Connect with us

eSports

MTG Sells ESL Gaming to Savvy Gaming Group for $1.05 Billion

Published

on

Reading Time: < 1 minute

 

Swedish esports and gaming firm MTG has agreed to sell ESL Gaming to Saudi-backed Savvy Gaming Group at an enterprise value of $1.05 billion.

MTG, which owns 91.46% of ESL Gaming, corresponding to $960 million, said it was expecting net proceeds of around $875 million from the deal, including transaction-related costs.

It added that it would return at least 40% of the proceeds to shareholders, while using the rest to strengthen its position in the global gaming market, and continue its “buy and build strategy”.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Following the transaction, MTG will focus fully on accelerating growth in its pure-play gaming business,” MTG, which has a market cap of around 9.76 billion crowns ($1.05 billion), said in a statement.

MTG, which bought ESL and DreamHack in 2015 and merged them under the name ESL Gaming, has acquired several gaming companies in the past year, including Hutch Games and Ninja Kiwi.

It added that Savvy Group, which is backed by the Saudi Arabian government’s Public Investment Fund, was also buying tech platform FACEIT to merge the two companies into a global gaming platform.

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Aquisitions/Mergers

The Chiliz Group acquires OG Esports, reuniting with original co-founders to launch new era

Published

on

the-chiliz-group-acquires-og-esports,-reuniting-with-original-co-founders-to-launch-new-era
Reading Time: 3 minutes

 

  • Chiliz Group acquires 51% of OG Esports, investing to grow the team, expand operations, and strengthen fan and player engagement.

  • Xavier Oswald, a former co-founder and shareholder of OG, becomes CEO, while OG co-founders Johan “n0tail” Sundstein and Sébastien “Ceb” Debs launch a new strategic project consolidating the team’s competitive foundation.

  • Socios.com becomes the exclusive platform for $OG Fan Tokens, $OG will act as the showcase for blockchain-based utility.

The Chiliz Group, the world’s leading blockchain provider for the sports and entertainment industry and operator of Socios.com, today announced it has acquired a 51% controlling stake in OG Esports, one of the most iconic and innovative names in global esports.

Founded in 2015 by legendary Dota 2 players Johan “n0tail” Sundstein and Sébastien “Ceb” Debs, OG is the first team in history to win back-to-back titles at The International. Since then, OG has expanded into Counter-Strike, Honor of Kings and Mobile Legends: Bang Bang, building one of the most successful and culturally significant organisations in esports.

OG has a track record of delivering a fan-driven culture through innovation and launched the $OG Fan Token in 2020. The $OG Fan Token recently became the first esports Fan Token to surpass a $100 million market capitalization, driven by surging global demand for digital fan assets. Having delivered exclusive voting rights, VIP experiences, merchandise, and direct access to the team for fans worldwide, $OG represents a thriving $100m+ digital fan economy.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

As part of the acquisition, Xavier Oswald will take on the role of CEO of OG, guiding the organisation into its next chapter, while co-founders Johan “n0tail” Sundstein and Sébastien “Ceb” Debs will lead a new strategic project consolidating the team’s competitive foundation, driving innovation at the intersection of esports and Web3.

At the same time, Socios.com will become the exclusive wallet and engagement platform for $OG Fan Tokens, establishing $OG as the flagship example of the new fan economy. The token will now showcase how fan assets can evolve – serving as the blockchain layer for tickets, merchandise, in-stadium perks, and digital content, while also integrating real-world assets and club revenues through mechanisms like buybacks to deliver deeper influence and tangible value to supporters.

Through The Chiliz Group’s global network of more than 80 leading sports properties, OG will now be able to expand into new countries and markets, building a larger international footprint and new commercial opportunities. Backed by the financial strength of a global group, OG will become more resilient and sustainable, ensuring long-term stability while focusing on what matters most: players, fans, and innovation.

More details about the acquisition will be released in the coming weeks.

