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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.

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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.

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“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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eSports

Four Countries Shortlisted to Host GOTF 2027

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Phygital International (PI), the exclusive rights holders and custodians of The Games of the Future (GOTF), announced that Brazil, Serbia, South Africa, and Uzbekistan are the shortlisted applicants to host GOTF 2027. The Games of the Future is the world’s leading phygital sports tournament, bringing together sports and esports athletes from around the world.

With the UAE set to host GOTF 2025 and Kazakhstan in 2026, the competition for the 2027 edition has drawn significant interest from nations eager to position themselves as leaders in the world of phygital sports.

Nis Hatt, CEO of Phygital International, said: “We received bids from right around the world which highlights the growing awareness and passion for phygital sports globally. We would like to thank all the nations who bid to host The Games of the Future 2027 and are pleased to announce that Brazil, Serbia, South Africa, and Uzbekistan have been selected as the nations shortlisted as potential hosts.”

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Following further evaluations and detailed assessments of each finalist’s proposal, the final decision on the host country for GOTF 2027 will be announced in the summer of 2025.

The post Four Countries Shortlisted to Host GOTF 2027 appeared first on European Gaming Industry News.

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Valorant Added to Hero Esports Asian Champions League

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The HERO ESPORTS Asian Champions League (ACL), Asia’s premier multi-title esports tournament hosted by Hero Esports, has officially announced the addition of VALORANT to its inaugural lineup.

Previously, ACL unveiled six game titles: Dota 2, Counter-Strike 2 (CS2), Honor of Kings, Teamfight Tactics, Delta Force, and Crossfire. With VALORANT joining the roster, the total number of games now stands at seven, with more titles expected to be announced soon.

Through continued collaboration with the Esports World Cup, ACL has revealed that the champions of the ACL CS2 and Honor of Kings Tournaments will secure direct entry to the Esports World Cup. Further collaborations on the remaining titles of the ACL are anticipated.

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The ACL VALORANT Tournament will be the only international-level VALORANT tournament held in China during the first half of 2025, attracting top teams from overseas. The Final of the event will take place offline in Shanghai. The event will use world-class production and cutting-edge live broadcasting technology to enhance audience experience.

The ACL is set to take place in the first half of 2025, with the Finals of the ACL CS2 Tournament and Honor of Kings Tournament scheduled for May. The ACL will have a total prize pool of $2 million.

Jonny Wang, CEO of the Asian Champions League, said: “We are excited to announce the addition of VALORANT to the ACL. Our ambition is to make ACL into a truly comprehensive tournament, providing a larger stage for players and teams across various competitions while delivering more exciting content for our audience.”

Danny Tang, Co-Founder and CEO of Hero Esports, said: “We are pleased by the progress of the ACL and its ability to attract top teams and titles to compete across Asia. We look forward to the continued collaboration between Hero Esports, ACL and the Esports World Cup Foundation, which is testament to our shared ambition to shape and empower esports globally.”

The post Valorant Added to Hero Esports Asian Champions League appeared first on European Gaming Industry News.

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Esports World Cup Foundation Announces Strategic Partnership with Tencent

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Partnership to drive EWC’s expansion in China, leveraging Tencent E-sports’ networks and expertise to connect Chinese esports with EWC’s  global ecosystem

The Esports World Cup Foundation (EWCF) announced a partnership with Tencent, making Tencent E-sports the EWCF’s strategic partner in China to drive the expansion of the Esports World Cup’s presence in the region. This partnership marks a significant milestone in the EWCF’s purpose to unite global esports fans under one competitive umbrella and underscores its commitment to integrating the world’s most important and rapidly growing esports market into the Esports World Cup platform. The agreement was formalized at the Empower Esports Worldwide Series – The Esports Operation and Technology Session in Shenzhen, China.

The collaboration will establish a dedicated Development Team to enhance EWC’s visibility, engagement, and industry collaboration in China, while leveraging EWC’s and Tencent E-sports’ networks and expertise to connect Chinese esports with EWC’s global ecosystem. Tencent E-sports will provide marketing expertise, strategic consulting, and operational support to deliver diverse content and experiences.

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“The Esports World Cup has created a global stage for competitive gaming, demonstrating its influence not only in China but across the world,” said Mars Hou, Vice President of Tencent Games and General Manager of Tencent E-sports. “Through this partnership, we are committed to elevating EWC’s presence in China and integrating our esports industry with the world’s largest competitive gaming event. We look forward to deepening our collaboration with EWCF to push esports forward on a global scale.”

“The Esports World Cup’s purpose is to create a global platform for esports and gaming fans worldwide, and investing in key growth markets for esports is a core pillar of our mission,” said Thamer Al Shuaibi, Chief of Staff at the Esports World Cup Foundation. “China plays a critical role in this vision, and Tencent’s leadership in gaming and esports positions it as an essential partner. By combining our expertise, we will continue to strengthen esports as an industry, providing new opportunities for Chinese players and Clubs, and bringing the best of the Esports World Cup to Chinese fans.”

Esports World Cup 2025 will once again unite gaming and esports communities in Riyadh, Saudi Arabia, for a global competition that will crown the next Esports World Cup Champion. The tournament’s unique cross-game format will reward Clubs and players competing for a life-changing prize pool in a mix of platforms and genres, bringing together esports’ best players, Clubs and games under one banner in the largest-ever celebration of esports.

The post Esports World Cup Foundation Announces Strategic Partnership with Tencent appeared first on European Gaming Industry News.

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