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

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.