NEW YORK, Dec. 14, 2021 /PRNewswire/ — The eSports industry is a young, yet widely popular market. Since the pandemic begun, the strength of this market has made itself known. Overall, an increasing number of individuals watch eSports videos and tournaments, as these activities have become rapidly more accessible due to increasing connectivity and the expansion of reach and coverage. In addition, broadcasters operate various sites to broadcast live coverage of competitions and their own games. As a result, fans can easily attend their favorite tournaments and connect with their favorite eSports players. Additionally, viewership and broadcasters on these platforms have increased significantly in the recent past. Furthermore, on a global scale, the eSports market size reached USD 1.16 Billion in revenues back in 2020 and is expected to grow at an impressive CAGR of 20.7% to reach USD 5.19 Billion by 2028, according to latest analysis by Emergen Research. Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX), Esports Technologies, Inc. (NASDAQ: EBET), DraftKings Inc. (NASDAQ: DKNG), Activision Blizzard, Inc. (NASDAQ: ATVI)
A major spin-off segment of the eSports industry is betting. The demand for online gaming and online betting is high in large part thanks to technological advancements, ease of access and use, as well as a friendlier regulatory framework in many parts of the world. Overall, “the increasing popularity of video games is expected to drive the esports market size. The online gaming market is growing at a healthy pace due to factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming. Furthermore, the growing mobile penetration and increased internet access are expected to fuel the esports market size,” according to Valuates Reports.
Intema Solutions Inc. (TSX-V: ITM) (OTC: ITMZF) just announced breaking news regarding, “the creation of Generationz Gaming Entertainment Inc. (“Generationz”), a new U.S. subsidiary located in Chicago, Illinois, led by gaming veteran CEO William (Bill) Foss.
Generationz has signed a letter of intent (the “LOI”) with Wild Rose Entertainment (“Wild Rose”) to award Generationz a LOOT.BET sports wagering skin. The LOI will be contingent on, among other things, the negotiation of a definitive agreement, successful certification of the LOOT.BET betting platform by Gaming Laboratories International and obtention of a gaming license from the State of Iowa Racing and Gaming Commission.
‘We are thrilled to welcome Bill to the Intema team and are impressed with what he has managed to accomplish in a very short period of time,’ said Laurent Benezra, President and CEO of Intema. ‘The LOI with Wild Rose is just the beginning of what the LOOT.BET platform could bring to Intema once its acquisition is finalized.’
‘As CEO of Generationz, I eagerly look forward to this next chapter of my career and to using my gaming knowledge and contacts to create a successful and profitable company,’ said Bill Foss, CEO of Generationz. ‘Wild Rose has three establishments in the State of Iowa and a solid reputation in the state’s gaming community, …….