Esports entertainment group temporarily suspends series a preferred stock dividend

Julians, malta--(newsfile corp. - december 8, 2023) - esports entertainment group, inc. (nasdaq: gmbl) (nasdaq: gmblp) (nasdaq: gmblw) (nasdaq: gmblz) ("esports entertainment", "eeg", or the "company"), a leading, global igaming company and business-to-business (b2b) esports content and solutions provider, today announced that its board of directors has suspended payment of the monthly cash dividend on the company's outstanding 10% series a cumulative redeemable convertible preferred stock (the "series a preferred stock"), commencing with the monthly dividend that would otherwise be payable in december 2023. alex igelman, ceo of esports entertainment, stated, "we are temporarily suspending the dividend on our 10% series a cumulative redeemable convertible preferred stock, as we believe we can effectively reinvest the capital in the business in order to drive the greatest return on capital for shareholders.
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