Esports Entertainment eyes further M&A with Akur Capital

8 July 2020

Esports betting operator Esports Entertainment Group has entered into a new partnership with independent capital markets adviser Akur Capital to support its ongoing mergers and acquisitions strategy.

Under the arrangement, Akur Capital will now serve as Esports Entertainment’s advisor for all M&A activity related to the online gambling sector.

Akur Capital is a cross-border M&A advisory business that specialises in both the igaming and sports betting sectors.

‘We just signed with Akur and are already evaluating multiple potential M&A opportunities they’ve introduced to us,” Esports Entertainment chief executive Grant Johnson said.

“The Akur team has years of igaming and gambling experience and an extensive network of industry contacts," He explained.

"As the first US-based igaming company to list on Nasaq, we’re in a great position to capitalise on these highly fragmented markets and believe Akur will prove to be a valuable partner in our ongoing success.”

It comes after Esports Entertainment yesterday (7 July) revealed that it would close its acquisition of online betting and gaming operator Argyll Entertainment by the end of July, after finalising a definitive agreement for the acquisition.

This followed an announcement in May that the operator had signed a binding letter of intent to acquire Argyll’s parent company LHE Enterprises. The terms of the deal have not been disclosed.

Johnson described the agreement as a “major milestone” for the business.