Hall Of Fame Resort & Entertainment Announces Partnership With Esports Entertainment Group: What Investors Need To Know

Hall of Fame Resort and Entertainment HOFV announced an agreement Friday with Esports Entertainment Group GMBL.

What Happened: The esports entertainment and online gambling company Esports Entertainment Group will bring esports to Hall of Fame Resort and Entertainment’s Hall of Fame Village powered by Johnson Controls International PLC JCI.

Why It’s Important: Esports Entertainment Group will be the official esports provider for the Hall of Fame Village powered by Johnson Controls and will operate in a 7,000-square-foot eSports entertainment center, located at the Destination and joining Topgolf Swing Suites and Don Shula’s.

HOFV will benefit from now having the capacity to keep up with demand for esports entertainment while Esports Entertainment gains a valuable partner in its quest for taking control of the football market, both in terms of esports and gambling with sports betting legalization a hot topic in Ohio right now.

What’s Next: This eSports center based in Canton, Ohio plans to open in 2022 and serve as the hub for all esports enthusiasts.

It's a mutually beneficial partnership, company execs said. 

“This partnership places our brand in front of professional football fans," said Esports Entertainment Group CEO Grant Johnson.

“It also aligns extremely well with our recent strategic push into Ohio.”

Michael Crawford, the president and CEO of HOFV, said: “We are thrilled to partner with the highly respected EEG to offer fans a new state-of-the-art facility at the village.”

Price Action: Shares of Esports Entertainment Group were trading at $10.71 at press time, up 2.88% on the day. Hall of Fame Entertainment was trading 8.16% higher at $3.68.