Esports Entertainment Group (NASDAQ: GMBL) announced a 400% growth in newly registered users, sending its share price surging 10% higher premarket.
The online gambling company that focuses on esports betting and gaming stated that its user growth and a 300% rise in customer deposits came during the two weeks of the VIEgg CS:GO Legend Series Tournament.
GMBL’s partner, Allied Esports (NASDAQ: AESE) saw its unique viewers rise to 1.7 million for the tournament which ended on the 13th of September.
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According to GMBL’s press release, the two-week tournament is the “most-watched Legend Series event since the tournament series was created in 2017.”
“With a 400% increase in new users and 300% increase in deposits, we’ve clearly demonstrated there is demand for our platform. This was a great start to our marketing efforts, and we’re excited to pursue similar opportunities moving forward,” said Grant Johnson, CEO of Esports Entertainment group.
GMBL stock price…
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Esports Entertainment Group (GMBL)
Shares of GMBL are currently trading 10.5% higher at $4.32 per share. However, they are still down over 40% in the last three months.
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
