Esports Entertainment News: Why GMBL Stock Is Surging 12% Today

Esports Entertainment (NASDAQ:GMBL) news for Thursday concerning positive results from a recent tournament have GMBL stock on the rise.

gamers sitting at computer desks wearing headsets and playing video games
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According to an Esports Entertainment news release, the company saw a massive boost during the two-week VIE.gg CS:GO Legend Series Tournament. That includes newly registered users increasing by 400% and customer deposits going up 300% when compared to the same time last year.

Esports Entertainment also notes that the tournament drew in a large crowd of viewers. That includes the peak number of viewers reaching 98,000 and the total number of unique viewers for the tournament reaching 1.7 million. It also says that more than 1 million hours of the tournament were viewed.

Magnus Leppäniemi, vice president of marketing and head of esports at Vie.gg, said the following about the tournament.

“We are very happy with the results of our first esports tournament sponsorship and the strong uptick in new sign ups and deposits we saw as a result of reaching millions of fans globally. The VIE.gg CS:GO Legend Series provided a great opportunity to support tier 2 and tier 3 teams, a large and important segment of the esports community, and we look forward to continuing our support of these teams in the future.”

Esports Entertainment is an entertainment company that has a focus on esports and betting. It targets individuals over the age of 18 to take part in its platform. It operates out of New Jersey and has licenses for gambling in multiple countries.

GMBL stock was up 12.4% as of Thursday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/esports-entertainment-news-sends-gmbl-stock-soaring/.

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