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Esports Tournament Platform XY Gaming Announces Multi-Million Funding Round
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XY Gaming, one of the world’s largest global esports tournament platforms where users compete for cash prizes, announced a $2.5 million USD seed funding round co-led by KB Partners and Varga Capital. XY Gaming organizes asynchronous esports tournaments using its proprietary technology, to create a convenient and hassle-free global arena for gamers to compete in some of the world’s top games, including League of Legends and Dota 2, with support for Fortnite, Rocket League, CSGO and additional titles coming soon. The company has worked with HyperX, GFuel, PaySafeCards, Sennheiser and Pinnacle, and has hosted more than 16,000 tournaments and 12.5 million games to date, catering to gamers of all skill levels.
“The majority of the esports market has few opportunities to compete for cash prizes,” said XY Gaming co-founder and CEO Aaron Fletcher. “Through our simple, free, and one-click to enter and play platform, we enable gamers of all skill levels to take their gaming to the next level in a fair and secure environment.”
The worldwide gaming market includes 2.5 billion active gamers. While most tournaments target the top one percent of gamers, XY Gaming creates a space for all gamers that want to play competitively. The company automatically tracks players’ in-game statistics and awards scores based on performance. Payouts are distributed via Paypal, credit cards, or credit for purchases in the marketplace. Unlike some tournaments which only divvy up earnings to players in the top one percent, XY Gaming divides cash awards between 30-40 percent of all participants in a tournament to increase participation rates and odds of winning.
XY Gaming also offers brands unparalleled engagement and advertising access to its more than 100,000 registered users. The company will use the new capital to enhance its advertising offering by developing a new branded tournaments model and expanding its advertising vertical, to better enable direct brand engagement.
“Numerous brands have indicated a great disparity between what current tournament platforms offer and what brands expect, and I am excited that we now have the capital to grow XY Gaming and create this new marketing vertical that is global, inclusive and scalable,” added Fletcher.
Funds will also be used to expand the team, create marketing campaigns, partnerships and influencer sponsorships to grow the site, and add new well-known game titles including Fortnite, Apex Legends, and Rocket League.
About XY Gaming:
XY Gaming is the world’s largest global esports tournament platform where users compete for cash prizes across games like League of Legends and Dota 2 with support for Fortnite, Rocket League, CSGO and additional titles coming soon. XY Gaming organizes asynchronous esports tournaments, automatically monitoring players’ in-game statistics and awarding scores based on performance to create a convenient and hassle-free competitive arena for gamers of all skill levels. The company has hosted over 16 thousand tournaments and 12.5 million games to date and has attracted more than 1 million people in a single tournament. The company was co-founded in San Francisco. For more information, please visit www.xygaming.com.
About KB Partners:
KB Partners is a suburban Chicago based investment firm focused on early-stage venture capital investments. KB’s principals take an active approach in helping to build dominant new enterprises by working in partnership with talented entrepreneurs and experienced managers. The firm is currently investing out of KB Partners Myriad Opportunity Fund, which invests in passionate innovators at the intersection of sports and technology.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Esports Tournament Platform XY Gaming Announces Multi-Million Funding Round
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Tis the season to give back to players with supersized weekly races, massive ticket drops, and the return of the Mini Online Super Series
ACR Poker is kicking off the holiday season in style, officially crowning December as Player Appreciation Month and celebrating its community with $500,000 in giveaways, offering something for every type of player.
Throughout December, ACR Poker’s biggest weekly races – The Beast, Sit & Crush, and Blitz Beast – are getting a serious glow-up as part of Player Appreciation Month. Each week from Saturday, November 29th to Friday, January 2nd, the prizes will be supersized. There will also be a sleigh-load of free tournament tickets dropped throughout December, giving players more chances to score big without spending a dime.
And starting Wednesday, December 17th, the Mini Online Super Series (MOSS) returns to close out Player Appreciation Month. There will be a full schedule of events with buy-ins from $0 to $109 and massive guarantees offered, with the full details released soon.
