Esports Entertainment Group Announces Partial Exercise of Over-Allotment Option


Esports Entertainment Group, Inc. (Nasdaq CM: GMBL, GMBLW) (or the “Company”) a licensed online gambling company with a focus on esports wagering and 18+ gaming, today announced that in connection with its previously announced underwritten public offering of 1,980,000 units, the underwriters partially exercised and closed on their over-allotment option and purchased an additional 209,400 shares of common stock from the Company at a price of $4.23 per share. Esports Entertainment Group received additional gross proceeds of $885,762 from the sale of these shares, before deducting underwriting discounts and commissions and other estimated offering expenses.

Maxim Group LLC acted as the lead book-running manager for the offering. Joseph Gunnar & Co., LLC acted as co-book-running-manager for the offering.

The offering was conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-231167) previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC") on April 14, 2020. A prospectus relating to the offering has been filed with the SEC. The offering was made only by means of a prospectus. Electronic copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745 and is available on the SEC’s website at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


Esports Entertainment Group, Inc. is a licensed online gambling company with a specific focus on esports wagering and 18+ gaming. The Company holds a license to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao, Kingdom of the Netherlands and is able to accept wagers from over 149 jurisdictions including Canada, Japan, Germany and South Africa. Esports Entertainment offers fantasy, pools, fixed odds and exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience at In addition, Esports Entertainment intends to offer users from around the world the ability to participate in multi-player mobile and PC video game tournaments for cash prizes. Esports Entertainment is led by a team of industry professionals and technical experts from the online gambling and the video game industries, and esports. The Company maintains offices in Malta. For more information visit

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