Movers and SHAKERS
Esports Entertainment Group, Inc. (GMBL)
Initiating Coverage: A Stake In Fast Growing Esports
Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company's principal business operations include design, develop and test wagering systems.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Fast growing industry. The esports audience is growing rapidly, with industry sources forecasting global growth of 11.7% in 2020 to 495 million. We believe that esports is following the patterns of the traditional sports industry, with growth expected in live, in person tournament events (to return following the Covid pandemic), broadcast rights (including streaming and televised), advertising and sponsorships, and finally, wagering.
Among first mover in esports betting. With a large and growing fanbase, we believe that esports betting will follow. Notably, the fanbase is young, an average age of 26, and affluent, with an average income of $90,000. Notably, there is very little overlap with traditional sports interests. As such, we believe that the esports gambling industry is attractive and is unmet by traditional sports ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.