Esports Entertainment Group’s future may be in the hands of a creditor, as the Bethard operator revealed that its notesholder had still not chosen to pursue redemption in cash after the group defaulted on those notes.
After making a splash with a wave of acquisitions – including Bethard and Argyll Entertainment- the business struggled financially during 2021. In May, the business warned that it may not be able to continue as a going concern after defaulting on some convertible notes issued last year, which had a principal value of $35m (£31.2m/€35.9m).
Now, the business and the holder of these notes must work out the course of action following the default.
