EBET’s online casino assets to be sold in foreclosure sale

Finance News

Hilco Streambank presents the opportunity to acquire certain assets associated with EBET, a global provider of advanced wagering products which operates seven iGaming / online casino and sports betting brands with large European player-bases.

The foreclosure sale may entitle a buyer to receive rights in trademarks, domain names, patents, copyrights, customer and transaction data for >925k users, front-end website code, marketing services accounts and contracts, interest as plaintiff in litigation with potential for an award of substantial damages and shares of certain subsidiaries.

Bids are due to Hilco Streambank on July 30, 2024 at 9 a.m. PDT / 12 p.m. EDT / 5 p.m. GMT and a public auction will be conducted via Zoom on August 1, 2024 at 7 a.m. PDT / 10 p.m. EDT / 3 p.m. GMT. The asset sale will be conducted pursuant to Article 9 of the Uniform Commercial Code, on behalf of the secured party (the “Secured Party”).

EBET’s brands include Karamba, Hopa, Griffon Casino, BetTarget, Generation VIP, Dansk 777, and Scratch2Cash. Offering a wide range of gaming and betting options, the brands generated approximately $21.0 million in LTM revenue as of March 31, 2024.  During CY 2023, an average of ~18.4k players per month made a bet and the average first-time deposit was ~€127.

Hilco Streambank Chief Commercial Officer Richelle Kalnit remarked, “A buyer of the assets has the opportunity to tap into a rapidly growing online gaming market and to expand upon the brands’ success by emphasizing and/or re-entering certain markets, re-engaging the large player database, and optimizing software and marketing operations.”