---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-005379"
form_type: "8-K"
ticker: "GMBL"
cik: "0001451448"
company_name: "ESPORTS ENTERTAINMENT GROUP, INC."
filed_at: "2023-02-17T23:59:59+00:00"
generated_at: "2026-06-19T07:56:03.949844+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Esports Entertainment sells Bethard for ~€9.5M; amends convertible note, debt reduced to $15.5M

## Summary
- Bethard business sale to Gameday PLC for ~€9.5M (€1.65M cash + release of ~€6.5M contingent liability).
- Amendment to note increases principal $2.95M; requires 50% of sale proceeds be deposited for debt holder.
- Debt reduced from $32.2M to $15.5M prior to amendment via conversions of note to common stock.
- Material non-cash goodwill impairment on iGaming reporting unit for Q2 ended Dec 31, 2022.
- Company will focus on Lucky Dino iGaming brands after Bethard sale and Argyll closure.

## SEC filing metadata
- accession: 0001493152-23-005379
- form_type: 8-K
- ticker: GMBL
- cik: 0001451448
- company_name: ESPORTS ENTERTAINMENT GROUP, INC.
- filed_at: 2023-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451448/000149315223005379/0001493152-23-005379-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451448/000149315223005379/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-005379
- JSON: https://secwatch.observer/filing/0001493152-23-005379.json
- Plain text: https://secwatch.observer/filing/0001493152-23-005379.txt

## Key facts
- Material Agreements
  ESPORTS ENTERTAINMENT GROUP, INC. entered into Share Purchase Agreement with Gameday Group PLC valued at Total purchase consideration of approximately €9.5 million (approximately $10.2 million) comprised o (effective 2023-02-14).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Gameday Group PLC
  - Value: Total purchase consideration of approximately €9.5 million (approximately $10.2 million) comprised o
  - Effective: 2023-02-14
  source text: On February 14, 2023, Esports Entertainment Group, Inc. (“Company”) and Gameday Group PLC (“Purchaser”) entered into a share purchase agreement (“Purchase Agreement”) for the sale of the Company’s Bethard business, an online operator of casino and sportsbook brands that is licensed in Malta and Sweden.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451448/000149315223005379/0001493152-23-005379-index.htm
- Material Agreements
  ESPORTS ENTERTAINMENT GROUP, INC. amended Amendment and Waiver Agreement with Debt Holder valued at Increases principal balance of Senior Convertible Note by $2.95 million; requires deposit of 50% of (effective 2023-02-16).
  - Action: amendment
  - Counterparty: Debt Holder
  - Value: Increases principal balance of Senior Convertible Note by $2.95 million; requires deposit of 50% of
  - Effective: 2023-02-16
  source text: The Company entered into an Amendment and Waiver Agreement (“Amendment”) on February 16, 2023 as a condition to the closing of the sale of the Bethard business.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451448/000149315223005379/0001493152-23-005379-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.