Hall of Fame Resort & Entertainment (HOFV) Announces Partnership with Esports Entertainment Group (GMBL)

Hall of Fame Resort and Entertainment Company (“HOFV”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football and the owner of the Hall of Fame Village powered by Johnson Controls (the “Destination”), and Esports Entertainment Group (“EEG”) (NASDAQ: GMBL), a full-stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports, today announced a partnership that will bring esports to the Destination.

EEG will now become the official esports provider for the Village and will operate a Helix eSports entertainment center, a dynamic interactive esports complex as part of the retail and entertainment offerings at the destination, joining Topgolf Swing Suites and Don Shula’s, among others. This new location, which is slated to open in mid-2022, will serve as a practice, competition and tournament space for a variety of esports activities and events and will allow HOFV to benefit from the strong demand for esports worldwide. In addition to the location, this new partnership allows for the consideration of additional growth in several other business lines, including the potential for esports betting and fantasy sports betting as legislators continue to entertain the opportunity to legalize sports betting within Ohio over the next few months.

“With the popularity of esports and its continued upwards trajectory, we are thrilled to partner with the highly respected EEG to offer fans a new state-of-the-art facility at the Village,” said Michael Crawford, President & CEO of HOFV. “Having an EEG-powered esports complex as part of our development on campus adds another compelling opportunity for gaming enthusiasts and guests to engage in virtual environments as well as offering us the ability to draw in fans from all over the world – both in person and virtually – providing us with strategic growth opportunities within our company’s gaming vertical.”

“We are excited to work with HOFV to bring esports to the Hall of Fame Village powered by Johnson Controls,” said Grant Johnson, CEO of Esports Entertainment Group. “This partnership places our brand in front of professional football fans globally and will place a Helix eSports center right in Canton. It also aligns extremely well with our recent strategic push into Ohio, which gained momentum in recent months through our partnership with the Cleveland Cavaliers as well as last month’s testimony in front of the Ohio State Senate Select Committee on Gaming by our CFO Dan Marks and VP of Strategy Jeff Cohen as advocates for the esports industry.”

According to market researcher Newzoo, the total competitive gaming audience for esports will continue to grow at a compound annual growth rate (CAGR) of 7.7 percent to 577.2 million in 2024, while the live streaming audience total is on track to reach 920.3 million within the next three years. What’s more, Juniper Research has estimated that the global esports and games streaming business will be worth more than $3.5 billion by 2025, up from $2.1 billion in 2021.

The EEG Esports Complex at the Destination will feature 80 high-end PCs, both next-generation console systems (Xbox Series X and PlayStation 5) as well as other leading state-of-the-art gaming and computing equipment. It will be open for casual gameplay, allowing the Destination’s guests to enjoy spontaneous, gaming sessions in addition to future planned tournaments and events. Additionally, there will be capacity for community and educational events meant to empower the next generation of gamers with equitable access to technology and STEM education.

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