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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 (âQ4 2021â), of $56.9 million, representing a 34% increase from revenue for the three months ended December 31, 2020 (âQ4 2020â), 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
âOur momentum continues and we are pleased to confirm our record breaking results from Q4 2021,â commented Adrian Montgomery, CEO of Enthusiast Gaming. âWe 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.â
“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.
âI am thankful for my time on the Board of Enthusiast Gaming and am impressed with the trajectory of the Company,â said Nicole Musicco. âAdrian 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.â
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 managementâs discussion & analysis (âMD&Aâ) 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 Companyâs profile on SEDAR and EDGAR.
All amounts are in Canadian dollars.
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South Africa is Leading the Call for Responsible Gambling in African Countries

South Africa is once again positioning itself as a leader in ethical gambling practices, with the upcoming Responsible Gambling Summit 2025 set to take place on 13â14 November 2025 at Emperors Palace in Kempton Park, Gauteng. This landmark event will gather international experts, regulators, and industry professionals to address the most pressing challenges in responsible gambling across Africa.
Hosted by the South African Responsible Gambling Foundation (SARGF) in collaboration with major regulatory bodies such as the National Gambling Board, Eastern Cape Gambling Board, and Western Cape Gambling and Racing Board, the summit aims to drive forward an evidence-based, solutions-focused agenda that ensures gambling growth does not come at the cost of public well-being.
As South Africa continues to see rising participation in both land-based and gambling online, the summit is timely. It will tackle issues ranging from technological safeguards and public health integration, to policy harmonisation and vulnerable population protection.
Advocating for Safer Online Gambling
As South Africa strengthens its role in setting responsible gambling standards, SouthAfricanCasinos.co.za remains at the forefront of this effort in the online casino space. Our portal is more than a online casino listing site â it is a trusted source of expert advice, consumer guidance, and responsible gambling advocacy.
Since our inception, we have maintained a clear policy: we only recommend licensed, regulated casinos in south africa that adhere to strict player protection measures. These include transparent terms, fair bonus practices, and built-in tools such as deposit limits, time-outs, and self-exclusion options.
âThe online gambling landscape in South Africa is growing rapidly,â says a spokesperson for SouthAfricanCasinos.co.za. âBut with growth comes responsibility. Our mission is to ensure players have access to safe, ethical gambling environments. We support the goals of the Responsible Gambling Summit and encourage every operator to prioritise the welfare of their players.â
Practical Frameworks for Change
The Responsible Gambling Summit 2025 will focus on seven key thematic areas:
- Understanding gambling behaviour and disorders through science-led approaches.
- Overcoming barriers to effective policy implementation, including gaps in education and enforcement.
- Leveraging technology, such as AI-driven risk detection and real-time player monitoring.
- Adopting global regulatory best practices tailored to South African realities.
- Protecting at-risk individuals and communities, especially youth and those in lower-income brackets.
- Educating the public on the risks of gambling and how to stay safe.
- Building international networks to ensure future readiness and consistency across borders.
Each session is designed to lead to real-world outcomes, with progress monitored and reported biennially. This commitment to transparency aligns with broader calls for industry-wide accountability.
How Players Can Gamble Responsibly
Whether youâre new to online casinos or an experienced player, here are some essential responsible gambling tips:
- Treat gambling as entertainment, not a way to make money.
- Set a time limit before you start and stick to it.
- Only gamble with money you can afford to lose.
- Avoid playing when you are upset, stressed, or intoxicated.
- Use built-in responsible gaming tools provided by licensed operators.
- Keep track of your play history and regularly review your habits.
- Seek help if gambling is no longer fun, or if it begins to impact your personal life.
At SouthAfricanCasinos.co.za, we make these practices easier by highlighting casinos that offer responsible gambling features as part of our review process. Each recommended site undergoes a thorough evaluation based on licensing, fairness, transparency, and player protection standards.
Our Commitment to the South African Gambling Community
With a growing base of South African users, SouthAfricanCasinos.co.za plays an important educational role in the online gambling space. Our platform offers in-depth guides, news updates, free bonus casinos, free spins casinos and strategy articles designed to help players make informed decisions.
We actively follow developments in gambling regulation and work to ensure our listings are in line with the latest responsible gambling initiatives. As the conversation around ethical gambling evolves, so does our content â reflecting the high standards that South African players deserve.
South Africaâs leadership in responsible gambling sets a high standard not just for the continent, but for the global industry. By playing at casinos that are transparent, regulated, and committed to safety â such as those featured on SouthAfricanCasinos.co.za â players can enjoy the entertainment of gambling while staying in control.
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MGM Resorts Announces New Employment Agreement with CEO & President Bill Hornbuckle

