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MTG Enters Into Term Sheet With HUYA Inc. Regarding the Forming of a Joint Venture for China Esports Expansion and HUYA Investment Into ESL
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Modern Times Group MTG AB (MTG) announced the entering into a binding term sheet and the forming of a strategic joint venture as part of a transaction that allows HUYA Inc. to acquire a minority stake in MTG’s portfolio company ESL.
- Modern Times Group MTG AB (MTG) announces the signing of a term sheet for a new strategic partnership with leading Chinese game live streaming platform HUYA Inc. (Huya).
- Pursuant to the term sheet, Huya has agreed to form a joint venture with MTG’s portfolio company Turtle Entertainment GmbH (ESL), the largest esports company in the world, to facilitate expansion into China, and to acquire a minority interest in ESL. The investment size is USD 30 million made up of both primary and secondary shares.
- ESL and Huya plan to host and build local Chinese esport competitions connected to the global ESL tournament calendar to ensure maximum Chinese esports athlete participation on a global scale.
- As part of the transaction, ESL will issue new shares at a value of USD 22 million to increase capital to be used for further expansion, parts of which will be used by ESL to fund its pro rata part of the joint venture company.
- The terms of the transaction contemplated under the term sheet are binding. Both the joint venture and the acquisition by Huya of a minority interest in ESL are subject to customary confirmatory due diligence as well as the negotiation and signing of definitive transaction documents.
If completed, the transaction will further strengthen ESL‘s position as the leading and largest esports company globally, and the forming of a joint venture between ESL and Huya will create a natural alliance to facilitate expansion of ESL’s offering in the Chinese market. The Chinese esport market in 2019 is expected to generate revenues of USD 210 million, overtaking Western Europe as the second-largest esport region globally in terms of revenues*.
Huya will acquire USD 30 million worth of primary and secondary shares in ESL at a pre-money enterprise value of ESL of USD 425 million. As part of the transaction, ESL will issue new shares at a value of USD 22 million to increase capital to be used for further expansion, parts of which will be used by ESL to fund its pro rata part of the joint venture company.
“We are pleased to establish a close partnership with ESL, which demonstrates Huya’s further penetration into the global esports sector. Together with ESL, we are thrilled to bring more world class global esports content to Chinese gaming enthusiasts,” says Rongjie Dong, Chief Executive Officer of Huya.
“We are excited to announce this term sheet for an important strategic partnership which provides us with a strong partner in Huya to pave the way for a successful ESL expansion into the thriving Chinese esport and gaming market in due time,” says MTG President and CEO Jørgen Madsen Lindemann.
Huya is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with esports event organizers, as well as major game developers and publishers, and has developed esports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China’s young generation. Building on its success in game live streaming, HUYA has also extended its content to other entertainment content genres. HUYA’s open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.
Founded in Germany in 2000, MTG’s portfolio company Turtle Entertainment GmbH (ESL) has been developed into the world’s largest esports company. It operates high profile, branded international leagues and tournaments such as ESL One, Intel® Extreme Masters, ESL Pro League and other top tier stadium-size events, as well as ESL National Championships. Through the Joint Venture ESL and Huya will build local Chinese esports competitions connected to the global ESL tournament calendar to ensure maximum Chinese esports athlete participation on a global scale.
The terms of the transaction contemplated under the term sheet are binding. The transaction is subject to customary confirmatory due diligence, as well as further negotiation of, and agreement on, complete transaction documentation and signing is expected to take place during the fourth calendar quarter in 2019. MTG – the majority owner in ESL – will retain majority ownership of ESL also following a completed transaction. The remaining shares in ESL are owned by the founders of ESL.
Source: MTG
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This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: MTG Enters Into Term Sheet With HUYA Inc. Regarding the Forming of a Joint Venture for China Esports Expansion and HUYA Investment Into ESL
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GGPoker Launches Online Poker Millionaires – A New Docuseries Showcasing The High-Stakes Online Poker World Of GGPoker
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Online Poker Millionaires Episode 1 to premiere on GGPoker’s YouTube channel this Wednesday, November 12
GGPoker, the World’s Biggest Poker Room, is excited to launch Online Poker Millionaires, a new docuseries that takes viewers inside the world of high-stakes online poker. The series trailer will go live on GGPoker’s official YouTube channel on Monday, November 10, with Episode 1 featuring Alex Theologis made available on Wednesday, November 12.
Series Description
Online Poker Millionaires is produced in association with POKERfilms and reveals how the game’s most dedicated players turn a laptop, ambition, and discipline into real financial success. Online poker isn’t just a game – for some, it can be a path to financial success, where real money and real careers are built at GGPoker.
Each episode follows a different high-stakes player, uncovering the mindset, routines, and drive required to compete for life-changing prizes from behind the screen. The debut episode features Alex Theologis – a GGMillion$ and WSOP champion with over $9 million in GGPoker tournament earnings – offering an unfiltered look at the grind, preparation, and passion that define one of online poker’s most respected professionals.
