The Esports market is red hot, and isn’t expected to cool off any time soon. In fact, at current pace the market could be worth nearly $5.2 billion by 2028, according to Emergen Research, from just $1.165 billion in 2020. Helping quite a bit, Esportznetwork.com just reported that, “Newzoo estimates that two billion people will be aware of esports globally in 2021, and we expect this group to be largely derived from core and traditional gaming audiences.” All a significant catalyst for companies like Enthusiast Gaming Holdings (TSX:EGLX)(NASDAQ:EGLX), Skillz Inc. (NYSE:SKLZ), Score Media and Gaming (NASDAQ:SCR)(TSX:SCR), Esports Technologies (NASDAQ:EBET), and Penn National Gaming (NASDAQ:PENN).
In addition, according to Varsity, “Boasting an estimated audience of over 700 million this year, and a revenue just shy of $1.1 billion, it’s hard to argue against the fact that esports is an emerging industry that warrants recognition.”
Look at Enthusiast Gaming Holdings Inc. (TSX:EGLX)(NASDAQ:EGLX), For Example
Enthusiast Gaming Holdings Inc., a media and content platform for video game and esports fans to connect and engage, is pleased to announce that Unique Visitor traffic in the U.S. to its digital media property has reached a 2021 high in July, based on recent data from Comscore, a leading third party media measurement and analytics company.
Enthusiast Gaming’s Unique Visitors in the U.S. grew to 45.3 million in July, an increase of 9% over June (Comscore Media Metrix®, Desktop 2+, Mobile 13+, June and July 2021, U.S.). That made July the highest month for U.S. Unique Visitor traffic thus far in 2021. The metric does not include additional under 18 mobile video traffic to the Company’s property, or viewership in the Company’s esports and entertainment division, including viewership of Luminosity Gaming.
“At a time when more entertainment options were available in the U.S., and restrictions on activities were lifted in many states, more Gen Z and Millennial gamers still chose to spend their time on Enthusiast Gaming platforms,” said Adrian Montgomery, CEO of Enthusiast Gaming. “This is further confirmation that we offer the largest integrated platform for brands and campaigns to reach the rapidly-growing gamer demographic at scale in the U.S.”
Enthusiast Gaming has also moved up 4 spots on Comscore’s Top 100 Properties ranking, as top gaming properties take an increasing share of overall Internet usage. (Comscore Media Metrix®, Top 100 Properties, November 2020 and July 2021, U.S.). Enthusiast Gaming remains the second-highest ranked property in the Gaming Information category next to Twitch, demonstrating the consistency and staying power of the platform(Comscore Media Metrix®, Gaming Information, Desktop 2+, Mobile 13+, July 2021, U.S.).
Other related developments from around the markets include:
Skillz Inc., the leading mobile games platform bringing fair competition to players worldwide, announced financial resultsfor the second quarter ended June 30, 2021. “Skillz is pleased to report strong revenue growth for the 22nd consecutive quarter and the closing of our acquisition of marketing platform Aarki, which will increase the efficiency of our user acquisition spend,” said Andrew Paradise, CEO and founder of Skillz. “Together with our partners, we continue to accelerate our vision of connecting the world through the power of competition.”
Score Media and Gaming Inc. announced that its wholly-owned subsidiary, Score Digital Sports Ventures (Canada) Inc., has entered into a multiyear agreement with Golf Canada to become its Official Gaming Partner. The exclusive partnership makes theScore Bet the first ever gaming partner for Golf Canada and its prestigious National Open Golf Championships - the CP Women’s Open and the RBC Canadian Open. The partnership, which begins in 2022, provides theScore Bet with access to activate across Golf Canada’s high-profile events and large digital footprint. As an exclusive gaming partner of the RBC Canadian Open and the CP Women’s Open, theScore Bet will be able to engage fans through a variety of on-site activations, including creating members club experiences for theScore Bet users, as well as digital activations through both tournaments and Golf Canada’s channels.
Esports Technologies Inc., a leading global provider of advanced esports wagering products and technology, announced today that its Esports Games app has hit 100,000 downloads. On this free-to-play app, players can win cash prizes by testing their esports prediction and trivia skills. Daily and monthly downloads have been increasing over the last four months, surging in July with 49,000 downloads. The app launched on the Google Play and Apple App stores in the United States, United Kingdom, and Canada in May 2021.
Penn National Gaming Inc. and Score Media and Gaming Inc.announced that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock. Under the terms of the agreement, theScore shareholders will receive US$17.00 in cash and 0.2398 shares of Penn National common stock for each theScore share, which implies a total purchase consideration of US$34.00 per theScore share based on Penn National’s 5-day volume weighted average trading price as of July 30, 2021. The transaction has been unanimously approved by the boards of directors of both companies and is currently expected to close in the first quarter of 2022. Upon completion of the transaction, current Penn National and theScore shareholders will hold approximately 93% and 7% respectively, of the Company’s outstanding shares.
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