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Enthusiast Gaming Holdings Inc. (EGLX.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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3.0100+0.0400 (+1.35%)
At close: 4:00PM EST
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Previous Close2.9700
Open2.9500
Bid2.9500 x N/A
Ask3.0200 x N/A
Day's Range2.8600 - 3.0200
52 Week Range1.1500 - 3.2500
Volume173,320
Avg. Volume208,919
Market Cap310.358M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-1.0620
Earnings DateNov. 16, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est3.69
  • Enthusiast Gaming Amends and Expands its Credit Facilities to Support its Growth Strategy
    GlobeNewswire

    Enthusiast Gaming Amends and Expands its Credit Facilities to Support its Growth Strategy

    TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSX: EGLX)(OTCQB: ENGMF)(FSE: 2AV), the largest gaming platform in North America, reaching over 300 million monthly video game and esports fans worldwide, today announced that it has entered into an amended and restated letter agreement (the “Amended Credit Agreement”) with the Company’s lender, resulting in an increase in the total size of its credit facilities, under more flexible and growth-friendly terms. The Amended Credit Agreement increases the Company’s total borrowing capacity to up to $24 million, including a term loan in the amount of $10 million, and revolving demand loans of up to $14 million. The move to revolving facilities will provide the Company the ability to utilize cash-on-hand to reduce interest costs."This positive development for our balance sheet complements our capital plan as we continue to press on and focus on our strategic growth priorities”, said Adrian Montgomery, CEO of Enthusiast Gaming. “The modest increase in our borrowing base provides great options, while complementing our anticipated Nasdaq listing and entry into the U.S. capital markets.”Amounts drawn under the Amended Credit Agreement are to be used for (i) refinancing of obligations under the pre-existing letter agreement with the Lender dated August 2, 2019, as amended on September 30, 2019 and August 31, 2020 (ii) working capital purposes and (iii) financing of future acquisitions.Other material terms of the Amended Credit Facility, including the term and rate of interest, remain unchanged.About Enthusiast GamingEnthusiast Gaming (TSX: EGLX)(OTCQB: ENGMF)(FSE: 2AV) is building the world’s largest social network of communities for video game and Esports fans that reaches over 300 million gaming enthusiasts on a monthly basis. Already the largest gaming platform in North America and the United Kingdom, the Company’s business is comprised of four main pillars: Esports, Content, Talent and Entertainment. Enthusiast Gaming’s esports division, Luminosity Gaming, is a leading global esports franchise that consists of 7 professional esports teams under ownership and management, including the Vancouver Titans Overwatch team and the Seattle Surge Call of Duty team. Enthusiast's gaming content division includes 2 of the top 20 gaming media and entertainment video brands with BCC Gaming and Arcade Cloud, reaching more than 50MM unique viewers a month across 9 YouTube channels, 8 Snapchat shows and related Facebook, Instagram and TikTok accounts. Its 100 gaming-related websites including The Sims Resource, Destructoid, and The Escapist collectively generate 1.1 billion page views monthly. Enthusiast's talent division works with nearly 1,000 YouTube creators generating nearly 3 billion views a month working with leading gamer talent such as Pokimane, Flamingo, Anomaly, and The Sidemen. Enthusiast's entertainment business includes Canada’s largest gaming expo, EGLX (eglx.com), and the largest mobile gaming event in Europe, Pocket Gamer Connects (pgconnects.com). For more information on the Company visit enthusiastgaming.com. For more information on Luminosity Gaming visit luminosity.gg.Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts 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 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 in this news release include, but are not limited to statements relating to the Enthusiast Gaming's filing of a listing application with NASDAQ and its plans to file a Form 40-F with the SEC and any regulatory or other approvals required in connection therewith as well as the diversification of Enthusiast Gaming’s shareholder base, increased liquidity for shareholders and the acceleration of its business strategy.Forward-looking statements are based on assumptions, including 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 anticipated benefits of listing on the NASDAQ 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 related risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in Enthusiast Gaming public disclosure recorded filed under the Company’s provide on www.sedar.com, including those contained in the prospectus. 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. 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. 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 law.  CONTACT: For further information: Enthusiast Gaming Contact: Alex Macdonald, CFO, 416.623.9360 Investor Relations Contact: Eric Bernofsky, Chief Corporate Officer, 416.623.9360 investor@enthusiastgaming.com Media Relations – ID Public Relations EnthusiastGaming@id-pr.com

  • Baystreet

    Stocks in play: Enthusiast Gaming Holdings Inc.

    Recently concluded its Enthusiast Gaming Live Experience 2020 (“EGLX 2020”), a fusion of video games, ...

