Esports Technologies received a $30m loan from Columbia Pacific Advisors for its acquisition of Aspire Global’s B2C assets
Esports Technologies received a $30m loan from Columbia River Pacific Advisors for its acquisition of Aspire Global’s B2C assets.
The lender’s business organisation finance strategy, CPBF, delivered the senior secured full term loan to the Las Vegas-based esports wagering company, facilitating its $75.9m purchase of Aspire brands Karamba, Hopa, Griffon Casino, BetTarget and Dansk777.
Their acquisition saw Esports Technologies take in get at to several tier-one European markets, including the UK, Germany, Ireland, Malta and Denmark.
Lawrence Litchfield, CPBF’s Director of Business Development, said: “This dealings demonstrated the sleight of CPBF. With borrower trading operations on quintet continents and strict timelines imposed by an M&A cognitive process with II public companies, we are proud of(p) that CPBF could save for all parties.”
Columbia Pacific Ocean Advisors manages $3.4bn of alternative assets, and through CPBF, provides direct financing to rising and middle-market companies crossways a liberal lay out of sectors.
Esports Technologies meanwhile, which trades on the Nasdaq as EBET, signed the accord with Aspire Global inwards Oct as constituent of its recent expansion plans. Of the tot totality owed, $58.3m was to follow paid inwards cash, which capital of South Carolina Pacific’s loan helped to cover.
“We are proud of(p) to welcome Aspire’s portfolio of business-to-consumer online cassino and sportsbook brands to Esports Technologies,” said Aaron Speach, Esports Technologies’ CEO.
“EBET is on the leading sharpness of bringing the spreads, securities industry depth and swiftness to esports wagering that bettors experience follow to await from online wagering on traditional sports. We looking forwards to introducing these capabilities to esports fans inward several of the world’s largest regulated markets through this acquisition.”