---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-006598"
form_type: "8-K"
ticker: "GMBL"
cik: "0001451448"
company_name: "ESPORTS ENTERTAINMENT GROUP, INC."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T14:54:34.224633+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Esports Entertainment completes sale of Bethard Business for $8.1M total consideration

## Summary
- Total consideration of $8,090,965 includes €1.65M cash, €150K holdback, and settlement of €5.87M contingent consideration liability.
- Purchaser Gameday Group PLC assumed net working capital of ~€1.24M ($1.31M).
- Pro forma net loss for six months ended Dec 31, 2022 reduced from $18.3M to $13.7M after removing Bethard's results.
- Post-closing, $19.26M of Senior Convertible Note principal converted to common stock, reducing debt.
- Reverse stock split of 1-for-100 effective Feb 22, 2022 reflected in pro forma adjustments.

## SEC filing metadata
- accession: 0001493152-23-006598
- form_type: 8-K
- ticker: GMBL
- cik: 0001451448
- company_name: ESPORTS ENTERTAINMENT GROUP, INC.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451448/000149315223006598/0001493152-23-006598-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451448/000149315223006598/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-006598
- JSON: https://secwatch.observer/filing/0001493152-23-006598.json
- Plain text: https://secwatch.observer/filing/0001493152-23-006598.txt

## Key facts
- M&A Transactions
  ESPORTS ENTERTAINMENT GROUP, INC. completed a disposition involving Gameday Group PLC for $8,090,965 (closed 2023-02-24).
  - Action: disposition
  - Counterparty: Gameday Group PLC
  - Consideration: $8,090,965
  - Closing: 2023-02-24
  source text: the sale of Prozone Limited with the Bethard Business herein referred to as the “Sale of the Bethard Business).” The purchase consideration was determined by the Company to be $8,090,965 comprised of cash received on the Closing date of €1,650,000 ($1,739,882 using exchange rates in effect on the Closing Date), holdback consideration, of €150,000 ($158,171 using
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451448/000149315223006598/0001493152-23-006598-index.htm

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