Esports Entertainment to sponsor new Allied Esports event
Esports betting operator Esports Entertainment Group has entered into a new licensing and sponsorship agreement with Allied Esports Entertainment, the global esports event business that owns the World Poker Tour (WPT).
Under the deal, Vie.gg, Esports Entertainment’s flagship esports betting platform, will serve as title sponsor of Allied Esport’s new Counter-Strike: Global Offensive (CS:GO) tournament.
The debut edition of the Vie.gg CS:GO Legend Series is set to begin next month, with fans able to place bets on the competition though Vie.gg. A total of €50,000 (£44,818/$56,687) in prize money will be on offer to competing teams.
The tournament will be Allied Esports’ sixth edition of the CS:GO Legend Series, but the first to feature a licensing partner and title sponsor. Allied Esports has previously runs events based around Overwatch, League of Legends, Fifa, Call of Duty Blackout and Valorant.
“We’re excited to partner with an industry leader, Allied Esports, as the title sponsor of their newest esports tournament,” Esports Entertainment’s chief executive Grant Johnson said.
“Title sponsorship places the Vie.gg brand front and centre for teams, fans and influencers alike, further accelerating user adoption of the VIE.gg platform."
Allied Esports chief executive Frank Ng added: “The Legend Series has been one of our most successful original tournament brands and we are thrilled to work with Esports Entertainment Group and the Vie.gg platform to add a wagering component that will introduce Allied Esports to new consumers and elevate the brand even further.”
The deal comes after Esports Entertainment this week revealed that it will close its acquisition of online betting and gaming operator Argyll Entertainment by the end of July, after finalising a definitive agreement for the acquisition.
Esports Entertainment has also entered a new partnership with independent capital markets advisor Akur Capital to support its mergers and acquisitions strategy.
In May, Allied Esports posted increased losses and lower revenue for the first quarter of 2020, due in part to the novel coronavirus (Covid-19) pandemic. Revenue for the three months to 31 March amounted to $6.0m, down 3.2% from $6.2m in the opening quarter of 2019.