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company holds licenses to conduct online gambling and 18+ gaming on a global basis in Curacao, Kingdom of the Netherlands. The Company maintains offices in Malta, Curacao and Warsaw, Poland. Esports Entertainment common stock is listed on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.