MSG ENTERS WORLD OF ESPORTS; ACQUIRES COUNTER LOGIC GAMING

Madison Square Garden Company (MSG) has purchased a controlling interest in Counter Logic Gaming, an eSports powerhouse, with millions of fans across various social platforms and significant growth potential. While CLG gets access to MSG’s experience in completing marketing partnerships and media rights deals, MSG is now positioned as a power player in the world of competitive gaming. With the global eSports market estimated to be worth $1.5 billion, by 2020, that would seem to be a desirable place to sit. It should be noted that MSG has hosted and sold-out eSports events in the past, giving CLG the confidence it will be able to create and operate ticketed events at the World’s Most Famous Arena.

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Madison Square Garden Company Buys Counter Logic Gaming (CLG)

Howie Long-Short: HotShotGG? This makes me feel old. I don’t get eSports and I haven’t seen a real revenue model yet, but it clearly is receiving a ton of attention.

David Price/Earnings: A great move for both sides, although quite hard to call video gamers ‘professionals’.

Fan Marino: Do eSport athletes have a signing day? Do they line up hats?  A lot of questions to be answered here.

Author: John Wall Street

At the intersection of sports & finance.

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