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by Ralph Trayfalgar Updated:
Loot.Bet, one of the rising stars in the esports betting space, has been acquired by Canadian iGaming firm Intema Solutions as part of a $14.75 million purchase agreement with Loot.Bet’s parent company, Livestream.
A press release from Intema reveals more details of the acquisition, particularly the up-front cash payment of $8 million, $4 million to be paid through a vendor take-back note, and the remaining amount to be paid in Intema stock.
This acquisition is only the latest in a series of strategic moves made by Intema in recent years as it makes a more concerted push into the rapidly-growing market of online slots betting and esports. Of particular note is Intema’s acquisition of Team Bloodhounds earlier in 2021, an esports organization also based in Canada.
Loot.Bet on its own has already garnered a significant following as a betting platform since its establishment in 2016. This Curaçao-based firm touts a user base of half a million people, and has inked key partnerships with both esports teams and event organizers alike.
The integration of Loot.Bet into Intema will allow it to establish deeper roots into the esports industry and, more importantly, cement Intema as a reputable brand for this new and extremely profitable realm of event betting.
In a statement from Laurent Benezra, CEO of Intema, the acquisition would “allow Intema to become a major player in the esports and iGaming sectors. LOOT.BET is unequivocally the best online betting platform in the world and, with the help of Intema’s emerging ecosystem and Isle of Man license, it has the potential to grow significantly more. We look forward to the final closing so we can truly begin our journey.”