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Enthusiast Gaming Reports Year-End 2021 Results

Enthusiast Gaming Holdings Inc., an integrated gaming entertainment company, announced financial results for the year ended December 31, 2021.
2021 Financial Highlights
- Revenue for 2021 was $167.4 million, representing a 130% increase from revenue for 2020 of $72.8 million
- Gross profit for 2021 was $37.8 million, representing a 102% increase from gross profit for 2020 of $18.7 million
- Direct sales in 2021 of $22.2 million, representing a 344% increase from direct sales in 2020 of $5.0 million. Direct sales are included in revenue
- Paid subscribers as at December 31, 2021, of 220,000, representing an 80% increase from paid subscribers as at December 31, 2020, of 122,000
Q4 2021 Financial Highlights
- Revenue for the three months ended December 31, 2021 (“Q4 2021”), of $56.9 million, representing a 34% increase from revenue for the three months ended December 31, 2020 (“Q4 2020”), of $42.5 million
- Gross profit in Q4 2021 of $13.7 million, representing a 69% increase from gross profit in Q4 2020 of $8.1 million
- Gross margin in Q4 2021 of 24.1%, representing a 500 basis point increase from gross margin in Q4 2020 of 19.1%
- Direct sales in Q4 2021 of $8.8 million, representing a 167% increase from direct sales in Q4 2020 of $3.3 million. Direct sales are included in revenue
“Our momentum continues and we are pleased to confirm our record breaking results from Q4 2021,” commented Adrian Montgomery, CEO of Enthusiast Gaming. “We are seeing strong repeat business in direct sales, continued conversions of viewers into paying subscribers, and strength in our product offerings, particularly in Addicting Games and U.GG. We expect this momentum to carry into 2022 and beyond.”
“Our higher yield and higher margin revenue streams are expanding, with noticeable impacts to the income statement,” commented Alex Macdonald, CFO of Enthusiast Gaming. “Direct sales and subscription combined accounted for over 20% of revenue in Q4, helping push quarterly revenue to an all time high and gross margin to over 24%. We maintain a growth oriented position and outlook.”
Q4 Operational Highlights
- Expansion of in-game purchasing opportunities and subscription offerings for multiple Addicting Games titles including Little Big Snake, TypeRacer, EV.IO, and mope.IO
- Two new event series launched: Pocket Gamer Connects Digital NEXT, and Beyond Games
- Record U.S. unique visitor traffic of 51.8 million recorded in December 2021 as measured by Comscore
- Acquisition of League of Legends community U.GG, and expansion of the U.GG desktop app
- Luminosity Gaming ranked number one esports team on Twitch according to a study conducted with Nielsen
- Renewals or additional business with key partners including Proctor & Gamble, HBO Max, TikTok, Disney, ExitLag, G FUEL and Square Enix
- New season of Rising Stars announced, co-created with e.l.f. Cosmetics (NYSE: ELF)
Organizational Updates
The Company also announced that due to her recent appointment as Chief Investment Officer of the California Public Employees’ Retirement System (CalPERS), Nicole Musicco was required to resign from the Board of Directors of the Company, effective March 25, 2022.
“I am thankful for my time on the Board of Enthusiast Gaming and am impressed with the trajectory of the Company,” said Nicole Musicco. “Adrian and the management team are highly capable and there is a strong vision in place. I look forward to watching the Company continue to grow.”
The Company wishes to thank Nicole for her service, and congratulates her on the appointment at CalPERS.
The Company also announced that Menashe Kestenbaum has transitioned out of the role of President to focus exclusively on strategy and governance as a member of the Board of Directors. As a continuing member of the Board, his experience will continue to help the Company towards achieving its growth objectives.
Other recent appointments at the Company include:
- Scotty Tidwell as Senior Vice President of Talent
- Alex Gonzalez as Head of Luminosity Gaming
Certain information provided in this news release is extracted from financial statements and management’s discussion & analysis (“MD&A”) of the Company for the year ended December 31, 2021, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the financial statements and MD&A that an investor can properly analyze this information. The financial statements and MD&A have been published on the Company’s profile on SEDAR and EDGAR.
All amounts are in Canadian dollars.
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BMM INNOVATION GROUP TO SHOWCASE ITS WORLD-LEADING TESTING SERVICES FOR BRAZIL’S FAST-GROWING GAMING MARKET AT BIS SIGMA AMERICAS SUMMIT APRIL 7–10

