The world of gaming is becoming more popular by the day, giving significant demand. The sheer size of the gaming community is a substantial revenue driver. Of the total population of 7.7 billion people in the world, according to Financial Post, it’s estimated that a third of the population are gamers. Plus, up to 43% of all males between the ages of 18 and 34 are gaming.
Revenue from those millions of people has already eclipsed box office revenue, generating $138 billion revenues in 2018, and $151.55 billion just in 2019. By 2025, that figure could be up to $257 billion. Microsoft is just as bullish. "Gaming is one of the largest and fastest-growing forms of entertainment in the world. We expect there to be more than $200 billion of revenue in this industry in 2021," Kyle Vikstrom, Microsoft's director of investor relations said, as quoted by CNN. Analysts at Deutsche Bank added, 2020 saw a “permanent structural increase in time and money spent on video games, “as well as a shift from physical to digital sales,” as noted by Business Insider. That excitement is creating big opportunity for related companies, such as Enthusiast Gaming Holdings Inc. (TSX:EGLX)(OTCQB:ENGMF), Activision Blizzard Inc. (NASDAQ:ATVI), Electronic Arts Inc. (NASDAQ:EA), Microsoft Corporation (NASDAQ:MSFT), and Amazon.com Inc. (NASDAQ:AMZN).
Enthusiast Gaming Holdings Inc. (TSX:EGLX)(OTCQB:ENGMF) BREAKING NEWS: Enthusiast Gaming Holdings Inc., North America’s and the UK’s largest platform of communities for video game and esports fans is pleased to announce today that it has taken a significant step to enhance its investor profile by launching a new capital markets strategy focused on the United States. As a result, the Company has applied for and is in the process of preparing for a listing of its common shares on the NASDAQ Capital Market.
Management of Enthusiast Gaming believes a NASDAQ listing will:
- provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base;
- increase the visibility of the Company, its growth strategy, accomplishments and results to date;
- enhance the Company’s brand in the US, thereby attracting additional partnership, sales, and M&A opportunities; and
- raise the Company’s overall profile and ultimately enhance shareholder value.
Adrian Montgomery, CEO of Enthusiast Gaming commented, "We continue to see strong interest from investors both in the U.S. and internationally. A US listing has been on our radar as one of the many strategies to execute as part of our business plan. On the back of the transformative acquisition of Omnia Media in Q3, the timing is right to proceed with a listing. The US is the largest capital market in the world and our most prominent territory in terms of both the Company’s audience and revenue. A NASDAQ listing is a natural next step for the Company.”
Enthusiast Gaming reaches a verified audience of 65 million people monthly in the US across its 100 websites and 1,000 YouTube channels that deliver an engaging video game and Esports fan experience. Millions more follow our Luminosity Gaming celebrity gamers and influencers and teams including co-owned franchises, the Seattle Surge and the Vancouver Titans of Activision Blizzard’s Call of Duty League and Overwatch League, respectively, making Enthusiast Gaming the largest consolidated platform for gamers in North America. The Company also has a significant operational presence in the US, including a business office and broadcast studio in Los Angeles, and a sales office in New York.
In advance of an anticipated listing on the NASDAQ, Enthusiast Gaming will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission (“SEC”). The listing of the Company's common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the Toronto Stock Exchange under the symbol "EGLX".
Other related developments from around the markets include:
Activision Blizzard Inc. (NASDAQ:ATVI) announced third-quarter 2020 results. “Our teams continue to execute our growth plans with excellence during incredibly challenging circumstances,” said Bobby Kotick, Chief Executive Officer of Activision Blizzard. “We are on a path to deliver sustained long-term growth across our fully-owned franchises. With confidence in our ability to continue to execute, we are raising our outlook for the year and remain enthusiastic for our growth prospects next year.”
Electronic Arts Inc. (NASDAQ:EA) announced preliminary financial results for its second fiscal quarter ended September 30, 2020.“Thanks to the incredible work of our teams and everything they continue to do for players while working from home, we’re delivering more fan-favorite games, growing our leading live services, and engaging more players across more platforms than ever before,” said CEO Andrew Wilson. “Our business has grown significantly this year, and we are projecting continued expansion into FY22 and beyond.”
Microsoft Corporation (NASDAQ:MSFT) and Cooler Screens announced a multi-year collaboration focused on bringing an immersive digital experience to brick-and-mortar retail environments. Through the collaboration, Cooler Screens will work with Microsoft to scale the delivery of its immersive digital media and merchandising platform hosted on Microsoft Azure to retailers and product brands. The companies will also explore additional integration opportunities to deliver enhanced experiences to customers. Cooler Screens’ retail technology replaces traditional cooler doors with IoT enabled, high-resolution smart screens which use sensors both outside and inside of the coolers to track inventory and product placing. The solution uses “identity-blind” data from consumer interactions, combined with external data like weather to deliver more personalized experiences.
Amazon.com Inc. (NASDAQ:AMZN) announced plans to open its first fulfillment center in Republic, Missouri. The new fulfillment center, which is anticipated to launch in 2021, will create over 500 new, full-time jobs with industry-leading pay and comprehensive benefits starting on day one. “We are proud to be bringing our newest Amazon facility to the city of Republic along with over five hundred great full-time jobs with highly competitive pay, benefits from day-one, and ongoing training,” said Alicia Boler Davis, Amazon’s vice president of global customer fulfillment. “We are excited for our future in Missouri and for what this means for our customers across the state as we continue to grow. We’d like to thank the community of Republic and local and state leaders for their strong support in making this project possible.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Enthusiast Gaming Holdings Inc. by a third party. We own ZERO shares of Enthusiast Gaming Holdings Inc. Please click here for full disclaimer.
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