Newark, New Jersey--(Newsfile Corp. - May 6, 2021) - Esports Entertainment Group, Inc. (NASDAQ: GMBL) (or "EEG"), an esports entertainment and online gambling company, today announced signing a binding letter of intent to acquire Holodeck Ventures Inc's esports content and media business ("Holodeck Media"), through the acquisition of certain assets, including its staff, production studio and all intellectual property. Paul Dawalibi will join EEG as Executive Vice President of EEG Media, a new division that will focus on creating esports betting and entertainment content and affiliate marketing.

"This is a major step forward for Esports Entertainment Group, placing us in a position where we own and control our content platform as part of executing on our Play, Watch, Bet market strategy" commented Grant Johnson, CEO of Esports Entertainment Group. "With this transaction, we're also gaining a world-class creative team with specific expertise in esports, along with market leading properties like "The Business of Esports''.

Holodeck Media is a dynamic and entrepreneurial content studio focused on esports. Paul Dawalibi, CEO of Holodeck Media, commented: "I was extremely impressed when I first interviewed Grant on the Business of Esports podcast. I immediately realized the incredible potential of the EEG business. We are delighted to join EEG to build together the best and most engaging esports content and betting platform."

"As leaders in building engaging and exciting esports content, the Holodeck Media team is a welcome addition to Esports Entertainment Group and will enable us to take the player experience to new heights, ultimately creating best-in-class destinations for esports fans and bettors. By leveraging content to drive betting and magnify the value of every customer in the EEG universe, we gain a significant competitive advantage and build a moat around our business" stated Grant.

Global esports revenues are expected to grow over 16% year-on-year to $3 billion by 2025, while the global esports betting market is forecast to reach $17.2 billion by year end.

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 & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

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