Company to share expert insights and highlight its fast-track product certification and lottery support at São Paulo, Brazil show
BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, cybersecurity solutions, and virtual training for the global gaming industry, will exhibit at BiS SiGMA Americas April 7-10 at the Transamerica Expo Center in São Paulo, Brazil in Stand No. F133.
As Brazil’s gaming landscape undergoes a significant transformation under new federal regulations, BMM is heavily partnered with operators, suppliers, and regulators through this transition. With its three expert divisions – BMM Testlabs, BIG Cyber, and RG24seven Virtual Training – the BIG Group brings unmatched expertise in product testing, cybersecurity, and responsible gaming education, all vital for success in the dynamic Brazilian market.
At the show, BMM will highlight its fast-track product testing and certification process, developed specifically to address Brazil’s recertification requirements for B2B and B2C operators. This streamlined service ensures that gaming companies meet all regulatory standards while maintaining their operating licenses with minimal disruption.
BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “BMM is committed to guiding customers through the certification process with speed, precision, and expert support. Our goal is to reduce regulatory risks and accelerate time to market in Brazil’s evolving regulatory environment.”
At BiS SiGMA, BMM will highlight its support for Brazil’s expanding state lottery market, working closely with operators to support multi-jurisdictional entry and growth. BMM’s lottery and iLottery testing services help ensure full compliance while enabling faster, broader market access.
Visitors to BMM Innovation Group’s stand at BiS SiGMA Americas will gain insights into the Company’s full suite of services for cybersecurity and defense, as well as responsible gaming, including:
- Vulnerability assessments, penetration tests, PCI:DSS evaluations, and a suite of managed security services featuring CYREBRO’s Security Operations Center, KnowBe4’s security awareness training, and Maxxsure’s risk management platform.
- RG24seven Virtual Training, offering expert-led education on responsible gaming, anti-money laundering, and many other important topics, available in Portuguese, Spanish, and English for gaming professionals worldwide.
Turrini added, “BMM is more than just a test lab. We are a long-term strategic partner, helping shape a secure, responsible, and compliant gaming industry in Brazil and globally.”
BMM invites all BiS SiGMA attendees to stop by Stand No. F133 and discover how the Company drives innovation, reliability, and trust across Brazil’s regulated gaming industry. For more information on BMM’s Brazil support, visit the BMM Brazil Hub at brazil.bmm.com/.
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No fooling! The All-Inclusive Hotel Room Package is back for summer stays at the Plaza Hotel & Casino

Tomorrow might be April Fool’s Day but this is no joke, the Plaza Hotel & Casino is bringing back Las Vegas’ only all-inclusive hotel room package starting at $125 per person per night.
The Plaza introduced its all-inclusive hotel room package last summer. It was so well received by guests that the iconic downtown Las Vegas property is bringing it back and extending it for all of June, July and August.
“At a time when tourists are concerned about increasing costs in Las Vegas, including resort fees and paying to park, we wanted to give our guests a more affordable summer vacation option by again offering our all-inclusive hotel room package,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino.
The Plaza’ all-inclusive hotel room package waives all resort fees, but guests will still have free access to the fitness center, self-parking, and rooftop pool. It also includes bottomless drinks from the Omaha Bar and Sports Book Bar on the casino floor as well as breakfast and dinner from various dining outlets, and more.
The Plaza’s all-inclusive hotel room package is available for booking beginning today. Rooms must be booked online by Aug. 29 for a stay June 1 through Aug. 30.
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Jogo da Zebra: The Most Thrilling Version of the Classic Minesweeper Arrives from Vibra Gaming

Vibra Gaming, the leading game and platform developer in the LatAm market, unveils its latest and most exciting release: Jogo da Zebra, a high-adrenaline experience where every click can multiply your winnings. Designed especially for the Brazilian audience, this game reimagines the classic Minesweeper with visuals and gameplay that resonate with local culture.
The game unfolds on a 5×5 grid with 25 hidden tiles. Players can choose how much to bet and how many zebras will appear on the board, directly influencing the level of risk and potential rewards.
To win, players click on the tiles to reveal golden squares, increasing their bet multiplier. At any moment, they can cash out and secure their winnings before encountering a zebra.
The game also incorporates innovative mechanics to enhance the excitement. By selecting the number of hidden zebras on the board (from 1 to 20), players can adjust the difficulty and raise the prize multiplier as they progress. Additionally, if a zebra is revealed followed by a heart, the game grants an extra life, allowing the player to continue without ending the round. This unique feature adds a new layer of thrill and strategy, as only one extra life can be earned per game.
Jogo da Zebra also includes a Turbo Button, which speeds up tile reveals for a more dynamic gaming experience. A Cash Out button allows players to stop and collect their winnings before risking another click.
Ramiro Atucha, CEO of Vibra Gaming, commented: “Jogo da Zebra combines the nostalgia of a classic with captivating gameplay and big rewards. It’s the perfect game for thrill-seekers who enjoy risk, where every click can make a difference in winning big. We developed it with the Brazilian audience in mind, incorporating a local theme that connects with their culture and gaming preferences.”
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