  • Enthusiast Gaming’s Online Gaming Festival, EGLX, Watched By Over 12 Million Fans
    GlobeNewswire

    Enthusiast Gaming’s Online Gaming Festival, EGLX, Watched By Over 12 Million Fans

    EGLX 2020 streamed a total of 53 hours of content over four days from Nov 10-13TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Enthusiast Gaming Holdings Inc. (“Enthusiast Gaming” or the “Company”) (TSX: EGLX)(OTCQB: ENGMF)(FSE: 2AV), the largest gaming platform in North America, connecting with over 300 million gamers monthly worldwide, recently concluded its Enthusiast Gaming Live Experience 2020 (“EGLX 2020”), a fusion of video games, esports, music, fashion, and lifestyle content and events. Supported by key sponsors, including SpiderTech, G FUEL and TikTok, the virtual event featured world premieres, unique performances and thrilling competitions - all live streamed to millions across the globe. Entering its fifth year - the four-day free event was live streamed on eglx.com and on the Company’s main Twitch channel: LG Loyal at twitch.tv/lgloyal. With a main broadcast centre in Toronto, multiple feeds were simultaneously streamed from all over the world in real-time, from as far away as Australia. The Toronto production and control centre hosted three cameras on-site and LED-lit walls and lighting were used to further enhance the viewer experience. Altogether, the digital event drew over 12 million viewers, totaling 53 hours of live streamed content during the event.In addition to performances by musicians ZHU and Goldlink, and appearances from NFL Stars Richard Sherman and Darius Slay, the event hosted a variety of announcements. Luminosity Gaming, Enthusiast Gaming’s esports organization, which counts 70 million fans, hosted the finale of its Rising Stars reality competition to find the next gaming superstar, which included more than a month of preliminary challenges and judging. With a panel featuring top Luminosity content creators Félix “xQc” Lengyel and Elliott “Muselk” Watkins, up-and-coming streamer, BabyCappah, was announced as the winner and was awarded a $100,000 Luminosity Gaming sponsorship. Fortnite pro Nicholas “Nick Eh 30” Amyoony was also signed to Luminosity Gaming’s roster where he will continue to create family-friendly content.“We are tremendously proud of how much EGLX has grown over the past five years, from a small cottage event to a premium, tier 1 gaming and esports fan experience. We look forward to continuing to create new and unique content experiences for our fans like Rising Stars and Gamers Got Talent, that consistently attract new sponsors and create additional content distribution opportunities on other platforms,” shared Adrian Montgomery, CEO of Enthusiast Gaming. “EGLX, which has traditionally been a live, in-person event, pivoted this year to a digital format. I could not be more pleased with the finished product that drew an audience of over 12 million. During a time when we are all physically separated - gaming has a unique advantage in its online communities that have existed for years, and we want to continue building on them through events like EGLX where they can all come together.”Additional event highlights included: * The Escapist Magazine’s Games Showcase * Gamers Got Talent with guest judges, Anomaly, Justin Guarini, runner-up on the first season of American Idol and hosted by Corey Mandell and Dreezy * SlayVS, NFL star Darius Slay joined fellow NFL players Richard Sherman and the Griffin Twins and American Rap Artist Goldlink to play a friendly game of Call of Duty Warzone * Call of Duty Tournament hosted by RockyNoHands * The Sims Resource LIVE featuring designs by Louise Goldin and hosted by Sims content creator and streamer, Deligracy * Pocket Gamer Launchpad, celebrating new, upcoming or updated iOS and Android gamesAbout Enthusiast Gaming Enthusiast Gaming (TSX: EGLX)(OTCQB: ENGMF)(FSE: 2AV) is building the world’s largest social network of communities for gamers and esports fans that reaches over 300 million gaming enthusiasts on a monthly basis. Already the largest gaming platform in North America and the United Kingdom, the Company’s business is comprised of four main pillars: Esports, Content, Talent and Entertainment. Enthusiast Gaming’s esports division, Luminosity Gaming, is a leading global esports franchise that consists of 7 professional esports teams under ownership and management, including the Vancouver Titans Overwatch team and the Seattle Surge Call of Duty team. Enthusiast’s gaming content division includes 2 of the top 20 gaming media and entertainment video brands with BCC Gaming and Arcade Cloud, reaching more than 50MM unique viewers a month across 9 YouTube pages, 8 Snapchat shows and related Facebook, Instagram and TikTok accounts. Its 100 gaming-related websites including The Sims Resource, Destructoid, and The Escapist collectively generate 1.1 billion page views monthly. Enthusiast’s talent division works with nearly 1,000 YouTube creators generating nearly 3 billion views a month working with leading gamer talent such as Pokimane, Flamingo, Anomaly, and The Sidemen. Enthusiast’s entertainment business includes Canada’s largest gaming expo, EGLX (eglx.com), and the largest mobile gaming event in Europe, Pocket Gamer Connects (pgconnects.com). For more information on the Company visit enthusiastgaming.com. For more information on Luminosity Gaming visit luminosity.gg.Forward Looking Statements 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.Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release. CONTACT: Media Contacts: Enthusiast Gaming Contact: Eric Bernofsky, Chief Corporate Officer, 416.623.9360 Media Relations – ID Public Relations, EnthusiastGaming@id-pr.com