Esports Entertainment Group dodges delisting, considers abandoning igaming, confirms CEO exit

Esports Entertainment Group dodges delisting, considers abandoning igaming, confirms CEO exit

Article brief provided by iGaming Business
  • Robert Fletcher, iGaming Business
December 8, 2022 5:58 PM

Operator Esports Entertainment Group (EEG) will consider a sale of its remaining igaming business, and also confirmed the exit of chief executive Grant Johnson.

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Esports Entertainment Group has faced a turbulent time in recent years, with brand closures, a debt default and large operating losses. In May, within the business’ quarterly financial report, EEG said that there had been “substantial doubt” about its ability to continue as a going concern for a least a year.

In October, the group then announced that it was effectively at the mercy of an unnamed creditor after the business defaulted on its debt.

Earlier this week, the business revealed it had escaped delisting, but must drastically increase its share price by February to remain on the Nasdaq exchange.