Latest News
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.
Latest News
SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services
SCCG Management, a leading global advisory firm in the gaming and sports betting industry, is proud to announce its engagement by the Osage Nation Gaming Enterprise (ONGE) to assist in developing innovative, robust, player-centric solutions for sportsbook operations, on-line/mobile social casino, and Class II mobile on-premise gaming, designed to enhance the patron experience with diverse content, and drive operational efficiency.
The ONGE, operators of seven gaming and hospitality facilities in Oklahoma, is known for providing an intimate, guest-focused gaming, service, and entertainment experience. This collaboration marks a significant step in integrating advanced technology and operational expertise to deliver innovative solutions for the evolving interactive gaming landscape.
SCCG Managed Services (SCCGMS) specializes in turnkey solutions for tribal operators to develop, optimize, and manage sports betting and interactive gaming offerings. For the ONGE, , SCCGMS will assist in sourcing and implementing customized products and services tailored to their operations, enabling patrons to enjoy casino-style games on their mobile devices while within designated areas of the casino properties. This service ensures compliance with regulatory standards while delivering a seamless and convenient gaming experience.
âOur mission is to ensure operators like the Osage Nation Gaming Enterprise can fully harness the potential of their gaming operations,â said Stephen Crystal, Founder and CEO of SCCG Management. âThis partnership is about bringing cutting-edge technology and operational expertise to elevate interactive gaming experiences. We are honored to collaborate with the ONGE, a leader in tribal gaming, to pave the way for enhanced content, responsible gaming, and innovation.â
âOn behalf of Osage Casinos, we are very pleased to announce our engagement of SCCG to assist us with developing these new products and services for our guests,â offered Kimberly Pearson, CEO of Osage Gaming.
Compliance Updates
Licenses received: RockApp strengthens its position in the US iGaming market
RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the worldâs largest and fastest-growing markets.
These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.
This milestone is part of RockAppâs broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockAppâs dedication to innovation, strategic planning, and delivering exceptional value to its clients.
“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. Weâre excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”
Latest News
BetMGM Secures Exclusive Online Casino Content Rights to âFamily Feudâ and âThe Price is Rightâ with Fremantle Partnership
BetMGM, a leading iGaming and sports betting operator, announced a new and exclusive online casino rights partnership with Fremantle, a world leader in creating, producing and distributing entertainment content for over 100 years. The multi-year agreement secures the intellectual property rights for iconic game shows âThe Price is Rightâ and âFamily Feudâ for slots, table games, and non-traditional casino games. The partnership establishes the foundation for BetMGM to create customized online casino content around both game show brands.
âThis partnership unlocks various ways for BetMGM and Fremantle to collaborate and expand our brand. âFamily Feudâ and âThe Price is Rightâ are two of the most popular game shows in North America, and we look forward to bringing their fun and excitement to our online casino in various exciting ways,â said Adam Greenblatt, Chief Executive Officer of BetMGM.
During select weeks throughout the upcoming seasons, BetMGM will be featured as a sponsor with exclusive, never-before-seen partnership integrations for âFamily Feudâ and âThe Price is Rightâ. Throughout 2025 BetMGM and Fremantle will reveal additional details on these planned partnership activations.
Suzanne Lopez, COO of Fremantle North America, said: âOur exclusive deal with BetMGM and our premier game show IP represents a significant milestone for us both. This innovative collaboration paves the way for in-game branding across diverse online casino categories, while also providing opportunities for integrated TV sponsorships. Itâs all about enhancing how fans of âThe Price Is Rightâ and âFamily Feudâ connect with the shows in fresh, immersive ways.â
The companyâs award-winning online casino is home to over 3500 titles across North American markets and one of the largest state-by-state exclusive jackpot networks. BetMGMâs jackpot network currently consists of more than 20 game titles including popular games such as MGM Grand Millions, Bison Fury, and LootâEn Khamun and the Dead Sea Scrolls.
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