Business
VGambling Secures $850,000 Financing Commitment To Launch eSports Wagering Platform and eSports Operations
VGambling Secures $850,000 Financing Commitment To Launch eSports Wagering Platform and eSports Operations.
About this update from Esports Entertainment Group, Inc.
[{"type":"text","content":"\n \n \n VGambling Secures $850,000 Financing Commitment To Launch eSports Wagering Platform and eSports Operations\n \n \nVGambling Secures $850,000 Financing Commitment To Launch eSports Wagering Platform and eSports Operations\n\nExclusive Bridge Round Financing Through First Capital Ventures\n\n \n ST. MARY'S, ANTIGUA--(Marketwired - Feb 6, 2017) - VGambling Inc. (\"VGambling\" or the \"Company\") (OTCQB: GMBL), a licensed online gambling company with a specific focus on eSports wagering, announced today that it has executed a term sheet for its $850,000 Bridge Round financing. The Financing, available exclusively through Denver, CO-based First Capital Ventures (\"First Capital\") is intended to complete the Company's disruptive peer-to-peer eSports wagering platform and launch its eSports websites. The Financing is expected to be completed within the next 30-45 days, with the first significant traunch expected on or before February 15.\n \"Fortune Magazine has reported that the eSports fan base will outstrip the NFL in 2017, while Forbes projects that fans of eSports fans will wager $23 billion by 2020,\" stated Gary Graham, President & CEO of First Capital. \"Yet traditional betting sites employ a sports book model that is fundamentally ill-suited to eSports. VGambling will be the first to offer a peer-to-peer wagering model dedicated to eSports, and it will be the only site to cover all 5,600 pro tournaments each year (existing sites cover approximately 50 or fewer). And perhaps most important to investors, VGambling is currently the ONLY public vehicle for participating in the global eSports phenomenon. We believe that VGambling is an optimal eSports entry point.\" \n Grant Johnson, President & CEO of VGambling, stated, \"We are excited to have secured this financing committment from First Capital Ventures. The eSports industry is accelerating at a phenomenal rate and this financing brings us materially closer to the completion of our eSports wagering platform and launch of our global scale marketing programs.\"\n About First Capital Ventures, LLC (www.firstcapitalventures.com) \n Founded in 2005, First Capital helps entrepreneurs realize their disruptive solution's true potential, while taking an active approach to shareholder value creation. Our team of senior-level leaders has over 200 years of combined busine...