Alpha Esports Tech Announces the Closing of Heavy Chips Acquisition

Alpha Esports Tech Inc. announces the closing of 100% of Heavy Chips and Sports Betting, a fully operational online gaming site with over 800 popular casino games and over 5,000 sports betting opportunities every day on sports such as football, tennis, basketball, and more. Heavy Chips provides access to live dealer games, casino slots, arcade casino games, and sports betting.

Currently, Heavy Chips has over 250,000 registered users on its website and has seen consistent user growth every month of 2021. Heavy Chips has also recorded an average of approximately €16,800 Euros in monthly unaudited revenue in 2021, including growth nearly every month. In October, Heavy Chips recorded unaudited revenue of approximately €22,000 Euros.

The Company believes the online adult gaming/gambling sector is poised for continuous growth and that Heavy Chips key statistics show the growing potential in the sector and also illustrate how the Company is positioning itself for sustainable success.

The global online gambling market reached $66.7 Billion in 2020; is expected to more than double and reach $127.3 billion by 20271 Canada, the United States and Europe have the highest market share;2
Online gambling service providers/operators are allowed to enter into agreements with individual players or customers to provide betting services for real money, in turn attracting more gamers3

Recent studies show that 96% of online gamblers play at home; A large number of customers are using desktops for betting as downloading and installing casino software proves to be easier on desktops4.

The growth prediction comes from the rising popularity of online sportsbooks and the freemium business model of online casinos that lure players with no deposit bonuses. Also, it is believed among experts that smartphone adoption and cheap internet data plans are driving the market towards exponential growth. It is also believed more gambling experts are starting to realize that the transition to the digital environment is inevitable, that online casinos will take over the land-based market and bring advanced virtual environments similar to the in person experience5.

“Heavy Chips is the perfect acquisition for Alpha’s entry into the adult gaming sector,” said interim CEO, Matthew Schmidt. “Since we began our discussions with the Heavy Chips team, their user base has grown at a significant pace and they also have recorded increases in revenues nearly every month. We look forward to unlocking the full potential of this platform and are excited to deliver shareholder value through GamerzArena and now Heavy Chips.”