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GameSquare Esports will present at the Leaders UK conference on September 28-29, 2022, in London. CEO Justin Kenna will discuss Unlocking the Younger Audience alongside UFC Featherweight Champion Max Holloway. The event will focus on trends like gamification and new revenue streams for sports. GameSquare aims to connect brands with fans through its unified platform, highlighting the rapid convergence of sports and esports. This conference gathers 2,000 executives from the global sports business ecosystem.
GameSquare Esports reported a 30% revenue growth in Q2 2022, reaching USD $6.7 million, compared to USD $893,141 in Q2 2021. The company saw a significant gross margin expansion to 45.3% from 24.5% in the previous year. Its net loss narrowed to USD ($2.5 million), down from USD ($9.9 million) in Q2 2021. GameSquare also increased its revenue guidance for 2022 to USD $27.5 to $30 million, up from USD $23.5 to $25 million. The company announced a private placement and secured a USD $5 million revolving credit facility.
GameSquare Esports (CSE:GSQ)(OTCQB:GMSQF) announced a partnership between Fourth Frame Studios and United Talent Agency (UTA) to enhance content production within the gaming community. CEO Justin Kenna highlighted this collaboration as a step towards Fourth Frame's ambition to be a top choice for content creation. UTA aims to leverage Fourth Frame's capabilities to connect brands with the gaming audience. The studio focuses on creating authentic content that resonates with youth culture and fosters inclusion in the gaming sector.
GameSquare Esports Inc. (CSE:GSQ)(OTCQB:GMSQF) is set to announce its Q2 2022 financial results on August 29, 2022, during a conference call at 8:00 am ET. The event will include an operational update covering acquisition optimization, commercial successes, and profitability initiatives. The call will feature CEO Justin Kenna and President Kevin Wright. GameSquare, located in Toronto, aims to expand its portfolio in the gaming and esports sectors.
GameSquare Esports Inc. has increased its 2022 revenue guidance to US$27.5 to $30.0 million from a previous forecast of US$23.5 to $25.0 million, marking a 20% increase. The revision is attributed to a strong sales pipeline and significant contracts expected in Q3 and Q4. CEO Justin Kenna expressed optimism about the company's growth trajectory, stating that brands are increasingly investing in esports, boosting sales opportunities. The company is well-positioned for profitability as it leverages its extensive portfolio within the esports sector.
GameSquare Esports has announced the MiO Level Up Challenge, a Fortnite tournament featuring top influencers and UFC fighters competing for cash prizes. The event begins on August 9 and will include 90 participants forming 10 teams, each representing MiO flavors. Livestreamed on Complexity’s Twitch channel, the tournament will incorporate hydration breaks to promote staying refreshed. This innovative challenge not only elevates gameplay but also highlights MiO's growing commitment to gaming, targeting a younger demographic.
GameSquare Esports Inc. (CSE:GSQ)(OTCQB:GMSQF) reported that CEO Justin Kenna purchased 405,000 common shares at $0.10. The company achieved $5.0 million in Q1 2022 revenue with a 32.6% gross margin. Revenue guidance for 2022 was raised to $23.5-$25.0 million. A new contract expected to generate over $2.5 million in Q3 and Q4 was announced. The company secured a $5.0 million credit facility from major shareholders. GameSquare continues to expand within the esports industry.
GameSquare Esports Inc. announces the closing of a $5 million revolving loan facility, enhancing capital access for growth. This facility, supported by major shareholders, aids in managing dilution during challenging market conditions. CEO Justin Kenna noted significant achievements, including expanding the audience to over 220 million and securing a major contract exceeding 10% of 2022 revenue guidance of $23.5 to $25 million. The facility does not yet involve drawn funds and entails issuing 4.49 million warrants to the lender for common shares, emphasizing investor confidence.
GameSquare Esports has partnered with YouTube Gaming to enhance the TimTheTatman's Tailgate, a two-day festival on July 16-17 in Frisco, TX, featuring a $100,000 Fortnite tournament. YouTube Gaming will livestream the finals and host the $15,000 Tim Pong tournament, maximizing creator engagement. This event showcases the blend of gaming, sports, and pop culture, featuring various activities including musical performances and meet-and-greets.
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