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Luckbox closes oversubscribed $5.0M CAD financing ahead of TSXV listing

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Leading esports betting company, Esports Limited confirmed its oversubscribed financing closed at $5.0M CAD ahead of an anticipated TSX Venture Exchange (the “TSXV”) listing.

The Company, which provides real-money wagering on competitive video game tournaments to customers in more than 100 countries, anticipates receiving TSXV approval for listing by the fall.

The financing, via a brokered and non-brokered sale of subscription receipts, was closed in connection with a proposed go-public business combination with Elephant Hill Capital Inc.(TSXV:EH.P) (“Elephant Hill”) as capital pool company (CPC) listed on the TSXV, was upsized from the base financing of $2M CAD, despite being conducted during the COVID-enforced lockdown. The subscription receipts sold in the financing will be automatically exchanged for securities in Elephant Hill upon the closing of the proposed go-public business combination with Elephant Hill, which transaction will be the “qualifying transaction” for Elephant Hill pursuant to the policies of the TSXV. Upon the closing of the proposed go-public business combination with Elephant Hill, Elephant Hill will remain listed and all of the security holders of the Company (including those holding subscription receipts sold in the financing) will be exchanged for securities in Elephant Hill, which will retain its listing on the TSXV and will result in the Company being a wholly-owned subsidiary of Elephant Hill.

Among the investors is MLS goalkeeper Luis Robles, who plays for Inter Miami, the franchise co-owned by former Manchester United and Real Madrid star David Beckham.

The brokered portion of the subscription receipt financing was co-led by Gravitas Securities Inc. and Beacon Securities Ltd., along with a syndicate group consisting of Canaccord Genuity Corp., Echelon Wealth Partners Inc., Haywood Securities Inc. and Eight Capital Corp.

The esports betting industry has been among those apparently resilient to the economic damage inflicted by the Coronavirus pandemic, with the Company reporting a 500% increase in betting volume and a 10-fold increase in the number of deposits compared with November 2019.

The Company is now recruiting for five key positions, including a senior marketing role, as it aims to maintain the momentum from a very strong first half of 2020. The Company’s growth plans include rapidly scaling up its global marketing campaign, the acquisition of additional gaming licenses to allow access to additional markets, and the acquisition of an odds provider to be able to offer an unparalleled B2B solution.

In an update to shareholders, the Company’s CEO Quentin Martin said: “The management team and board of directors have been working hard to prepare for the public listing. We have enjoyed positive discussions with the TSXV, completed the Business Plan required for filing, draft financials are complete, with final audit sign-off expected by end of July. Ultimately, we anticipate receiving TSXV listing approval by early October 2020.

“Our management team believes that the esports betting market will continue to grow and that the Company is one of the bookmakers that will be leading the way globally.

“In summary, Luckbox is pleased to have completed a $5.0M financing in connection with its go-public transaction by way of a business combination with Elephant Hill during a challenging period while successfully meeting its Q1 and Q2 roadmap targets which included adding additional languages, user acquisition partners and additional esports titles. We have made tremendous progress in 2020 and look forward to becoming only the second listed dedicated esports betting company on a public exchange.”

 

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Vlad Marinescu Re-Elected as 10th IESF President

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The International Esports Federation (IESF) concluded its 17th Ordinary General Meeting (OGM) in Kuala Lumpur, Malaysia, alongside the 17th World Esports Championship Mobile Legends: Bang Bang (MLBB) Finals. Member federations from around the world gathered to review the federation’s annual progress, adopt key motions, and participate in the 10th IESF Elections, marking a milestone moment in the federation’s governance history.

During the election session, Vlad Marinescu was re-elected as the 10th President of the IESF, securing his second term. His re-election reflects the continued confidence of the membership in his leadership and vision for the future of the World of Esports.

“I am truly grateful for the trust placed in me to continue leading the International Esports Federation,” Marinescu said. “As we mark our 10th election cycle, we remain steadfast in our commitment to unity, transparency, and the sustained growth of the World of Esports.”

Delegates reviewed strategic priorities for the year ahead, including enhanced governance standards, expanded athlete development initiatives, and strengthened international cooperation. Voting on member-submitted motions underscored the federation’s collective commitment to advancing integrity, professionalism, and institutional maturity across the esports ecosystem.

The assembly also elected the IESF Board for 2026, comprising:

Board Members:

  • HRH Prince Omar Bin Faisal – Jordan

  • Afiq Fadhli Bin Narawi – Malaysia

  • Elin Yoojung Moen – Norway

  • Clint Kennedy – United States

  • Flip De Bruyn – Namibia

The OGM concluded as the 17th World Esports Championship MLBB Finals continued, highlighting IESF’s ongoing mission to unite nations through Esports and support athletes, federations, and fans worldwide.

The post Vlad Marinescu Re-Elected as 10th IESF President appeared first on European Gaming Industry News.

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GG.BET launches Bet Builder for a new way to bet

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Customers can now use Bet Builder, a format that lets them build their own set of markets on one match into a single bet with higher odds. Bet Builder is available for both esports and sports events. You can try out the new feature with a deposit bonus of up to 150% and a free bet worth up to $50.

Customers can now place a combined bet on a single match by picking various options for how events in the match will play out. For example, in CS2, customers can choose which team will win on a specific map, how many kills a specific player will rack up, how many rounds will be played on a single map, and so on.

To place a Bet Builder bet, pick an event that hasn’t started yet, press the ‘Bet Builder’ button, put together your selection of markets from those available, get higher combo odds, and finish placing the bet in one click. At this initial stage, GG.BET is offering Bet Builder on football, basketball, hockey, CS2, Dota 2, LoL, and VALORANT, with more sports and disciplines to be added down the line.

“GG.BET has always been known for embracing unconventional markets and elaborate betting options. Bet Builder is there to meet customer demand for more interesting formats in a single match. The ability to make predictions right down to a specific round and any other tiny detail of a match is what gives users variety and improves their skills,” the GG.BET press office explained.

GG.BET is offering customers the opportunity to test out the Bet Builder format with a deposit bonus of up to 150% and a free bet of up to $50.

The post GG.BET launches Bet Builder for a new way to bet appeared first on European Gaming Industry News.

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IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur

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The World Esports Championship 2025 (WEC25) is officially open in Kuala Lumpur, welcoming athletes, fans, and delegations from around the globe. With 19 nations taking part in Mobile Legends: Bang Bang (MLBB), this year’s event stands as the most internationally diverse MLBB competition in IESF history.

After a year filled with national and regional qualifiers and preparations from teams around the world, the world’s top esports athletes have arrived in Malaysia’s capital, Kuala Lumpur. The opening ceremony set the tone for the days ahead, offering fans a first glimpse of the excitement and atmosphere surrounding this year’s championship.

“WEC25 reflects the continued growth of esports as a space for connection, competition, and shared passion,” said IESF General Secretary Boban Totovski. “Bringing together 19 nations for MLBB is a milestone not just for the title, but for the entire esports ecosystem. We are proud to bring this edition of the championship to Kuala Lumpur.”

As the competition officially kicks off, the schedule is fully packed with exciting match-ups among Nations, competing for their flag and country. The best from all over the world will have the unique opportunity to become the MLBB World Champion.

IESF extends its gratitude to the Malaysian government and the Ministry for Youth and Sports, partners, athletes, and global supporters who continue to elevate the championship’s reach and impact.

The post IESF Officially Opens the World Esports Championship 2025 in Kuala Lumpur appeared first on European Gaming Industry News.

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