Launch Week Schedule
- Monday, November 10 at 17:00 UTC | 12:00 EST: Official Trailer Launch on GGPoker’s YouTube Channel: YouTube.com/@GGPoker
- Tuesday, November 11: GGMillion$ live broadcast – Alex Theologis joins Jeff Gross as guest commentator at 18:15 UTC
- Wednesday, November 12 at 17:00 UTC | 12:00 EST: Online Poker Millionaires Episode 1 Premiere exclusively on GGPoker’s YouTube Channel
- Thursday, November 13: Reddit AMA (Ask Me Anything) with Alex Theologis on r/poker, discussing the making of the episode and his online poker journey
“Online poker let me build a life I never thought was possible when I started out,” said Alex Theologis, online poker professional. “It’s tough sometimes, but I wouldn’t trade this job for anything. I just want people who watch Online Poker Millionaires to get a real, honest look at what it means to be a professional player.”
Mike Bailey, Director of Online Poker Millionaires, added: “When GGPoker approached me to create Online Poker Millionaires, I felt empowered; I wanted to show viewers the real people living real lives behind the monitors. These high-stakes pros may not care for the limelight, but I felt it was important to be able to highlight the talent and dedication that goes on behind closed doors on a daily basis.”
To be ready to catch every moment of the upcoming Online Poker Millionaires, please subscribe to GGPoker’s official YouTube channel at GGPoker.TV.
The post GGPoker Launches Online Poker Millionaires – A New Docuseries Showcasing The High-Stakes Online Poker World Of GGPoker appeared first on European Gaming Industry News.
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The International Esports Federation (IESF) proudly announces the 19 nations set to compete in Mobile Legends: Bang Bang (MLBB) at the 16th World Esports Championships (WEC25), hosted in Kuala Lumpur, Malaysia.
This year’s MLBB competitions will see teams from Egypt, South Africa, Dominican Republic, Peru, Colombia, Argentina, Bolivia, Kazakhstan, Mongolia, Nepal, Cambodia, Indonesia, Myanmar, Iran, Türkiye, Belarus, Romania, Uzbekistan, and host nation Malaysia come together in the spirit of unity, passion, and competition.
From South America to Central Asia, and from Europe to Southeast Asia, the World Esports family will once again gather under one banner, celebrating the values that define the IESF: inclusivity, integrity, and the joy of play.
“Each year, the World Esports Championships bring together athletes and fans who share the same dream, to connect, to compete, and to grow,” said Boban Totovski, IESF General Secretary. “We’re proud to see Mobile Legends: Bang Bang continue to bridge cultures and inspire players around the world. Malaysia will be an incredible stage for this year’s competition.”
The WEC25 MLBB tournament will shine a spotlight on both rising stars and champions, with every nation bringing its own story, its own energy, and its own pride to the world stage.
As the host country, Malaysia is ready to welcome the world with open arms, offering a unique blend of culture, passionate fans, and an esports scene that continues to grow year after year. WEC25 will once again prove that esports is more than a game, it’s a moment where nations unite, athletes rise, and communities grow stronger together.
The post 19 Nations Set to Compete in MLBB at The World Esports Championships 2025 in Malaysia appeared first on European Gaming Industry News.
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Yaspa, the award-winning Pay by Bank fintech, today announced a new partnership with Sterling Lotteries, the UK’s market-leading External Lottery Manager (ELM). Sterling has selected Yaspa as its primary open banking payments provider for prize-led fundraising, enabling faster, safer, and more efficient supporter payments across its charity lottery programmes.
Sterling powers weekly lotteries and raffles for 800+ UK charities, from local organisations to national causes. By integrating Yaspa, Sterling can offer a streamlined Pay by Bank experience that confirms entries in real-time, reduces processing costs, and strengthens fraud protection, thereby freeing up more funds for impact.
Yaspa’s Head of Commercial, Amie Kadhim, said: “Sterling sets a high bar for reliability, security, and supporter experience. We’re proud to power their next chapter with instant bank payments that help charities move faster, enhance engagement, and achieve more with every donation.”
The partnership aligns with Sterling’s ongoing modernisation of the charity lottery model, bringing the convenience supporters expect, while improving cashflow and operational efficiency for fundraising teams. Entry confirmation is immediate and funds settle instantly, helping charities plan with confidence and reduce admin overheads.
Richard Dixon, Managing Director at Sterling, said: “We’re thrilled to be partnering with Yaspa to deliver an open banking solution that represents a true sector-first innovation. From the outset, it was clear that Yaspa shares Sterling’s vision for using technology to drive meaningful change in the charity lottery space. Open banking has transformed retail and financial services and now we’re bringing that same innovation to fundraising. It’s faster, more secure, and significantly more cost-effective for charities. By harnessing open banking, we offer charities a bold, efficient, and future-proof way to engage supporters, especially digital-first donors who expect a seamless experience.”
Key benefits for Sterling and its charity partners include:
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Instant payment settlement and immediate entry confirmation
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Lower processing costs compared with traditional methods i.e. debit and credit cards
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Reduced fraud and chargeback risk, utilising bank-grade security
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A smoother, mobile-first, user journey for supporters
The post Sterling Lotteries selects Yaspa as its primary open banking payments partner appeared first on European Gaming Industry News.
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