Esports Entertainment Group Submits Transactional Waiver to New Jersey Division of Gaming Enforcement

·3 min read

Newark, New Jersey--(Newsfile Corp. - October 28, 2021) - Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the "Company") is pleased to announce that its transactional waiver for the New Jersey Division of Gaming Enforcement (or "DGE") has been submitted. Once approved, it would allow the Company to begin betting operations in the Garden State.

"New Jersey sports betting reported the first $1 billion handle in September alone and it shows no signs of slowing down anytime soon," said Grant Johnson, CEO of Esports Entertainment Group. "The transactional waiver is one of the final steps in us being able to go live and bring the exciting world of esports betting to the state of New Jersey."

In preparation for the issuance of its New Jersey gaming license, the Company opened an office in Hoboken at the beginning of September. In the Company's October earnings call, it was announced that Q4 revenue was up 63 percent from Q3 and there was a significant increase in stockholder equity to $74.8 million in FY2021.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:
U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101024

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