“OG has always been about community and innovation, and since 2020 it has demonstrated that Fan Tokens can create genuine economic value and meaningful engagement,” said Alex Dreyfus, CEO and Founder of Chiliz. “With a $100 million fan token economy already established, OG represents the perfect case study for what’s truly possible when we place Fan Tokens at the centre of the fan economy. This acquisition allows us to showcase the next evolution – Fan Tokens 2.0.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“This marks the start of a bold new era for OG,” said Xavier Oswald, incoming CEO of OG. “With Chiliz as our majority partner, we can scale our teams, grow our global community, and unlock a new dimension of engagement through the $OG Fan Token. We’ve always believed that fans should be at the centre of everything we do, and now we have the tools and the backing to make that vision a reality.”

“With Chiliz, we share a common vision based on strong values: passion, transparency, and the power of communities.” said Johan “N0tail” Sundstein, co-founder and historic figure of OG Esports. “From winning back-to-back Internationals to competing against OpenAI Five in a world-first showcase of human-AI collaboration, OG has always been about pushing boundaries. This alliance will allow us to stay true to our identity while continuing to grow.”

“This agreement marks the beginning of a new competitive cycle,’ added Sébastien “Ceb” Debs, two-time world champion with OG. “We want to once again become a major force on the international stage and inspire a new generation of players and fans. With the support of Chiliz, we now have the means to build an ambitious and sustainable project.”

The post The Chiliz Group acquires OG Esports, reuniting with original co-founders to launch new era appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

eSports

Global Esports Federation Launches its Innovation & Research Centre in Athens

Published

on

global-esports-federation-launches-its-innovation-&-research-centre-in-athens
Reading Time: < 1 minute

 

The Global Esports Federation has launched its Innovation & Research Centre (IRC) in Athens, Greece, in collaboration with Socialinnov, a non-profit organisation dedicated to digital empowerment and social entrepreneurship.

The GEF Innovation & Research Centres are envisioned as collaborative spaces where technology, creativity and innovation converge to unlock human potential in the digital era. They will anchor forward-looking programmes that connect esports with education, wellness and opportunities in adjacent industries.

The Athens IRC anchors this global network, strengthening local ecosystems, enabling cooperation across regions and expanding opportunities in esports, gaming, technology and entertainment.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Thanos Karagrounas, GEF Chief Impact Officer, said: “The launch of our Innovation & Research Center in Athens is a milestone in the GEF’s journey to shape an inclusive and impactful future for esports. By combining Socialinnov’s deep expertise in digital empowerment with the GEF’s international network, we will unlock new opportunities for innovation, education, and investment – with people at the center of everything we do.”

“We are proud to partner with the Global Esports Federation to bring the GEF Innovation & Research Center to Athens. This collaboration reflects our mission to empower individuals and communities with the skills and tools needed to thrive in the digital age. Together, we will cultivate new pathways for youth, educators, and entrepreneurs to engage with technology, esports, and innovation on a global scale,” said Stella Psarrou, Director, Socialinnov.

Leveraging Greece’s growing digital ecosystem and Socialinnov’s expertise in education, youth empowerment and SME support, the Athens IRC will serve as a platform to develop strategies, programmes and investment opportunities focused on responsible gaming, holistic wellness and sustainable career pathways in esports and beyond.

The post Global Esports Federation Launches its Innovation & Research Centre in Athens appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

eSports

EEF Strengthens Ties with Paralympic Leaders

Published

on

eef-strengthens-ties-with-paralympic-leaders
Reading Time: < 1 minute

 

The European Esports Federation (EEF) has strengthened its ties with the Paralympic leaders. On September 2, EEF Secretary General Łukasz Klimczyk and Board Member Karol Cagan, held a meeting with Mr. Andrew Parsons, President of the International Paralympic Committee (IPC), and Mr. Tomas Varga, Executive Committee member at the European Paralympic Committee (EPC). The meeting took place at the headquarters of the Slovak Olympic Committee, following official celebration of 30th anniversary of the Slovak Paralympic Committee.

Discussions focused on exploring opportunities for closer cooperation between EEF, IPC and EPC, particularly in the areas of competition, prevention and educational initiatives. EEF remains committed to strengthening partnerships that support the values of inclusion, fair play and the development of parasport across Europe.

Importantly, esports offers unique opportunities for athletes with disabilities by removing many of the physical barriers present in traditional sports. With accessible technologies and adaptive solutions, esports can provide a level playing field where performance depends primarily on skill, strategy and teamwork.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post EEF Strengthens Ties with Paralympic Leaders appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania