Esports Entertainment Group recently announced that it would be closing down Vie.gg, the organization’s esports-focused sportsbook, in New Jersey, Spain, and the United Kingdom. This information was first announced in an email sent to customers based in these jurisdictions.
“We have made the difficult decision to close Vie.gg,” the e-mail read. “The site will remain open until November 1st, 2022. Until then, you will be able to log in to close your account. Any accounts remaining open at that date will automatically be closed and any remaining balances of $1 or more will be returned by check sent to the address registered on the applicable account.”
EEG’s CEO, Grant Johnson, discussed the website’s closure in these jurisdictions last month. During an interview, he said that the company could not handle the seven-figure costs that were required to operate an esportsbook in New Jersey. Johnson also said that the business was dealing with similar situations in Spain and the United Kingdom.
Vie.gg was launched in New Jersey this past April. However, as NJ Online Gambling put it, the website’s rollout “was less than awesome, as the public did not flock to bet on their favorite League of Legends matches or Call of Duty battles.”
The last 12 months have been unkind to Esports Entertainment Group. On November 8th, 2021, one share of stock in the company was worth $6.44. As of this writing, GMBL stock is only worth $0.12 per share.