Lyle Berman, a legendary Minnesota Businessman and a member of the American Gaming Association’s gaming, hall of fame is getting into the emerging esports gaming industry and is reuniting with one of his previous gaming business in his latest venture.
“eSports is going to explode,” Berman Said. “By everybody’s protection there are more people who will be watching it in a few years than watch the NFL, NBA and baseball combined.”
Black Ridge announced last week it would acquire Allied eSports international and WPT Enterprises from China based Ourgame International holdings. The Minneapolis company will issue about 11.6 million shares, valued at $118 million, to Ourgame, plus additional warrants and $50 million in milestone payments. The debt and equity deal is valued at $213.8 million by Thomson Reuters.
“There are hundreds of millions of people who play eSports on a regular basis throughout the world,” Berman added. “We think that it is an emerging industry that really has got incredible growth potential and we are kind of in on the ground floor.”
The combined revenue for WPT and Allied ESports International will be about $35.1m in 2019 and is expected to grow to $108 million by 2020 and $208 millions by 2021, a company spokesperson said.