Lions Gate Looks To Capitalize On ESports Potential With Investment In Immortals Team

By Trey Williams Markets MarketWatch Pulse

Lions Gate Entertainment Corp. said on Tuesday it's investing in eSports franchise Immortals, reflecting a growing interest in the potential of eSports. Lions Gate joins a consortium of investors that includes Michael Milken and previous investor Steve Kaplan, co-owner of the NBA's Memphis Grizzlies and Premier League's Swansea City. The Immortals is a professional eSports team that competes worldwide in a market that is projected to grow to over $1 billion by the end of next year, according to a news release. "We're delighted to be an early mover in a market that has the potential to transform the face of sports entertainment," said Peter Levin, Lions Gate president of interactive ventures and games, in a statement. Last year, the world championships for the game League of Legends were played at a sold-out Staples Center in Los Angeles. Lions Gate stock is up 3% in last month since reclassifying shares.

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