Enthusiast Gaming Announces Record Daily Users on U.GG, Growth of Desktop App

Rhea-AI Summary

Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX; TSX:EGLX) announced significant growth metrics for its acquired fan community platform, U.GG, which supports League of Legends players. Since its acquisition in November 2021, U.GG has achieved a peak of 600,000 daily active users and over 300,000 downloads of its desktop app. The platform saw 1.1 million visits during the opening weekend of the new League of Legends season (Jan 7-9, 2022). Enthusiast Gaming aims to leverage this growth to enhance its media and content platform for gaming communities.

Positive

• U.GG achieved 600,000 daily active users at peak.
• Desktop app downloaded over 300,000 times since launch.
• 1.1 million users visited U.GG during the first weekend of the League of Legends season.

Negative

• None.

U.GG desktop app downloaded more than 300,000 times since launch in November 2021

TORONTO, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ:EGLX; TSX:EGLX), a media and content platform for video game and esports fans to connect and engage, is pleased to provide an update on its most recent acquisition, League of Legends’ fan community U.GG, completed in November 2021.

Featured on the official League of Legends website as a resource for players, U.GG is one of the largest League of Legends fan communities, known by its fans for providing actionable data-driven insights that support, educate, and connect its audience of millions of monthly players.

Since the beginning of the new League of Legends season on January 7, 2022, U.GG achieved a peak high of 600,000 daily active users (DAU), with 1.1 million users visiting on the first weekend of the new season, from January 7 - January 9. In addition, U.GG’s recently launched desktop app has been downloaded over 300,000 times since its launch in November 2021.

“U.GG’s all-time high of daily active users, and downloads of its new desktop app demonstrate the ongoing and accelerating demand for the unique content and experiences U.GG delivers for the League of Legends community,” commented Adrian Montgomery, CEO of Enthusiast Gaming.

About Enthusiast Gaming

Enthusiast Gaming is building the largest media and content platform for video game and esports fans to connect and engage worldwide. Combining the elements of its four core pillars; Media, Talent, Esports and Experiences, Enthusiast Gaming provides a unique opportunity and integrated approach to reach and connect with its coveted GenZ and Millennial audience. Through its proprietary mix of digital media and entertainment assets, Enthusiast Gaming has built a vast network of like-minded communities to deliver the ultimate fan experience.

Contacts

Investor Relations:
Eric Bernofsky, Chief Corporate Officer, Enthusiast Gaming
investor@enthusiastgaming.com   

Media Relations:
Ashley Stanhope, Provident Communications
ashley@providentcomms.com
416-303-1498

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this release.

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 Gaming anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. 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 statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions concerning: interest and foreign exchange rates; capital efficiencies, cost saving and synergies; growth and growth rates; the success in the esports and media industry; and the Company’s growth plan. While Enthusiast Gaming considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; the timing and filing of the final base shelf prospectus and corresponding Registration Statement; the potential offering of any Securities by the Company; uncertainty with respect to the completion of any future offering; the ability to obtain applicable regulatory approvals for any contemplated offerings; the ability of the Company to negotiate and complete future funding transactions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast Gaming which are available on SEDAR at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.