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Esports Entertainment Group Announces Sale of the Bethard Business and Amendment to Senior Convertible Note

Published

2 years ago

February 21, 2023

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Esports Entertainment Group announced that it has entered into a share purchase agreement (Purchase Agreement) dated February 14, 2023 to sell its Bethard iGaming business, an operator of online casino and sportsbook brands that is licensed in Malta and Sweden.

The total purchase consideration in the Purchase Agreement was determined by the parties to be approximately €9.5 million comprising €1.65 million of cash proceeds payable to the Company at closing, with an additional €6.5 million of purchase consideration attributed to the Company’s release from payment of its contingent consideration liability from the Bethard acquisition. The purchaser of the Bethard business will also assume liabilities of approximately €1.2 million. The terms of sale allow for a cash holdback of €0.15 million which may be retained by the purchaser should liabilities exceed agreed upon amounts in the Purchase Agreement. The sale of the Bethard business is expected to close during the two-week period following the signing of the Purchase Agreement, subject to customary closing conditions.

The Company entered into an Amendment and Waiver Agreement on February 16, 2023 as a condition to the closing of the sale of the Bethard business. The Amendment requires the Company to deposit 50% of the proceeds from the sale of the Bethard business in a bank account in favor of the holder (the Debt Holder) of its Senior Convertible Note, dated February 22, 2022. The Amendment also requires the Company to deposit 50% of the proceeds of any permitted future sale of assets or any subsequent debt or equity offer or sale (a Securities Transaction) and 100% of the proceeds of any additional indebtedness incurred in the future, into such bank account in favor of the Debt Holder, or, at the option of the Debt Holder, redeem amounts under the Senior Convertible Note using such proceeds.

European Gaming Congress 2024 (Warsaw, Poland)

Alex Igelman, CEO of Esports Entertainment Group, said: “I am very pleased at the work that is being undertaken to reduce debt and focus on our core iGaming and esports assets. We remain committed to building a world-class esports gambling operation that is global in reach and that provides esports content and strategic services to those involved in esports gambling, as well as those seeking to enter the market. I am extremely encouraged and pleased with the speed and efficiency in which senior management effectuated these important actions.”

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TESTA debuts TESTA Score, allowing operators to benchmark UX

Published

6 hours ago

June 19, 2025

Adrienn Sarkany

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TESTA, the crowd testing platform for the iGaming industry, has launched its innovative TESTA Score with CasinoCompare.ph, a Philippine-focused online casino affiliate—and the only platform exclusively listing PAGCOR-licensed online casinos.

TESTA Score is a new UX quality benchmark developed by TESTA that shines a light on online casino brands in markets with new regulatory compliance standards.

Using real testers with local devices, IDs and bank accounts, TESTA evaluates each operator’s performance across four key processes – registration, deposit, withdrawal and KYC.

Each process is scored against strict usability parameters such as the number of required input fields, page clicks, lead times for verification and fund arrival, as well as the number of KYC attempts required.

The total possible score is 100, divided across:

The TESTA Score provides objective, player-centric transparency in any market.

With local connectivity, device preferences and regulatory friction in mind, the scoring system reflects the real-world user journey and highlights where improvements are most needed.

This then provides a chance for operators to improve their key flows, especially KYC, and then apply for a re-test to update their published score.

CasinoCompare.ph becomes the first online casino affiliate to deploy TESTA Score, with six Philippine-licensed online casinos now ranked. The site is operated by AFFILI.ph whose aim is to set a new industry standards for transparency, trust, and player confidence.

The six sites include Casino Plus, Desk Game, FBM E.Motion, Bet88, PlayTime and Crazy Win.

While most operators performed well on the core user flows, the KYC process emerged as the main differentiator.

Operators that lacked a working KYC step at withdrawal automatically received a zero in that category, pulling down their overall TESTA Score significantly.

This is how they fared:

Casino Plus led the pack with a total score of 97/100, earning perfect marks in registration, withdrawal, and KYC, and only dropping points on deposit due to a single extra page click.

As well as accessing TESTA Score through their affiliate partners, operators can work directly with TESTA to determine their TESTA Score.

Chris Johnson, TESTA CMO, said: “Born out of frequent client requests for key processes testing, and competitor benchmarking, the TESTA Score measures the parts of the customer journey, outside of game play, that make or break player acquisition and retention.

“Operators can use their TESTA Score to understand where they stand out over their rivals and where there is a gap they need to close.

“It’s great to see that six Philippine-licensed casinos have already used TESTA Score to benchmark their UX and acquisition flows, and we look forward to working with more moving forward, both in the Philippines and other markets around the world.”

The post TESTA debuts TESTA Score, allowing operators to benchmark UX appeared first on European Gaming Industry News.

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Yolo Investments completes raise for €100m Fund II

Published

7 hours ago

June 19, 2025

Adrienn Sarkany

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Yolo Investments has closed fundraising for its flagship Fund II after hitting its €100 million target.

The fund comprises €50 million in external capital, as well as a €50 million commitment from Yolo Group.

It brings together a network of 23 investors, including founders and industry thought leaders, further strengthening the Yolo Investments ecosystem and enhancing the strategic value it can offer portfolio companies.

Fund II has already backed 12 companies across igaming, blockchain and fintech, with notable investments including Dabble, Kraken and Syfe. It expects to make a further 10 investments over the next 12 months.

Tim Heath, GP at Yolo Investments, said: “We’re absolutely thrilled to be closing our raise for Fund II having hit our target. This took place during challenging market conditions, with global VC fundraising facing significantly more headwinds compared with previous vintages. But investors have looked at our previous funds’ track record and the strength of our ecosystem, and have strongly backed us.

“We are humbled by that response as a real vote of confidence, not just in what we’ve built so far, but in where we’re heading next. We will continue to back more brilliant founders and help them scale faster, smarter and with the full power of the Yolo ecosystem behind them.”

Yolo Investments’ Fund II is structured as a Guernsey-registered limited partnership, and is licensed by the Guernsey Financial Services Commission (GFSC).

The post Yolo Investments completes raise for €100m Fund II appeared first on European Gaming Industry News.

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Party Like It’s 3000 BC in Shake Your Mummymaker! at SlotsCapital.lv – Plus a 175% Bonus Up to $1,750

Published

8 hours ago

June 19, 2025

Adrienn Sarkany

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