“I love that ACR is turning the whole month into one big holiday party and giving players a little extra cheer,” said ACR Pro Chris Moneymaker. “Giving back to the players who make this community is a great way to wrap up the year. Alongside supersized races, ticket giveaways and the Mini Online Super Series, players should also keep an eye out for something big from ACR on December 9th during WSOP Paradise. Stay tuned.”
Whether players are grinding tournaments, splashing in cash games, or simply logging in for some holiday fun, December is shaping up to be the most wonderful time of the year at ACR Poker.
For more information about Player Appreciation Month, visit ACRPoker.eu.
The post ACR POKER CROWNS DECEMBER ‘PLAYER APPRECIATION MONTH’ WITH $500,000 IN GIVEAWAYS appeared first on European Gaming Industry News.
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The post INTRALOT Announces Nine Month 2025 Financial Results appeared first on European Gaming Industry News.
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The Board of Kambi Group plc has decided to again exercise the buyback mandate which was received at the Extraordinary General Meeting on 18 June 2025 to initiate a share repurchase programme with a total value of SEK 100 million (€9m) which will run until 20 May 2026.
In line with its capital allocation strategy and empowered by the mandate received at Kambi’s Extraordinary General Meeting on 18 June 2025 (EGM) the board of directors (Board) of Kambi Group plc (Kambi) has today initiated a share repurchase programmes with a total value of SEK 100 million (€9m).
The programme will run from the date of this announcement until 20 May 2026 and shares acquired will be cancelled at a future date. The maximum number of shares that may be acquired is 1,672,887, and the aggregate purchase price for such acquisitions shall not exceed SEK 100 million (€9m). The aggregate number of shares that may be acquired under the mandate received at Kambi’s EGM is 2,990,362, which is equivalent to 10% of Kambi’s total issued shares at the time of the EGM resolution.
The buyback programme will be carried out in accordance with the Maltese Companies Act (chapter 386 of the laws of Malta), the Nasdaq First North Growth Market Rulebook for Issuers of Shares, the EU Market Abuse Regulation (EU No 596/2014) (MAR), and Commission Delegated Regulation (EU) 2016/1052 (the Safe Harbour Regulation). The share buyback programme is intended to benefit from the share buyback safe harbour provisions set out in MAR. To this end Kambi has entered into an agreement with Carnegie Investment Bank AB (Carnegie) to execute the buyback programmes and conduct the share repurchases on Kambi’s behalf.
The acquisition of shares shall take place on one or several occasions on Nasdaq First North Growth market in Stockholm (Nasdaq First North) and Carnegie will make its trading decisions in relation to Kambi’s shares independently of and without influence by Kambi. Payments for the shares are to be made in cash.
The programme will be effected in compliance with the trading conditions set out in article 3 of the Safe Harbour Regulation. In particular, Kambi shall not, on any single trading day, purchase more than 25% of the average daily share turnover on Nasdaq First North. The average daily share turnover is calculated on the basis of the average daily trading volume during the twenty trading days preceding the respective purchase date. In addition, share repurchases under each programme shall:
- not be made at a price higher than the price of the last independent trade or (should this be higher) higher than the current highest independent purchase bid on Nasdaq First North,
- be made at a price per share within the price interval recorded on Nasdaq First North at any given time, i.e. the interval between the highest buying price and the lowest selling price, and
- not exceed or fall below the maximum and minimum ranges set out in the EGM resolution.
At the time of this announcement, the total number of issued shares in Kambi is 29,903,619. Kambi currently holds 2,193,675 of its own shares from prior buyback programmes which will be cancelled on or shortly after 1 December and 400,000 shares held to satisfy Kambi’s future obligations arising from its employee share option programmes.
Information on completed buybacks will be publicly disclosed in accordance with Safe Harbour Regulation and will also be available on the company’s website, kambi.com.
The post Kambi initiates share repurchase programme with a value of SEK 100 million appeared first on European Gaming Industry News.
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