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Greentube entering eSports sector via Hero purchase

The Greentube iGaming subsidiary of Austrian gambling giant Novomatic AG has announced its entry into the eSports sector via the acquisition of blockchain-powered fantasy betting pioneer Hero.
The Vienna-headquartered firm used an official press release to declare that Hero was established in order ‘to disrupt the online betting industry’ with its platform at HeroSphere.gg allowing aficionados to compete against others via their own range of specially-created contests. The Austrian innovator moreover stated that this purchase is set to allow it to ‘significantly diversify’ its offering and ‘venture into the eSports and blockchain sphere for the first time.’
Broad business:
Greentube detailed that the eSports platform run by Hero already has over 300,000 active users while its Heronetwork advance can furthermore be utilized for all types of betting, pooling, poker and fantasy systems. The firm explained that the acquisition also includes the target’s proprietary Herocoin virtual token, which has been designed to ensure all transactions are safe and understandable.
Pioneering purchase:
Michael Bauer, Chief Financial Officer for Greentube, used the press release to pronounce that the eSports platform run by Hero ‘cuts out the middleman’ in permitting aficionados from around the globe ‘to challenge other enthusiasts without the interference of bookmakers’ settings the odds.’
Read a statement from Bauer…
“At Greentube we aim to hold a leading position when it comes to adopting new trends and technology. With Hero’s unique products, we have acquired an innovative and exciting business that will see us move into uncharted territory. The eSports and blockchain space offers a lot of possibility for the gaming sector and will open up new doors for us as a company. We are excited to explore the possibilities that lie ahead together with Hero.”
Confronting convention:
For his part and Paul Polterauer serves as the Chief Executive Officer for Hero and he proclaimed that his firm has always endeavored ‘change the nature of online betting’ by offering technologies and innovations that are ‘completely different.’ He additionally asserted that the company’s eSports products have been formulated to ‘challenge the old concept that the house always wins’ while simultaneously permitting users to ‘build a community that better benefits them.’
Polterauer’s statement read…
“Being acquired by such a renowned company as Greentube is a huge testament to the hard work we have put into developing and evolving our products. Together with Greentube we will be able to reach new heights.”

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Skillz Stock Sizzles on NFL Developer Deal


Posted on: February 4, 2021, 11:04h. 
Last updated on: February 4, 2021, 12:24h.
Mobile games and esports tournament provider Skillz Inc. (NYSE:SKLZ) is on pace for its best day as a publicly traded company after announcing an agreement with the NFL.
Kansas City Chiefs tight end Travis Kelce (left) and quarterback Patrick Mahomes. The NFL has a new esports deal with Skillz. (Image: Arrowhead Pride)The pact is unique compared to previous deals struck between gaming companies and professional sports leagues, in that it’s not about generating awareness of sports betting. Rather, the NFL and Skillz are teaming up to reach global game developers to crowdsource a future mobile esports product. Under the terms of the agreement, the league and the company are hosting a global game developer contest.Competing developers will have the opportunity to develop an NFL-themed mobile game. The game will be powered by the Skillz esports platform and will have joint marketing support from both the NFL and Skillz,” according to a statement.The aim is to leverage the NFL’s status as the most popular domestic sports league with the Skillz platform to create a new esports game.The combination makes sense, because there are more than 2.7 billion active mobile gamers and 10 million developers around the world. The Skillz/NFL developer challenge starts in the second quarter and creators can pitch any genre except for a game that would be a direct simulation of traditional 11-on-11 football.Skillz Stock: Hot New Gaming IdeaSkillz stock is another gaming name born out of a merger with a special purpose acquisition (SPAC). In fact, two of the founders of Flying Eagle Acquisition – the blank-check company Skillz merged with — created the SPAC DraftKings (NASDAQ:DKNG) and executed a reverse merger to become a public company last April.Skillz officially became a freestanding company on Dec. 17 following the transaction that valued the San Francisco-based company at $3.5 billion. Since then, the stock roughly doubled when accounting for today’s more than 22 percent surge and its market capitalization ballooned to $9.12 billion.Five analysts started coverage of Skillz stock over the past month, four with bullish ratings. The consensus price target on the name is $29.80, well below the $38.40 area at which it resides at this writing.In its brief time as a public company, Skillz is catching the eyes of buy-side investors, too, joining the rosters of some well-known exchange traded funds (ETFs).NFL Betting on Mobile Gaming GrowthConventional wisdom holds that professional sports leagues are warming to regulated sports wagering because the industry is growing and it’s an avenue for bolstering fan engagement.However, the forecasts for esports and mobile/social casinos are staggering. Market observers believe that could be a $150 billion-plus segment by 2025.Total esports viewership is expected to grow at a 9% compound annual growth rate (CAGR) between 2019 and 2023, up from 454 million in 2019 to 646 million in 2023,” according to Insider Intelligence forecasts.By that year, esports television viewership could top all US professional leagues except the NFL.As for the mobile side of the equation, the NFL may have the right partner in Skillz. The company’s users spend 63 minutes a day playing its games — twice the industry average.Additionally, the Skillz retention rate for customers playing a game for at least a month is 24 percent higher than that of its rivals. Nearly a third of Skillz users playing free games ultimately become paying customers, according to the company.

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