Welcome to our dedicated page for Enthusiast Gaming Holdings news (Ticker: EGLX), a resource for investors and traders seeking the latest updates and insights on Enthusiast Gaming Holdings stock.
Enthusiast Gaming Holdings Inc. (EGLX) is a prominent player in the gaming world, seamlessly bridging online and offline gaming experiences. Initially established through grassroots efforts by dedicated gaming enthusiasts, the company has evolved into a comprehensive network of gaming websites and events. Key platforms like Nintendo Enthusiast, Gaming Enthusiast, and PlayStation Enthusiast were among its first ventures, with the addition of TV and Film Enthusiast in 2015.
Enthusiast Gaming operates a diverse array of editorial content and domains, both managed internally and externally, creating engaging and readable content tailored for gamers, by gamers. The company's mission is to foster a global online community of gamers, enhancing their experience through accessible and relatable content.
In addition to its digital presence, Enthusiast Gaming organizes and manages live gaming events, competitions, markets, and gatherings within local communities. These activities not only entertain but also give back to the communities that have supported the company’s growth.
Recent achievements include a significant strategic focus on cross-platform offerings and brand solutions, which has driven an improved revenue mix and a 400 basis point expansion in gross margins year-over-year. Collaborations with major names like Netflix and Metavision have further enriched the gaming experiences across digital platforms.
Financially, Enthusiast Gaming has navigated the challenges of the market with resilience. An amended and restated credit facility now provides up to $7.0 million of additional liquidity, facilitating the execution of their business strategies. Leadership changes, such as the appointment of the former CFO of BuzzFeed, Inc., underscore the company’s commitment to profitable growth and digital media expertise.
Enthusiast Gaming’s contact points include Alex Macdonald, Chief Financial Officer, and investor relations through FNK IR representatives Rob Fink and Matt Chesler, CFA. They are accessible for queries and further insights into the company's operations and financial health.
For the latest updates, upcoming events, and detailed financial reports, visit the Enthusiast Gaming investor relations page.
Enthusiast Gaming has emerged as the leading gaming digital media property in both the U.K. and Canada, achieving 12.6 million unique visitors in the U.K. and 6.8 million in Canada in January 2022. This positions Enthusiast ahead of major competitors like Roblox, Twitch, and Activision Blizzard. The company aims to leverage this significant reach to attract global brands targeting Gen Z and Millennials. The metrics were sourced from Comscore, solidifying Enthusiast's stance as a top player in the gaming entertainment sector.
Enthusiast Gaming Holdings (NASDAQ:EGLX; TSX:EGLX) is set to announce its financial results for Q4 and the full year of 2021 on March 28, 2022, post-market closing. A related conference call and webcast will occur at 5:00 p.m. ET on the same day, offering an opportunity for stakeholders to discuss the results in detail. For those unable to attend, an archived recording will be available on the company's investor relations website. Enthusiast Gaming is an integrated gaming entertainment entity focusing on media, talent, esports, and experiences.
Enthusiast Gaming (EGLX) has partnered with Fractal, an NFT marketplace, to integrate NFTs into its HTML5-based game EV.IO, marking the company's first collaboration with an NFT platform. This partnership will allow players to mint NFTs for in-game cosmetic items and social areas, with existing players receiving whitelist tokens. The collaboration aims to enhance gameplay and user experience, supported by Hut 8's sponsorship for the upcoming NFT mint. This step into Web 3.0 aims to solidify Enthusiast Gaming's position within the evolving landscape of gaming and digital assets.
Enthusiast Gaming (NASDAQ:EGLX; TSX:EGLX) announced its participation in the South by Southwest Conference (SXSW) on March 14, 2022. CEO Adrian Montgomery will join the panel titled “Level Up! Bridging Gameplay and Advertising,” focusing on innovative advertising strategies for the gaming community, which consists of 2.7 billion gamers globally. The panel will also feature prominent industry leaders from Twitch, Frameplay, and The Ad Council. It will take place from 11:30 AM to 12:30 PM CT at the Fairmont in Austin, TX.
Enthusiast Gaming, trading as EGLX, announced participation in the Scotiabank TMT Conference on March 8-9, 2022. CEO Adrian Montgomery will engage in a fireside chat on March 8, from 1:05 PM to 1:35 PM ET. The event will be webcast live and archived on Enthusiast Gaming's investor website. The company focuses on integrating gaming entertainment through its Media, Talent, Esports, and Experiences sectors, targeting GenZ and Millennial audiences to enhance engagement.
Hut 8 Mining Corp. has entered a multi-year partnership with Enthusiast Gaming, marking its first collaboration with a gaming organization. The partnership aims to leverage Hut 8's data center infrastructure to support Enthusiast Gaming's initiatives in mobile and blockchain gaming, NFTs, and cryptocurrency. Notably, Hut 8 will sponsor Enthusiast's EV.IO game and Luminosity Gaming, the leading esports organization on Twitch. This collaboration targets the growing market of crypto-savvy gamers and seeks to integrate content across Enthusiast's expansive gaming community.
Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX; TSX: EGLX) announced a multi-year partnership with Hut 8 Mining Corp. (NASDAQ: HUT; TSX: HUT), marking a significant collaboration in the gaming and digital asset mining sectors.
This partnership aims to create new experiences in mobile and blockchain gaming, leveraging Hut 8's innovative data centre infrastructure. Enthusiast Gaming plans to integrate Hut 8 content into its gaming ecosystem and host operations in Hut 8's environmentally friendly data centres. Both companies are poised to reach a combined audience of 300 million Gen Z and Millennial consumers.
Enthusiast Gaming (NASDAQ: EGLX) reports a 34% increase in Twitch hours watched for its Luminosity Gaming esports team, totaling over 32 million hours in January 2022. This growth positions Luminosity 50% ahead of its closest competitor in the esports space. The Nielsen study also reveals that Luminosity's total social following has increased by 13%, now exceeding 145 million globally. CEO Adrian Montgomery emphasized this trend enhances Luminosity's attractiveness to brands targeting Gen Z and Millennials. The company is leveraging these insights for its direct sales.
Enthusiast Gaming Holdings (NASDAQ:EGLX; TSX:EGLX) reported preliminary Q4 2021 revenue of $56.9 million, a 34% year-over-year increase, with expected annual revenue totaling $167.4 million, marking a 130% increase from 2020. The gross profit for Q4 2021 is projected at $13.7 million, a 69% rise, yielding a gross margin of 24.1%. Paid subscribers reached 220,000, up 80% year-over-year. The company’s cash balance stood at $22.7 million. Financial results will be finalized and audited by March 24, 2022.
Enthusiast Gaming Holdings (NASDAQ:EGLX) announced participation in the Emerging Growth Conference on February 2, 2022. CEO Adrian Montgomery will present from 10:30 to 11:00 am ET, allowing real-time interaction with shareholders and the investment community. The conference has previously attracted nearly 20,000 attendees, predominantly individual investors (85%). Enthusiast Gaming focuses on connecting video game and esports enthusiasts through a robust media and content platform aimed at Gen Z and Millennials.
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