Antigua-based eSports company VGambling has announced that it has changed its title to Esports Entertainment Group as it raises new funding and moves closer to the launch of a platform and operational activity.
In a company statement this week the decision to change corporate identity was explained:
* The imminent (June) launch of an eSports online wagering platform;
* Better name recognition among investors and within the eSports industry;
* Improved search engine relevancy on both traditional and social media engines;
* Greater brand recognition as the company embarks on business development programs that include a presence at international trade and industry conferences;
* A strategic plan to extend the scope of operations within the eSport and gaming industry going forward.
Chief executive Grant Johnson also announced that the company has successfully closed its latest round of funding, raising $1.2 million. This follows the announcement in February this year that VGambling had secured a financing commitment of $850,000 through Denver, Colorado based First Capital Ventures and private investors.
“Proceeds of the financing will be used to launch our online Esports gambling platform in June which, upon launch, will be fully licensed and the highest regulated eSports gambling site on the planet,” Johnson claimed.