Tiidal Gaming to sell Lazarus esports team
Esports and gaming company Tiidal Gaming has announced that it's looking to sell assets related to its competitive esports team, Lazarus.
The decision: It's going all-in on betting.
- The decision has been described as being in the company's best interest. It's public on the OTCQB equity market.
- Tiidal Gaming will instead entirely focus its efforts and resources on Sportsflare, a company that provides necessary services for others to launch a "top tier esports sportsbook."
- Once it has divested its ownership of its esports team assets, Tiidal will look to rebrand as Sportsflare to reflect its emphasis on that particular subsidiary. This will be voted on among shareholders in Q4 2022.
- “We have decided to put our undivided attention behind Sportsflare given the opportunity at hand and the amazing progress we have made with our esports betting products during the year,” said Tiidal Gaming CEO Tom Hearne.
The brand: Lazarus will seemingly not be part of Tiidal Gaming for much longer.
- The future of Lazarus was not spelled out in the announcement, though the wording strongly suggests that Lazarus will be sold and not folded entirely.
- The esports team brand describes itself as being "Canada's first esports team" having been founded in 2010. As per Lazarus' official website, it competes in Apex Legends, CrossFire, Gran Turismo, NHL 22, Pokémon Sword and Pokémon Shield, and fighting games.
- It recently won a major NHL tournament in July. Its player Justin "Regs" Reguly won the 2022 North American NHL Gaming World Championship to take home $26,000.