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Enthusiast Gaming Is Planning To Be Listed On NASDAQ

PUBLIC OFFERING | ANNOUNCEMENT DATE: 09 NOV 2020
WRITTEN BY | 13 Nov 2020
Enthusiast Gaming Is Planning To Be Listed On NASDAQ
PUBLIC OFFERING

💵 Public Offering

  • Toronto-based entertainment platform and esports event company Enthusiast Gaming Holdings (TSX: EGLX, OTCQB: ENGMF, FSE: 2AV) is preparing for listing on the NASDAQ stock exchange

  • The company went public in 2018 on TSX Venture Exchange, and moved its listing to the Toronto Stock Exchange, in January 2020

💠 Strategic Rationale

  • Listing its share on NASDAQ will allow Enthusiast Gaming to attract new investors, especially institutional and retail ones

  • It will also let the company establish its brand in the U.S., entailing new possible partnerships, sales, and M&A opportunities

  • Enthusiast Gaming believes it will raise its profile and increase shareholder value

🎲 Products

  • Enthusiast Gaming’s assets include approximately 100 websites such as Destructoid, Nintendo Enthusiast, and The Escapist, as well as more than 1,000 YouTube channels

  • The company collaborates with more than 500 esports influencers and has an overall number of 90 million MAU, with 3.2 billion web page views per month

  • The company owns a gaming convention Enthusiast Gaming Live Expo, with more than 30,000 attendees and 200 exhibitors

    • The expo is a mixture of esports tournaments, music, fashion, and lifestyle events, sponsored by Spidertech, G Fuel, and TikTok

  • The company also owns Pocket Gamer Connects, Europe’s largest mobile gaming event, held once a year, with more than 30 indie developers participating

  • Enthusiast Gaming has 7 professional esports teams, including Luminosity Gaming, Vancouver Titans, and Seattle Surge

💵 Enthusiast Gaming’s Previous Deals

  • In September 2020, Enthusiast Gaming acquired Omnia Media and Blue Ant Media for a total of about $34.1m

  • In September 2019, Enthusiast Gaming merged with Aquilini GameCo, the owner of Luminosity Gaming

SOURCES: ENTHUSIASTGAMING, VENTUREBEAT, ESPORTSINSIDER

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Enthusiast Gaming
  • Established in 2014

  • Headquarters — Toronto, Canada

  • Founded by Menashe Kestenbaum

  • Largest gaming network in the U.S., owns Canada’s largest gaming expo, EGLX, and the largest mobile gaming event in Europe, Pocket Gamer Connects

  • 2020 Second Quarter Financial Statements and Investor Presentation — October 2020