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GameSquare Holdings Inc. (NASDAQ:GAME) operates at the intersection of gaming, esports, and digital media, connecting global brands with youth audiences through innovative marketing and immersive experiences. This news hub provides investors and industry observers with comprehensive access to the company's latest developments and strategic initiatives.
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GameSquare Esports Inc. and Engine Gaming and Media, Inc. have received approval from the Ontario Superior Court to proceed with their plan of arrangement. Engine Gaming will acquire all of GameSquare's outstanding shares at an exchange ratio of 0.08262 shares of Engine Gaming for each GameSquare share. Following the arrangement, GameSquare shareholders are expected to own about 60% of the combined company, which will trade under the ticker symbol GAME on NASDAQ and TSX Venture Exchange. This merger aims to strengthen their position in the gaming and esports sectors.
Engine Gaming and Media (NASDAQ:GAME) announced that its shareholders approved the acquisition of GameSquare Esports Inc.. The arrangement allows Engine Gaming to acquire all common shares of GameSquare at an exchange ratio of 0.08262 Engine shares for each GameSquare share. CEO Lou Schwartz expressed confidence in the transaction's potential to create a leading gaming and media company targeting youth audiences. The acquisition is expected to close by the end of March, pending regulatory approvals.
Engine Gaming and Media announced the launch of its upgraded Insight video streaming and monetization platform through its subsidiary, Frankly Media. This platform integrates solutions for esports, gaming, and entertainment, streamlining monetization and audience engagement. Key features include ad sales, audience insights, live streaming, and performance analytics, targeting content creators to optimize revenue. Over 100 existing customers have migrated to the Insight platform, reporting positive outcomes. The launch positions Frankly to leverage the growing addressable advertising market, enhancing its competitive edge.
Engine Gaming and Media, Inc. (NASDAQ:GAME) announced shares for debt agreements amounting to US$305,137. The Company will issue 200,000 Common Shares at a price of US$1.525 each to settle debts on unsecured convertible debentures. Additionally, 100,000 Common Shares will be issued to resolve an outstanding litigation matter. Both transactions are pending acceptance by the TSX Venture Exchange. The issued Common Shares will have a hold period of over four months. Engine Gaming specializes in live streaming data, social analytics, and programmatic advertising for major video gaming and media companies.
Engine Gaming and Media, Inc. (NASDAQ:GAME) announced the release of its Video Game Streaming Trends 2022 Yearly Report, detailing the evolution of the live streaming industry over the past year.
The report reveals that live streaming grew in non-gaming categories, accounting for approximately 20% of viewership with 4.2 billion hours watched. It highlights a shift towards individual content creation, with significant increases in female creator representation.
Despite reaching 29.5 billion hours watched, the total hours declined from 2021, primarily due to Facebook Gaming. The report is essential for brands targeting the 18-35 demographic.
Engine Gaming and Media, Inc. (NASDAQ:GAME) announced on January 19, 2023, that it has regained compliance with NASDAQ's minimum bid price requirement. This compliance follows a notification received on June 23, 2022, when the company was informed it did not meet the $1.00 closing bid price for 30 consecutive business days. Engine's stock achieved the required price on January 18, 2023, allowing it to remain listed on the NASDAQ Capital Market. Engine Gaming offers analytics, influencer marketing, and programmatic advertising services primarily to the gaming industry.
Engine Gaming and Media announced a signed merger agreement with GameSquare Esports, marking a significant milestone in their strategic process. The company reported a 65% reduction in net loss to $5.4 million for Q1 2023, down from $15.2 million in the previous quarter. Their Adjusted EBITDA improved by 32% to $(2.7 million). Additionally, SaaS revenues from Influencer and Data Technology increased by 35% year-over-year. Total revenue for Q1 2023 was $10.3 million, a slight decline from $11.5 million in Q4 2022, primarily due to Google algorithm changes affecting advertising revenue.
Engine Gaming and Media (NASDAQ:GAME) announced that it will release its fiscal first-quarter 2023 earnings on January 17, 2023, before the market opens, followed by a conference call at 8:45 a.m. ET. Interested participants can dial in at 1-877-407-0784 in the U.S. or 1-201-689-8560 for international calls. The call will also be available via webcast. A playback option will be accessible through January 24, 2023. Engine offers software and services for gaming, media, and influencer marketing, generating revenue from subscriptions, managed services, and advertising.
Engine Gaming and Media, Inc. (NASDAQ:GAME) will announce its fiscal first quarter 2023 financial results on January 17, 2023, after market close. The announcement will be followed by a conference call at 4:30 p.m. ET, allowing investors to discuss the results. The conference call will be accessible through dial-in numbers and a webcast. The company is focused on providing comprehensive analytics and advertisement solutions for the gaming industry, generating revenue through various sources, including subscription fees and programmatic advertising.
GameSquare Esports and Engine Gaming have announced a definitive arrangement agreement to merge, with GameSquare shareholders owning approximately 60% and Engine Gaming shareholders owning 40% of the combined entity, which will trade under the ticker GAME. The merger aims to create a leading digital media and technology platform tailored for gaming and youth culture audiences. Expected to close in Q1 2023, the combined company's projected revenue exceeds $70 million with enhanced access to U.S. investors and an accelerated path to profitability.
