a Canadian iGaming company, paid Loot $14.75 million to buy Bet, a rising star in the esports betting industry.Livestream, the parent business of Bet.
More information on the acquisition, including the $8 million upfront cash payment, the $4 million vendor take-back note, and the remaining amount in Intema shares, is included in a news statement from Intema.
Loot.bet is famous for its wide selection of games, which includes not only online versions of standard casino favorites like blackjack and roulette but also Keno Plinko and European Roulette.
Intema has been making a deliberate effort to break into the fast expanding markets of online slots betting and esports, and this purchase is just the latest in a series of strategic moves undertaken by the company in recent years. The 2021 acquisition of Team Bloodhounds, a Canadian esports group, by Intema stands out.
Loot.Bet on its own, which launched in 2016, has quickly become popular among gamblers. This Curaçao-based company has signed important collaborations with both esports teams and event organizers, and they claim to have a user base of half a million individuals.
Intema will be able to further establish itself in the esports business thanks to the acquisition of Loot.Bet, and more crucially, it will become a trusted name in the booming market of event betting.
According to Intema CEO Laurent Benezra, the purchase would “allow Intema to become a major player in the esports and iGaming sectors.” LOOT.BET is the greatest online betting platform in the world, and it can expand even further with the support of Intema’s developing ecosystem and an Isle of Man license. We can’t wait for the deal to close and the trip to officially begin.