Entain Acquires eSports Betting Startup Unikrn

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on August 13, 2021

eSports betting startup Unikrn has announced on Thursday it has reached an agreement with international sports betting and gambling company Entain to sell its Esports wagering technology assets.

As the eSports industry continues to grow, especially after the Covid19 pandemic, Unkirn has established itself as a leader of the eSports gambling industry, winning several consecutive EGR eSportsbook of the Year awards to settle a new record.

The eSports betting startup has raised over $41 million in funding since being founded back in 2014 while also establishing important partnerships with members of the cryptocurrency industry. Now, the startup will be providing Entain with all of its technology, a decision which Unkirn CEO and co-founder Karl Flores referred to by saying:

“Unikrn was built on the efforts of true believers. From the beginning, we knew that gaming is the future of entertainment and that, with special attention, wagering could give gamers and esports fans more excitement in their passion. We’re proud of what we’ve built with our partners, investors, and global team, and can’t wait for Entain to empower us for round 2!”

As a result of the acquisition, Unikrn will be temporarily disabling its services until 2022. During this hiatus, users will be required to withdraw their funds while the team develops new features and improvements for the platform, as well as “additional off-platform assets” the startup expects to disrupt the gaming space with.

Entertain expects that this acquisition could result in an additional $20 billion in revenue in the near future as the company’s second-quarter earnings surpassed expectations. Entertain CEO Jette Nygaard-Andersen referred to these expectations by stating:

“We can triple our business here, just looking at how this market will multiply. And it’s all about more spent, more engagement, more fun for the customers.”

Esports and gaming have grown exponentially over the past years, becoming some of the dominant industries in the technology sector. The eSports industry, specifically, is set to surpass $1 billion in revenue for the first time this year, with projections pointing to $1.8 billion by 2022.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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