Gruppo Amodei Acquires Majority Stake in Italian Esports Event Organizer PG Esports
Milan, Italy-based esports event organizer PG Esports changed ownership. The co-owner of the gaming-focused consumer show Milan Games Week, event organizing company Fandango Club, sold a 51% stake in PG Esports to Gruppo Amodei. Gruppo Amodei is the Amodei family’s asset management firm, which is currently headed by Roberto Amodei and owns several newspapers, including the daily sports newspapers Corriere dello Sport-Stadio and Tuttosport. The financial terms of the acquisition were not disclosed.
According to an announcement, PG Esports’ founder Pier Luigi Parnofiello will continue running the company and PG Esports will maintain its headquarters on the Fandango Club campus where its production and casting studios are located. Parnofiello owns a 15% stake in PG Esports.
Furthermore, PG Esports, which currently organizes national leagues and tournaments in League of Legends and Rainbow Six in Italy, is going to continue its strategic partnership with Fandango Club, which is involved in operating its events and still holds 34% of PG Esports’ shares.
Corriere dello Sport-Stadio and Tuttosport publisher Robert Amodei noted that he is also looking to cover esports in his newspapers.
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