Esports Entertainment unveils slate of competitors for global CS:GO tournament

Esports Entertainment Group Inc (NASDAQ:GMBL) and its partner Allied Esports have announced 14 of the 16 teams from around the world that will compete for €50,000 ($59,000) in prize money in the inaugural Counter Strike: Global Offensive (CS:GO) online tournament beginning Monday. The lineup features the top-ranked CS:GO teams from five countries, including Belarus, Bulgaria, Norway, Romania and Ukraine, and seven teams ranked in the top 50 globally. The remaining two teams will be announced next week.  Allied Esports’ VIE.gg CS:GO Legend Series format will include a group stage featuring four groups of four teams competing in best-of-three play, with the top two teams from each group advancing to the playoffs. The four first-round playoff matchups will be best-of-three, while the semifinals and finals will be best-of-five. READ: Esports Entertainment inks deal to buy UK-based Esports Gaming League The partners previously announced a licensing and sponsorship agreement for the tournament that will bring Legend Series wagering opportunities to consumers on the new VIE.gg platform for the first time. “We’re thrilled to sponsor the inaugural VIE.gg CS:GO Legend Series, which features an incredible roster of teams and has the potential to reach their more than four million combined followers globally,’’ VP of Marketing and Head of Esports at Esports Entertainment Magnus Leppaniemi said in a statement. “This is a great opportunity for us to support the CS:GO ecosystem and provide an avenue for underserved teams to compete for larger prize pools.” The tournament will be produced by Allied Esports, a subsidiary itself of Allied Esports Entertainment Inc, from its HyperX Esports studio in Hamburg, Germany and streamed live on Twitch.tv/AlliedEsports from 11 am to 6 pm ET each day starting Monday. “We have worked together with Esports Entertainment Group to integrate customized features and unique content presentations into a broadcast of our popular Legend Series that highlights their product and delivers an exciting new experience to viewers around the world,” Allied Esports Entertainment CEO Frank Ng said in a statement. “Our ability to provide partners with established tournament brands and high-quality productions that help them achieve their business objectives will continue to strengthen our position as a leader in the burgeoning esports betting industry and beyond.” Each broadcast during the tournament will feature a wagering component, the company said, including dynamic live odds that will be on display for the entirety of each match, while additional prop bets will be discussed and integrated into the show.  Teams will earn prize pool money throughout the tournament, including €500 ($594) for each win and €1500 ($1,782) to the top finisher in each group. The VIE.gg CS:GO Legend Series champion will take home €15,000 ($17,820), with €7,000 ($8,316) to the runner-up, €3,000 ($3,564) each to the third and fourth place finishers and €1,500 ($1,782) to each of the remaining playoff participants. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel