Antigua-based eSports operator Esports Entertainment Group (EEG) has announced an additional $600,000 investment in Colorado-based First Capital Ventures, adding to an identical amount that the US firm invested in March last year.
Now’s funding announcement reflects the exercise of warrants held by First Capital and demonstrates that the firm’s continued commitment and confidence in the future of Esports Entertainment Group, the company said in a press release Thursday. .
“As a result of this conclusion we consider this figure increases and that the company’s eSports wagering platform VIE.gg is ideally positioned to capitalize on the market. Affiliate advertising arrangements with VIE have already been signed up with 36 eSports groups, along with 60 eSports streamers representing an audience of eSports viewers which collectively had over 250 million online video opinions in the 30 days before their signing.
“From a business model perspective, we believe the sports publication model utilized by conventional betting sites is basically ill-suited into eSports, although the peer-to-peer model utilized by VIE is excellent for the eSports enthusiast demographic.
“Finally, and perhaps most important to investors, Esports Entertainment Group is now the only pristine, fully reporting public issuer positioned to take advantage from the global eSports explosion using its wagering and championship platform. We’re bullish on the business and look forward to supporting it for years to come. ”
Grant Johnson, President & CEO of VGambling explained that the fresh capital would be deployed in launch EEG’s multi-player mobile and PC video sport championships.
