Esports Entertainment Group, a company that facilitates esports betting, has signed a new licensing and sponsorship deal with Allied Esports Entertainment. Allied Esports Entertainment is a global esports event organizer that owns the World Poker Tour (WPT).
The main esports betting platform of Esports Entertainment Group, Vie.gg, will be the primary sponsor of Allied Esports’ upcoming Counter-Strike: Global Offensive (CS:GO) competition.
The first Vie.gg CS:GO Legends Series will begin next month, allowing fans to wager on the matches through Vie.gg. A total of €50,000 (£44,818/$56,687) in prize money will be awarded to the competing teams.
This will be the sixth CS:GO Legends Series hosted by Allied Esports, but it will be the first to feature a licensed partner and main sponsor. Allied Esports has previously held events for Overwatch, League of Legends, FIFA, Call of Duty: Black Ops, and Valorant.
Esports Entertainment Group, headed by CEO Grant Johnson, expressed enthusiasm about their collaboration with Allied Esports, a prominent figure in the industry, as the main sponsor for their upcoming esports competition.
This title sponsorship will prominently display the Vie.gg brand to teams, enthusiasts, and opinion leaders, propelling the adoption of the VIE.gg platform.
Frank Ng, the leader of Allied Esports, shared his excitement about the partnership, stating that the Legend Series, one of their most successful original tournament brands, will benefit from the inclusion of a betting element through the collaboration with Esports Entertainment Group and the Vie.gg platform. This addition will attract new customers to Allied Esports and enhance the brand’s standing.
Esports Entertainment recently declared that they will finalize their acquisition of Argyll Entertainment, an online betting and gaming operator, by the end of July, having finalized the acquisition agreement. This agreement follows Esports Entertainment’s establishment of 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 initial three months of 2020, partially attributed to the COVID-19 pandemic. Revenue for the period ending March 31 reached $6 million, representing a 3.2% decline from the $6.2 million recorded in the first quarter of 2019.