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by Katherine Hardison
Esports Entertainment Group Inc. CEO Grant Johnson has left as the esports and online gaming company focuses on reducing costs, restructuring debt and leveraging its esports assets.
Mr Johnson, who steps down on Dec. 3, will also step down as chairman of the board, the company said on Wednesday. The company said the board is considering several candidates to take over as CEO and has identified a preferred candidate as interim CEO.
Jan Jones Blackhurst is appointed Chairman of the Board.
The company said it has made progress in recent months in reducing costs and considering strategic options for its iGaming properties that do not contribute to profits. It said this included the possible sale of assets due to regulatory burdens and competition. A new CEO will be tasked with determining the next steps.
Esports Entertainment Group has also received approval to continue listing on Nasdaq, but only if it meets Nasdaq requirements.
It is also in discussions with its debt holders to restructure its payment obligations and is considering non-binding letters of intent from third parties to consolidate its assets. Esports Entertainment said the combined company will focus on growing esports revenue.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
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