EBET Says Aspire Shut Down Activities In Germany On May 7

As previously disclosed in the Form 8-K filed May 3, 2023, on April 27, 2023, EBET, Inc. (the “Company”) was notified by its gaming platform operator services provider Aspire Global plc (“Aspire”) that the gaming regulatory authority in Germany had sent a letter received by Aspire on April 25, 2023 stating that Aspire would be required to shut down activity of its gaming operations in Germany effective as of 10 days from receipt of said letter until such time as Aspire was granted a license to operate in Germany. Aspire informed the Company that although it sought an extension of the requested shutdown deadline, it was not successful in receiving an extension of time and/or any form of other relief from this request. In order to meet the the subject German regulator requirement, Aspire shut down its activities in Germany on May 7, 2023 and as a result the gaming websites owned by the Company that operate in Germany were shut down on that date. The Company is evaluating the impact from the shutdown of activities, but believes it will materially impact the Company’s revenues.