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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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S8UL Esports Secures iQOO as Title Sponsor for its Pokémon UNITE and MOBA Legends 5v5 Rosters

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S8UL Esports, a global name in esports and gaming content, has onboarded high-performance smartphone brand iQOO as the Title Sponsor for its PokĂ©mon UNITE and MOBA Legends 5v5 rosters. With this strengthened alliance, iQOO deepens its commitment to supporting India’s top esports talent while S8UL further accelerates its multi-title expansion ahead of a landmark competitive season.

iQOO has supported the growth of Indian esports for several years, working closely with top teams and major tournaments. Its continued association with iQOO SOUL, one of India’s leading BGMI rosters, has contributed to the team’s strong performances, including its recent win at the Chennai Esports Global Championship 2025.

Extending this support to S8UL’s newly signed rosters, the brand will equip athletes with its powerful, gaming-optimized smartphones to enhance their training and tournament preparation. As part of the partnership, the iQOO logo will feature prominently on the front of the team jerseys, and both rosters will now compete under the names iQOO S8UL PokĂ©mon UNITE and iQOO S8UL MOBA Legends 5v5.

“iQOO has been with S8UL for a long time, starting with our BGMI team, and their support has played an important role in our journey. Extending this partnership to our PokĂ©mon UNITE and MOBA Legends 5v5 teams is a natural next step as we grow across more titles. Our focus at S8UL is to build strong, well-prepared rosters in every game we enter, and working with a partner like iQOO helps us give our players the tools they need to compete with confidence in India and internationally.,” said Animesh Agarwal, Co-founder and CEO of S8UL Esports.

S8UL’s PokĂ©mon UNITE team, led by captain Manmohan Singh (AllMight) and comprising Rahul Sharad Lavhate (Kyurem), Deep Patel (Snowyy), Adnan Badshah (Badshahh), and Rudra Narayan Nayak (ReX), is widely regarded as the top roster in the South Asia region. The team has claimed three regional championships in the last three years and has consistently represented India on the international stage at the PokĂ©mon UNITE World Championship.

The organization’s newly signed MOBA Legends 5v5 roster arrives with a wealth of experience and an impressive track record across India’s community-led tournaments. The team includes in-game leader Mohammad Saad (Apex), Abhijeet Katkar (Abhi), Mehta Jay (J), Chirag Singh (Radium), Debasish Sana (Anti) and Anush N (Fear). Apex notably competed at the MLBB Mid Season Cup 2024 at the Esports World Cup, which featured a staggering USD 3 million (approx. INR 26.7 crore) prize pool.

The enhanced partnership with iQOO comes at a time when S8UL is rapidly scaling its multi-title presence. Earlier this year, S8UL became the first and only Indian organisation selected for the prestigious Club Partner Program of the Esports World Cup 2025, placing it among the world’s elite esports organisations.

On the content front, the organization recently won the ‘Esports Content Group of the Year’ for the fourth time in a row, while Co-Founder Animesh “8Bit Thug” Agarwal earned the title of ‘Esports Personality of the Year’ at the Esports Awards 2025, underlining the organisation’s unmatched influence across both esports and creator ecosystems.

By bringing two high-potential rosters under the iQOO S8UL banner, the organisation reinforces its drive to build winning line-ups across every title it enters. The newly branded iQOO S8UL PokĂ©mon UNITE roster will be the first to step into action, competing at the PokĂ©mon UNITE Asia Champions League 2026 – India from November 29.

The post S8UL Esports Secures iQOO as Title Sponsor for its Pokémon UNITE and MOBA Legends 5v5 Rosters appeared first on European Gaming Industry News.

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Esports Nations Cup Confirms New Official Publishing Partners

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Chess.com, MOONTON Games, and SNK join the ENC alongside Electronic Arts, Krafton, Tencent, and Ubisoft, to strengthen the foundation of the world’s first international, nation-based competition at this scale

The Esports World Cup Foundation (EWCF) announced the addition of Chess.com, MOONTON Games and SNK for the inaugural Esports Nations Cup (ENC), a landmark tournament where the best esports players in the world will compete for the honor of representing their countries. The ENC introduces national pride to the global esports stage in a recurring format and is the first event of its kind at this scale.

