Loading, Please Wait...
TORONTO, May 22, 2019 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (TSXV: EGLX) (OTCQB: EGHIF), (“Enthusiast” or the “Company”), the largest publicly traded video game media and esports company in North America, is excited to announce that its network of video game enthusiasts has grown to 150 million total monthly visitors(1). Enthusiast’s platform is the fastest growing gaming network in North America(2) and includes owned and operated gaming related websites and a network of YouTube channels.
Monthly visitors across the network has doubled since Enthusiast completed its going public transaction in October 2018 and has grown from two million monthly visitors since 2015. The increase validates the rapid growth of the gaming industry and further positions Enthusiast as a leader in the space. The significant growth and size of Enthusiast’s network has provided the Company with a number of different revenue streams, including direct sales, revenue sharing and subscription models that diversifies the business and supports continued future growth.
Through its aggressive acquisition and organic growth strategy, Enthusiast has been able to scale and grow its business quickly, in an attempt to gain significant market share within the gaming industry. Enthusiast has seen consistent monthly organic growth across its network, with more visitors engaging with its content rich gaming properties. As an early industry leader, Enthusiast has built a solid framework to take advantage of future growth opportunities and capitalize on the overall sector growth in the coming years.
Menashe Kestenbaum, CEO of Enthusiast commented, “Our consistent growth further validates our business model, as we continue to outperform visitor growth month over month. Our team continues providing innovative, rich content which attracts dedicated gamers. This content allows us to deepen our reach both vertically and horizontally across a number of sub-sectors within the gaming industry.” Kestenbaum continued, “In a relatively short period of time, we have managed to amass a network of over 150 million monthly visitors and now major brands are taking notice. In addition to our core revenue generating verticals of content, advertising, and events, the size of our network has provided a number of different revenue opportunities, that we believe will add sustainable, long-term value to our network moving forward.”
About Enthusiast Gaming
Founded in 2014, Enthusiast Gaming is the largest vertically integrated video game company and has the fastest-growing online community of video gamers. Through the Company’s organic and acquisition strategy, it has amassed a platform of over 150 million monthly visitors across its network of websites and YouTube channels. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.
Head of Investor Relations & Marketing
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Enthusiast anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, comments with respect to strategies, expectations, planned operations and future actions of the Company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Enthusiast to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Enthusiast, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.