Summary by Moomoo AI
Esports Entertainment Group, Inc. (EEG), a prominent iGaming and esports content provider, announced on March 28, 2024, that its common stock (GMBL) and 10% Series A Cumulative Redeemable Convertible Preferred Stock (GMBLP) have been approved for upgraded quotation on the OTCQB Venture Market, effective immediately. The OTCQB, operated by OTC Markets Group Inc., is recognized by the U.S. Securities and Exchange Commission as an established public market, providing investors with current public information necessary for trading securities. To qualify for the OTCQB, companies must maintain current reporting standards and complete an annual verification and management certification process. Alex Igelman, CEO of Esports Entertainment Group, expressed satisfaction with the upgrade, noting that it will enhance transparency for stakeholders and facilitate access to public capital markets. The company, which operates a leading esports venue management system and offers B2C wagering through its MGA-licensed suite of brands, aims to capitalize on the multi-billion-dollar esports and wagering market.