Home > Strategy > M&A > Esports Entertainment Group completes $30m Lucky Dino acquisition

Esports Entertainment Group completes $30m Lucky Dino acquisition

| By
Esports Entertainment Group (EEG), through its Malta-licensed subsidiary Esport Entertainment (Malta), has completed the acquisition of online casino operator Lucky Dino Gaming Limited in a deal worth around $30m (£21.5m/€24.9m).

The Malta-licensed Lucky Dino was advised in the acquisition by RB.capital.

By acquiring Lucky Dino’s business assets, Esports Entertainment Group now has access to its own casino platform, which the company said offers impressive simplicity, scalability and flexibility.

Lucky Dino’s proprietary technology stack includes affiliate marketing software, payment servers, and a CRM system with a gamification and loyalty engine, offering automated player management.

“Over the past five years, Lucky Dino has evolved from a single brand white-label casino operator into a multi-brand, class-leading casino operator and technology business,” said Grant Johnson, chief executive of EEG.

“In addition to further strengthening our tech stack, Lucky Dino’s assets will give us a substantial foothold in multiple new jurisdictions across Europe, particularly in Scandinavia where esports are extremely popular, and with Lucky Dino’s 25k monthly active casino players we will have tremendous cross-selling opportunities with our SportNation and VIE.bet betting platforms.”

Johnson went on to describe Lucky Dino’s growth record in recent years, reporting an 86% compound annual growth rate on revenue for the five years to June 30, 2020.

Ultimately, he said, the company will aim to bring Lucky Dino’s online casino platform to US markets in the future, alongside its VIE.bet esports offering.

EEG announced the acquisition in December last year, with the $30m fee to be financed through a debt facility produced by the company.

It is the company’s latest acquisition completed this year, after finalising a deal for esports event organiser Esports Gaming League (EGL) in January.

Later that month, EEG finalised a binding agreement for the acquisition of two brands, Helix eSports and ggCircuit.

Helix eSports owns five esports centres and also operates Genji Analytics, an analytics provider in the esports sector, while ggCircuit is a B2B software provider that supplies cloud-based management for LAN centres, a tournament platform and integrated wallet and point-of-sale solutions for enterprise customers.

Subscribe to the iGaming newsletter