TORONTO, April 15, 2019 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (EGLX.V) (EGHIF), (“Enthusiast” or the “Company”), is pleased to announce today, that it has closed the acquisition of 100% of the assets of The Sims Resource (“TSR”) from Generatorhallen AB and IBIBI HB, as previously announced in its press release dated January 7, 2019.
Enthusiast expects to realize the revenue of TSR beginning in Q2 2019 following the closing and integration on the Enthusiast platform.
Menashe Kestenbaum, CEO of Enthusiast, commented, “We are thrilled to close The Sims Resource acquisition and look forward to fully integrating it onto the Enthusiast platform. TSR is the largest female video gaming content site in the world and is ranked on Quantcast’s Top 25 websites with the highest concentration of female audience in the US, closely behind Oprah.com. He continued, “We have a monetization strategy for TSR and we anticipate enhancing our advertising revenue through direct sales, capitalizing on the opportunity to monetize with advertisers seeking a large female video game audience. Further, we will look to adopt TSR’s subscription model to add additional revenue streams across our entire portfolio.”
The acquisition of TSR is the largest acquisition to date for Enthusiast and follows the successful completion of several strategic and accretive acquisitions in 2018 and 2019.
About Enthusiast Gaming
Founded in 2014, Enthusiast is the fastest-growing online community of video gamers. Through the Company’s unique acquisition strategy, it has a platform of over 80 owned and affiliated websites and currently reaches over 75 million monthly visitors with its unique and curated content and over 50 million YouTube visitors. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with over 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.
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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.