Columbia Pacific Advisors‘ business finance strategy, CPBF, a direct lender to non-sponsored and sponsor-backed companies, delivered a $30 million senior secured term loan to Esports Technologies, a Las Vegas-based iGaming technology company.
Esports Technologies used proceeds of the loan to acquire the business-to-consumer assets and certain related operations of Aspire Global, an online casino and sportsbook company, in a $75.9 million transaction. The acquired brands include Karamba, Hopa, Griffon Casino, BetTarget and Dansk777. With the acquisition, Esports Technologies gained access to gaming licensing in Tier 1 regulated markets including the United Kingdom, Germany, Ireland, Malta and Denmark.
“We are pleased to welcome Aspire’s portfolio of business-to-consumer online casino and sportsbook brands to Esports Technologies,” Aaron Speach, CEO of Esports Technologies, said. “EBET is on the leading edge of bringing the spreads, market depth and speed to esports wagering that bettors have come to expect from online wagering on traditional sports. We look forward to introducing these capabilities to esports fans in several of the world’s largest regulated markets through this acquisition.”
“This transaction demonstrated the dexterity of CPBF. With borrower operations on five continents and rigid timelines imposed by a M&A process with two public companies, we are pleased that CPBF could deliver for all parties,” Lawrence Litchfield, director of business development for CPBF, said.
