Once thought the preserve of teenage boys with too much time on their hands, the gaming market has exploded over the last few years, to the point where stock traders have to take it seriously.
Gaming falls under the heading of consumer discretionary stocks, climbed 0.9% in New York, 1.9% in Toronto.
Boca Raton, Fla-based Simplicity Esports and Gaming Company (OTCQB:WINR) an owner and manager of multiple esports teams, host of online tournaments and franchisor of esports gaming centers, announced today that it will begin offering play at home online tournaments in Brazil in June.
This year, Simplicity Esports began offering online tournaments in the U.S. to its database of over 400,000 customers from its esports gaming centers. Capacity for the online tournaments in the U.S. had to be increased multiple times to accommodate an unexpectedly high number of registrations.
Shares in WINR did just that Monday, opening June with a gain of 50 cents, or 35.7% to $1.90, on 351,000 shares.
North of the border, Toronto-headquartered Torque Esports (TSX-Venture: GAME) told investors it has entered into a shares for debt arrangement with Haywood Securities Inc. in relation to the settlement of certain unpaid financial advisory fees owing to Haywood.
Torque will issue to Haywood an aggregate of 200,320 common shares at a deemed price per share of $0.624, in full and final settlement of the remaining $125,000 in professional fees owing to Haywood in connection with the provision of a fairness opinion to the board of directors of Frankly Inc.
GAME stocks gained three cents, or 4.1% -- not as spectacular as its American counterpart – to 76 cents on 700,000 shares.
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