Shares of Esports Entertainment Group, Inc. (GMBL) are rising more than 12 percent or $0.78 in Tuesday's morning trade at $7.13, after the company announced a deal to acquire online sportsbook and casino operator Argyll Entertainment.
Financial terms of the transaction were not disclosed. The company expects closing of the acquisition to occur on or before July 31.
Malta-based Esports Entertainment operates a licensed online gambling company. 2020. Argyll, incorporated in Switzerland, with operational support services in London, UK and Malta, is licensed and regulated by the UK Gambling Commission and the Irish Revenue Commissioners to operate online sportsbook and casino sites in the UK and Ireland, respectively.
Esports Entertainment has traded in a range of $2.40 to $15.75 in the past 52 weeks.
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