MGM Resorts announced that it has reached a new employment agreement with CEO & President Bill Hornbuckle through December 31, 2028. As part of his new employment contract, the Company has also agreed to offer Hornbuckle an advisory agreement at the end of the term to assist with its integrated resort project in Osaka, Japan until its opening.
âBill is an exceptional, visionary leader who successfully guided the company through the COVID-19 pandemic while also positioning the business for long-term growth through new digital ventures, strategic M&A opportunities, and expansion into new international markets. Bill has earned the trust, respect and admiration of his employees, peers, shareholders and this Board. We’re thrilled that he has agreed to remain in his role for the foreseeable future,â said Paul Salem, Chairman of the MGM Resorts Board of Directors.
âI am honored to continue leading this company at an exciting time of both digital growth and resort expansion in places like New York, Japan, Brazil and the Middle East. Our best days remain in front of us, and Iâm thankful to our Board for their continued trust and support. The success weâve enjoyed over the last five years is a testament to our leadership team and our employees who have embraced our culture of guest-centricity and continuous improvement. Together, we will continue to pursue our vision to be the worldâs premiere gaming entertainment company,â said Hornbuckle.
As CEO, Hornbuckle oversees all aspects of MGM Resortsâ strategy, operations and hospitality and gaming development projects. He leads the companyâs global development efforts and its digital gaming strategy. He is a member of MGM Resortsâ Board of Directors and serves as Co-Chairman of the Board of Directors of MGM China Holdings, which operates resorts in Macau. He is also Chair of the U.S. Travel Association, a non-profit organization focused on growing travel and tourism to the United States, and he previously served as Chairman of the U.S. Travel and Tourism Advisory Board, which advises the U.S. Secretary of Commerce on policy, regulation, programs and issues that impact the travel and tourism industry in the US.
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Scientific Games Wins Three 2025 American Business Awards for Lottery Retail Technology Innovation and Instant Scratch Game Achievement

Scientific Games was recognized with three prestigious honors in the 23rd Annual American Business Awards. The global lottery company won two Gold ABA awards for its retail technology, SCiQ and PlayCentral Powered by SCiQ, in the Operations Management Solutions and Emerging Technology categories, respectively. Scientific Gamesâ recently retired VP, Instant Game Production, Joe Bennett, earned a Silver ABA Award for Achievement in ManagementâManufacturing, recognizing his career contributions in secure lottery instant game production.
Scientific Games President, Americas & Global Instant Products, John Schulz, said: âItâs an incredible honor to have SCiQ and PlayCentral Powered by SCiQ recognized with 2025 Gold American Business Awards. These awards reflect the strength of our innovation and the dedication of our teams to modernizing the retail lottery experience. Weâre also deeply proud of Joe Bennettâs Silver Award. Joeâs leadership across three decades has helped define secure instant game manufacturing for Scientific Games and the industry during his tenure.â
This year, more than 3700 nominations from organizations of all sizes and industries were submitted to the ABAs. Winners were scored by more than 300 professionals worldwide during a rigorous judging process evaluating innovation, integrity, effectiveness, creativity, and growth. The Gold Award represents the highest honor in each category, reserved for the top-scoring entry, with the Silver Award representing the second-highest honor. The ABAs are nicknamed âSteviesâ for the Greek word meaning âcrownedâ.
SCiQ is Scientific Gamesâ groundbreaking ecosystem designed to transform lottery instant game retailing. It brings advanced inventory management, security, and real-time sales tracking to retail locations, providing retailers, lotteries, and players with a smarter, more secure way to sell and purchase instant games. PlayCentral Powered by SCiQ extends the SCiQ ecosystem to lottery self-service retail environments. Integrating SCiQ technology into PlayCentral HD self-service vending machines allows for unprecedented inventory control, improved game security, and seamless retail operations, enhancing the player experience while optimizing lottery revenues.
Over his 34-year career at Scientific Games, Joe Bennett has driven significant advancements in digital transformation, manufacturing efficiency, and security innovation. He led the transition to a fully integrated digital production ecosystem and introduced patented encryption technologies that protect the integrity of instant lottery games. Under his leadership, Scientific Games now produces more than 53 billion secure, high-quality instant games annually. Bennett retired from the company in April 2025.
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