Chess.com, MOONTON Games and SNK join as Official Publishers, alongside Founding Publishers and video game companies EA, Krafton, Tencent, and Ubisoft – the core partners developing the foundational structure of the ENC – bringing with them their iconic titles, global reach, and player communities to enhance the first Esports Nations Cup.

The three new publishers and all forthcoming Official Publishers will co-design qualification paths and competition formats for their respective titles — ensuring integrity, competitive relevance, and a consistent global structure.

The EWCF and its Founding Publishers continue to co-develop the ENC to establish the tournament’s foundational framework, structure, and format from inception, representing a deeper level of strategic partnership and commitment than other publishers.

“By partnering closely with publishers, we can make the Esports Nations Cup truly player-centric, and give players the opportunity to represent their country in the games that define their careers,” said Ralf Reichert, CEO of the Esports World Cup Foundation. “With the seven partners announced so far as close collaborators, we can activate players worldwide and deliver a Nations Cup that feels earned for players and real for fans, and build a stage that national teams can aspire to for years to come.”

As the newest addition to the EWCF portfolio, the Esports Nations Cup builds on the momentum of the Esports World Cup — the world’s largest multi-title esports event — and extends its mission to a new layer of global competition. While the Esports World Cup unites the best clubs, the ENC unlocks a new frontier powered by national identity and regional representation.

The ENC will feature national teams from all major regions – including North America, South America, Europe, Middle East, Africa, Asia and Oceania – competing in both team-based and solo-player formats. A multi-layered qualification model will balance competitiveness and inclusivity: combining global rankings, regional qualifiers, and wildcard entries, including solidarity placements, to ensure a broad and representative competitive stage in every game.

The Esports Nations Cup will debut in Riyadh, Saudi Arabia, in November 2026, before moving to a rotating host model, bringing national esports teams to fans and cultures worldwide. Held every two years, the ENC will provide a dependable structure for players and esports organisations, encouraging long-term investment in national team programmes.

Additional information about the Esports Nations Cup will be released in the coming weeks.

The post Esports Nations Cup Confirms New Official Publishing Partners appeared first on European Gaming Industry News.

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Compliance Updates

Stake joins ESIC as official anti-corruption partner

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The Esports Integrity Commission (ESIC) is pleased to announce that Stake has joined as an Official Tier 1 Anti-Corruption Partner.

As a global entertainment and technology brand, Stake’s collaboration with ESIC underscores a shared commitment to strengthening integrity frameworks and supporting fair competition across the esports ecosystem.

ESIC’s Anti-Corruption Supporter program brings together key industry stakeholders who contribute directly to the detection, analysis, and investigation of suspicious betting activity. Through data sharing, operational cooperation, and collaborative monitoring, the program enhances ESIC’s capacity to identify and address potential issues in real time.

As part of Stake’s Anti-Corruption Partner role, Stake will contribute to ESIC’s integrity monitoring network, helping advance the Commission’s efforts to ensure transparency, accountability, and sustainability within the global esports industry. This collaboration reinforces both organisations’ commitment to safeguarding the credibility and long-term development of competitive gaming worldwide.

Stephen Hanna, CEO of ESIC, commented: “The addition of Stake to ESIC’s Anti-Corruption Supporter network reinforces the sentiment that integrity is a shared responsibility. ESIC’s Anti-Corruption Supporter program relies on the active collaboration of partners like Stake, whose operational insights contribute directly to our ability to identify and mitigate integrity threats. Together, we are building a stronger foundation of trust and accountability that supports the sustainable growth of esports worldwide.”

Jarrod Febbraio, Director of Stake, commented: “This partnership formalizes Stake’s commitment to protecting integrity and transparency across the global esports ecosystem. As the world’s leading online-first betting operator, supporting the industry is central to our strategy and our scale makes this collaboration with ESIC essential to safeguarding its integrity. Together, we’re ensuring the ecosystem remains fair, transparent, and trusted by fans and participants worldwide.”

The post Stake joins ESIC as official anti-corruption partner appeared first on European Gaming Industry News.

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